Summit Power Limited announcements
394 Dhaka Stock Exchange announcements for Summit Power Limited (SUMITPOWER) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2014 (19).
- Credit Rating
Credit Rating Information and Services Limited (CRISL) has rated the Company as "AA+" in the long term and "ST-1" in the short term in consideration of audited financials of the Company up to December 31, 2013, unaudited financials up to September 30, 2014 and other relevant quantitative as well as qualitative information up to the date of rating declaration.
- will resume
Normal trading of the shares of the Company will resume on 11.11.2014 after record date for EGM.
- trade suspension
Trading of the shares of the Company will be allowed only in the Spot Market and Block/Odd lot transactions will also be settled as per Spot settlement cycle from 06.11.2014 to 09.11.2014. Trading of the shares of the Company will remain suspended on record date i.e., 10.11.2014 for EGM.
- EGM
The Company has informed that the Board of Directors of the Company has decided to hold an EGM to transact the following businesses:- (1) To consider increase of Authorized Capital from Tk. 700.00 crore to Tk. 1,200.00 crore by amending Clause V of Memorandum of Association and Article 5 of the Articles of Association of the Company; (2) To consider further issue of capital of Tk. 106,79,13,610.00 comprising 10,67,91,361 ordinary shares of Tk. 10.00 each, pursuant to section 155(2) of the Companies Act, 1994 by passing extra-ordinary resolution, for acquisition of 20,39,71,500 shares of Tk. 10.00 each of Summit Meghnaghat Power Company Limited (SMPCL), equals to 30% of the Company's Equity amounting to Tk. 203,97,15,000.00 owned by Summit Industrial and Mercantile Corporation (Pvt.) Ltd. by exchange of 1.91 SMPCL shares for 1 share of SPL, subject to BSEC's consent to further issue of capital under Rule 3 of the Bangladesh Securities and Exchange Commission (Capital Issue of Companies) Rules, 2001 and Lenders of SMPCL. Date of EGM: 02.12.2014, Time: 11:00 AM, Venue: Police Convention Hall, Eskaton Garden Road, Ramna, Dhaka-1000.The Record date for EGM: 10.11.2014.
- Q3 Earnings
(Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 30th September 2014 (July'14 to Sep'14), the Company has reported consolidated net profit after tax (excluding non-controlling interests) of Tk. 417.23 million with consolidated EPS of Tk. 0.61 as against Tk. 422.04 million and Tk. 0.62 respectively for the same period of the previous year. Whereas consolidated net profit after tax (excluding non-controlling interests) was Tk. 1,614.84 million with consolidated EPS of Tk. 2.37 for the period of nine months (Jan'14 to Sep'14) ended on 30.09.2014 as against Tk. 1,591.32 million and Tk. 2.34 respectively for the same period of the previous year.
- H/Y Earnings
(H/Y): As per un-audited half yearly accounts as on 30.06.2014 (Jan'14 to June'14), the Company has reported consolidated profit after tax (excluding non-controlling interests) of Tk. 1,203.95 million with consolidated EPS of Tk. 1.77 as against Tk. 1,169.27 million and Tk. 1.72 respectively for the same period of the previous year. Whereas consolidated profit after tax (excluding non-controlling interests) was Tk. 691.67 million with consolidated EPS of Tk. 1.02 for the period of 3 months (Apr'14 to June'14) ended on 30.06.2014 as against Tk. 658.99 million and Tk. 0.97 respectively for the same period of the previous year
- credited the bonus shares
The Company has informed that it has credited the bonus shares for the year ended on December 31, 2013 to the respective shareholders' BO Accounts on July 02, 2014 (except fractional shares). The payment of sale proceeds of fractional share will be sent to registered address of the shareholders in the form of a payment advice within stipulated time.
- Basis of Qualified Opinion
The auditor of the company has given the following Basis of Qualified Opinion in the audit report of the company for the year ended on 31 December 2013: "Basis of Qualified Opinion" The Bangladesh Labour (Amendments) Act 2013 has been enacted in July 2013, which requires 5% of the company's profits to be distributed each year to a workers' profit participation fund (WPPF). The subsidiaries of the company have not made WPPF provisions as per said Labour Act requirements. Management disclosure on the issue is given in Note-48 to the financial statements. Had this provision been made in the accounts the net profit for the year ended 31 December 2013 would have been decreased by Tk. 17,983,009 for Summit Uttaranchol Power Company Limited, by Tk. 29,953,151 for Summit Purbanchol Power Company Limited and by Tk. 42,759,363 for Summit Narayanganj Power Company Limited. Like the subsidiaries the company also has not made any provision in this regard, otherwise profit of the company (SPL) would decrease by Tk. 50,795,862.
- (Basis of Qualified Opinion): The auditor of the company has given the following Basis of Qualified Opinion in the audit
(Basis of Qualified Opinion): The auditor of the company has given the following Basis of Qualified Opinion in the audit report of the company for the year ended on 31 December 2013: "Basis of Qualified Opinion" The Bangladesh Labour (Amendments) Act 2013 has been enacted in July 2013, which requires 5% of the company's profits to be distributed each year to a workers' profit participation fund (WPPF). The subsidiaries of the company have not made WPPF provisions as per said Labour Act requirements. (cont.-1)
- (continuation of news of SUMITPOWER): Management disclosure on the issue is given in Note-48 to the financial statements
(continuation of news of SUMITPOWER): Management disclosure on the issue is given in Note-48 to the financial statements. Had this provision been made in the accounts the net profit for the year ended 31 December 2013 would have been decreased by Tk. 17,983,009 for Summit Uttaranchol Power Company Limited, by Tk. 29,953,151 for Summit Purbanchol Power Company Limited and by Tk. 42,759,363 for Summit Narayanganj Power Company Limited. Like the subsidiaries the company also has not made any provision in this regard, otherwise profit of the company (SPL) would decrease by Tk. 50,795,862. (End)
The first part of this announcement is missing from the archive. - Q1 Earnings
As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2014 (Jan'14 to March'14), the Company has reported consolidated net profit after tax (excluding non-controlling interest) of Tk. 512.27 million with consolidated basic EPS of Tk. 0.87 as against Tk. 508.61 million and Tk. 0.86 respectively for the same period of the previous year. However, considering proposed bonus share @ 15% for the year 2013, consolidated restated basic EPS will be Tk. 0.75 as on 31.03.2014 and Tk. 0.75 as on 31.03.2013.
- (Q1): As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2014 (Jan'14 to March'14), the Compan
(Q1): As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2014 (Jan'14 to March'14), the Company has reported consolidated net profit after tax (excluding non-controlling interest) of Tk. 512.27 million with consolidated basic EPS of Tk. 0.87 as against Tk. 508.61 million and Tk. 0.86 respectively for the same period of the previous year. However, considering proposed bonus share @ 15% for the year 2013, consolidated restated basic EPS will be Tk. 0.75 as on 31.03.2014 and Tk. 0.75 as on 31.03.2013.
- Normal trading of the shares of the Company will resume on 19.05.2014 after record date.
Normal trading of the shares of the Company will resume on 19.05.2014 after record date.
- The Company has further informed that due to unavoidable circumstances, the 17th AGM of the Company will now be held on
The Company has further informed that due to unavoidable circumstances, the 17th AGM of the Company will now be held on June 23, 2014 at 11:00 AM at Police Convention Hall, Eskaton Gardern Road, Ramna, Dhaka-1000 instead of June 30, 2014 at Bashundhara Convention Center-2, Block-C, Umme Kulsum Road, Bashundhara R/A, Baridhara, Dhaka-1229. Other information of the AGM will remain unchanged.
- Trading of the shares of the Company will remain suspended on record date i.e., 18.05.2014.
Trading of the shares of the Company will remain suspended on record date i.e., 18.05.2014.
- Trading of the shares of the Company will be allowed only in the Spot Market and Block/Odd lot transactions will also be
Trading of the shares of the Company will be allowed only in the Spot Market and Block/Odd lot transactions will also be settled as per Spot settlement cycle with cum benefit from 14.05.2014 to 15.05.2014. Trading of the shares of the Company will remain suspended on record date i.e., 18.05.2014.
- The Board of Directors has recommended 15% stock dividend for the year ended on December 31, 2013. Date of AGM: 30.06.20
The Board of Directors has recommended 15% stock dividend for the year ended on December 31, 2013. Date of AGM: 30.06.2014. Time: 11:00 AM, Venue: Bashundhara Convention Center-2, Block-C, Umme Kulsum Road, Bashundhara R/A, Baridhara, Dhaka-1229. Record Date: 18.05.2014. The Company has also reported EPS of Tk. 3.69, NAV per share of Tk. 23.87 and NOCFPS of Tk. 4.09 for the year ended on December 31, 2013.
- There will be no price limit on the trading of the shares of the Company today (30.04.2014) following its corporate decl
There will be no price limit on the trading of the shares of the Company today (30.04.2014) following its corporate declaration.
- As per Regulation 30 of DSE Listing Regulations, the Company has informed that a meeting of the Board of Directors will
As per Regulation 30 of DSE Listing Regulations, the Company has informed that a meeting of the Board of Directors will be held on April 29, 2014 at 4:00 PM to consider, among others, audited financial statements of the Company for the year ended on December 31, 2013.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.