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 2017 (24).
- Resumption after record date
Trading of the shares of the Company will resume on 03.12.2017 after record date.
- Suspension for Record Date
Trading of the shares of the Company will remain suspended on record date i.e., 30.11.2017 for EGM.
- Spot News for EGM
Trading of the shares of the Company will be allowed only in the Spot Market and Block transactions will also be settled as per Spot settlement cycle from 28.11.2017 to 29.11.2017. Trading of the shares of the Company will remain suspended on record date i.e., 30.11.2017 for EGM.
- Dividend Disbursement
The Company has informed that it has disbursed cash dividend for the 18 months period ended on June 30, 2017 to the respective shareholders' bank account through BEFTN.
- Decision to hold an EGM
The Company has informed that the Board of Directors has decided, among others, to convene an EGM on 27.12.2017 at 11:00 AM at Krishibid Institution Complex Bangladesh (KIB), Krishi Khamar Sarak, (Khamarbari), Farmgate, Dhaka-1215 to transact the following business: To replace existing sub-clause 1 and 13 of clause iii of the Memorandum of Association of the Company in the manner as under: (cont. 1) (Continuation news of SUMITPOWER): or Company engaged in any business, which the Company is authorized to carry on, including by way of entering into an arrangement or compromise in accordance with the relevant provisions of the Companies Act, 1994 (or any succeeding or subsequent enactment) or possess property suitable for the purpose of the Company." Record Date for EGM: 30.11.2017. (end) (Continuation news of SUMITPOWER): purpose, to acquire land by purchase, lease or otherwise to build, erect, install, maintain, reservoirs and any other storing facilities, subject to permission from the concerned authority where necessary and to sell electricity to the respective contracting party. And (13) To purchase or otherwise acquire and undertake all or any part of the business properties, liabilities and assets of any persons (cont.3) (Continuation news of SUMITPOWER): "(1) To design, finance, insure, build, own, operate and maintain power plants using reciprocating engines for generation of electricity at different sites for Bangladesh Rural Electrification Board (BREB), Bangladesh Power Development Board (BPDB) as well as for others in Bangladesh and abroad and to acquire every sort of fuel required for such power generation in home and abroad and for that (cont.2)
- Q1 Financials
(Q1 Unaudited): Consolidated EPS was Tk. 1.01 from July-September, 2017 as against Tk. 1.01 from July-September, 2016. Consolidated NOCFPS was Tk. 0.70 from July-September, 2017 as against Tk. 0.40 from July-September, 2016. Consolidated NAV per share was Tk. 30.28 as on September 30, 2017 which was Tk. 29.02 as on June 30, 2017.
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on November 09, 2017 at 04:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on November 09, 2017.
- Board Meeting schedule under LR 16(1) (Correction)
(Correction): As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on November 09, 2017 at 04:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2017.
- Emphasis of Matter
(Emphasis of Matters): The auditor of the company has given the following Emphasis of Matters paragraph in the audit report of the company prepared for year ended on 30 June 2017. Emphasis of Matters: We draw users' attention to the following notes to the financial statements: Note 1.3: Management explains the amalgamation process of Summit Purbanchol Power Company Limited, Summit Uttaranchal Power Company Limited and Summit Narayanganj Power Limited (cont.) (Continuation news of SUMITPOWER): with Summit Power Limited and the grounds for preparing merged financial statements for these companies as a single entity with retroactive effect from the appointed date. Note 11.1: Management explains that the receivables from Bangladesh Rural Electrification Board is recoverable based on the outcome of writ petition in the High Court Division of the Supreme Court. Our opinion is not qualified with regard to any of the above matters. (end)
- Resumption after Record Date
Trading of the shares of the Company will resume on 28.09.2017 after record date.
- Suspension for Record Date
Trading of the shares of the Company will remain suspended on record date i.e., 27.09.2017.
- Spot News
Trading of the shares of the Company will be allowed only in the Spot Market and Block transactions will also be settled as per Spot settlement cycle with cum benefits from 25.09.2017 to 26.09.2017. Trading of the shares of the Company will remain suspended on record date i.e., 27.09.2017.
- Dividend Declaration
The Board of Directors has recommended 30% cash dividend for the 18 months period ended on June 30, 2017. Date of AGM: 26.10.2017, Time: 11:00 AM, Venue: Krisibid Institute Complex BD. (KIB), Krishi Khamar Sarak (Khamarbari) Farmgate, Dhaka-1215. Record Date: 27.09.2017. The Company has also reported EPS of Tk. 5.75, NAV per share of Tk. 29.02 and NOCFPS of Tk. 4.85 for the 18 months period ended on June 30, 2017 and Tk. 3.76, Tk. 29.02 and Tk. 3.68 respectively (cont.) (Continuation news of SUMITPOWER): for the 12 months period ended on June 30, 2017. The Company has also reported EPS of Tk. 3.36 (restated), NAV per share of Tk. 26.22 and NOCFPS of Tk. 4.14 (restated) respectively for the 12 months period ended on December 31, 2015. (end)
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (10.09.2017) following its corporate declaration.
- Dividend Declaration (Revised Information)
Referring to the earlier news regarding dividend declaration of the Company, it is to be further informed that the reported financial figures of the Company are Consolidated. Other information will remain unchanged.
- Board Meeting schedule under LR 19(1)
As per Regulation 19(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on September 09, 2017 at 2:30 PM to consider, among others, audited financial statements of the Company for the 18 months period from January 01, 2016 to June 30, 2017.
- The Company and SCL received LOI from BPDB
The Company has informed that the Consortium of Summit Corporation Limited (SCL) and Summit Power Limited (SPL) has received a Letter of Intent (LOI) on 10th August, 2017 from Bangladesh Power Development Board (BPDB) for the development of a Heavy Fuel Oil (HFO) based power generation facility of 300 MW (net) capacity at Kodda, Gazipur, Bangladesh under the Private Sector Power generation policy of Bangladesh on Build, Own and Operate (BOO) basis for a period of 15 years (cont.) (Continuation news of SUMITPOWER): commencing on Commercial Operation Date (COD). The Board of Directors of the Company has given their consent to accept the same. The facility will be implemented and operated by Summit Gazipur II Power Limited, a Special Vehicle Company, sponsored by Summit Corporation Limited (SCL) with 80% shareholding and Summit Power Limited (SPL) with 20% shareholding. (end)
- Q3 Financials
(Q3 Un-audited): Consolidated EPS was Tk. 0.79 for January-March, 2017 as against Tk. 1.03 for January-March, 2016; Consolidated EPS was Tk. 2.83 for July, 2016-March, 2017 as against Tk. 2.75 for July, 2015-March, 2016. Consolidated NOCFPS was Tk. 1.84 for July, 2016-March, 2017 as against Tk. 2.15 for July, 2015-March, 2016. Consolidated NAV per share was Tk. 29.23 as of March 31, 2017 and Tk. 26.48 as of June 30, 2016.
- Revised Board Meeting schedule under LR 16(1)
The Company has further informed that a meeting of the Board of Directors, as per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, will now be held on April 29, 2017 at 1:30 PM instead of April 28, 2017 at 2:15 PM, to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2017.
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on April 28, 2017 at 2:15 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2017.
- ACE ALLIANCE signed a Power Purchase Agreement with BPDB
The Company has informed that ACE ALLIANCE POWER LIMTED (64% of Summit Power Limited) has signed the Power Purchase Agreement (PPA) for the development of a Dual Fuel (HFO/Gas) Fired Power Generation Facility of 149 MW at Kodda, Gazipur, Bangladesh with Bangladesh Power Development Board (BPDB) along with the Implementation agreement (IA) with the Government of Bangladesh (GOB).
- Credit Rating
Credit Rating Information and Services Limited (CRISL) has rated the Company as "AAA" in the long term and "ST - 1" in the short term along with a stable outlook based on audited financial statements of the Company up to December 31, 2015, un-audited financials up to September 30, 2016 and other relevant quantitative as well as qualitative information up to the date of rating declaration.
- Q2 Financials
(Q2 Un-audited): Consolidated EPS was Tk. 1.00 for October-December, 2016 as against Tk. 0.92 for October-December, 2015; Consolidated EPS was Tk. 2.04 for July-December, 2016 as against Tk. 1.76 for July-December, 2015. Consolidated NOCFPS was Tk. 0.70 for July-December, 2016 as against Tk. 2.27 for July-December, 2015. Consolidated NAV per share was Tk. 28.37 as of December 31, 2016 and Tk. 26.48 as of June 30, 2016.
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on January 31, 2017 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2016.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.