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 2018 (20).
- Emphasis of Matter
Emphasis of Matter: The auditor has given the following "Emphasis of Matter" in the audit report of the company prepared for year ended on 30.06.2018. Emphasis of Matters: We draw users' attention to the following notes to the financial statements: 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 the above matter.
- Q1 Financials
(Q1 Unaudited): Consolidated EPS was Tk. 1.34 from July-September 2018 as against Tk. 1.06 from July-September 2017. Consolidated NOCFPS was Tk. 0.67 from July-September 2018 as against Tk. 0.85 from July-September 2017. Consolidated NAV per share was Tk. 35.65 as on 30.09.2018 as against Tk. 31.26 as on June 30, 2018. EPS has increased by 26% due to commencement of operation of 2 new power plants, Summit Gazipur II Power Ltd. (300 MW) in May, 2018 and Ace Alliance Power Ltd. (149 MW) in July, 2018.
- Resumption after Record Date
Trading of the shares of the Company will resume on 12.11.2018 after record date.
- 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 12, 2018 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2018.
- Suspension for Record Date
Trading of the shares of the Company will remain suspended on record date i.e., 11.11.2018.
- 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 benefit from 07.11.2018 to 08.11.2018. Trading of the shares of the Company will remain suspended on record date i.e., 11.11.2018.
- Dividend Declaration
The Board of Directors has recommended 30% cash dividend for the year ended on June 30, 2018. Date of AGM: 09.12.2018, Time: 11:30 AM, Venue: Krishibid Institution Bangladesh Complex. South Block, Lebel # B-1, Krishi Khamar Sarak, Farmgate, Dhaka-1215. Record Date: 11.11.2018. The Company has also reported EPS of Tk. 4.40, NAV per share of Tk. 31.26 and NOCFPS of Tk. 4.54 for the year ended on June 30, 2018 (cont.) (Continuation news of SUMITPOWER): as against Tk. 4.00 (restated), Tk. 29.33 (restated) and Tk. 4.00 (restated) respectively for the same period of the previous year. The company has restated their financials by correcting some errors of the following affected financial statements line items for prior years: Asset Retirement Obligation (ARO), Provision for Gratuity, Deferred Tax and Investment in Associates. (end)
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (22.10.2018) following its corporate declaration.
- 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 October 21, 2018 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2018.
- Commencement of Commercial Operation of Power Plant of Ace Alliance
The Company has further informed that after successful installation, testing and commissioning, the 149 MW (HFO/Gas Fired) Power Plant at Kodda, Gazipur of Ace Alliance Power Limited (64% owned Company of Summit Power Limited) has started its commercial operation within schedule on July 12, 2018. The project is being operated on Build, Own and Operate (BOO) basis for a period of 15 years commencing on Commercial Operation Date (COD).
- Credit Rating Result
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 June 30, 2017, unaudited financials up to December 31, 2017 and other relevant quantitative as well as qualitative information up to the date of rating declaration.
- Starting of commercial operation of Summit Gazipur II Power Limited
Referring to its earlier news disseminated on 16.08.2017, the Company has further informed that after successful testing and commissioning, the 300 MW HFO fired power plant at Kodda, Gazipur of Summit Gazipur II Power Limited (a 20% owned Company of Summit Power Limited) has started its commercial operation within schedule (9 months from the date of LOI) on 10.05.2018. The project is being operated on Build, Own and Operate (BOO) basis for a period of 15 years commencing on Commercial Operation Date (COD).
- Q3 Financials
(Q3 Un-audited): Consolidated EPS was Tk. 1.04 for January-March 2018 as against Tk. 0.77 for January-March 2017; Consolidated EPS was Tk. 3.37 for July 2017-March 2018 as against Tk. 2.74 for July 2016-March 2017. Consolidated NOCFPS was Tk. 3.83 for July 2017-March 2018 as against Tk. 3.19 for July 2016-March 2017. Consolidated NAV per share was Tk. 29.09 as on March 31, 2018 and 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 April 26, 2018 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2018.
- Board decision to transfer ownership of land in favor of subsidiary
The Company has informed that the Board of Directors has decided that he management of the Company (SPL) has initiated necessary activities for transfer of ownership of 3.38 acres of land; originally purchased in the name of SPL at Kodda, Gazipur for its future expansion, in favor of its subsidiary, Ace Alliance Power Limited (AAPL), (cont.) (Continuation news of SUMITPOWER): at cost (Book Value) for establishment of a 149 MW (HFO/Gas fired) power project on the said land with acquisition of more conjoining land thereof, if required. Registration and other required formalities for the transfer of the land to the transferee are in the process. (end)
- Buy confirmation of a Corporate Sponsor
Summit Corporation Limited, one of the Corporate Sponsors of the Company, has further reported that it has completed its buy of 7,02,37,499 shares of the Company through Stock Exchange (DSE) as announced earlier.
- Buy declaration of a Corporate Sponsor
With reference to their earlier declarations disseminated by DSE on 06.03.2018 regarding transfer share of Summit Power Limited, the Company has further informed that Summit Corporation Limited, one of the Corporate Sponsors of the Company, has expressed its intention to buy 7,02,37,499 shares from Summit Holdings Limited in the Block Market through Stock Exchange (DSE) within next 30 working days. (cont.) (Continuation news of SUMITPOWER): Bangladesh Securities and Exchange Commission (BSEC) has given waiver Section 8 and 13 of Substantial Acquisition Rules, 2002 in this regard. (end)
- Board approval for share transfer from SHL to SCL
The Company has informed that the Board of Directors has approved the transfer of 7,02,37,499 ordinary shares of the Company held by Summit Holdings Limited (SHL) to Summit Corporation Limited (SCL) on terms mutually agreed by the Transferor (SHL) and the Transferee (SCL) subject to approval of Bangladesh Securities and Exchange Commission (BSEC).
- Q2 Financials
(Q2 Un-audited): Consolidated EPS was Tk. 1.35 for October-December, 2017 as against Tk. 0.97 for October-December, 2016; Consolidated EPS was Tk. 2.33 for July-December, 2017 as against Tk. 1.97 for July-December, 2016. Consolidated NOCFPS was Tk. 2.40 for July-December, 2017 as against Tk. 0.70 for July-December, 2016. Consolidated NAV per share was Tk. 28.31 as of December 31, 2017 and Tk. 29.02 as of 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 January 25, 2018 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, 2017.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.