Wata Chemicals Limited announcements
195 Dhaka Stock Exchange announcements for Wata Chemicals Limited (WATACHEM) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2016 (21).
- Stock Dividend Disbursement
The Company has informed that it has credited 10% bonus shares for the period ended on June 30, 2016.
- Q1
EPS was Tk. 1.27 for July-September, 2016 as against Tk. 0.58 for July-September, 2015; NOCFPS was Tk. (3.41) for July-September, 2016 as against Tk. (2.78) for July-September, 2015. NAV per share was Tk. 84.86 as of September 30, 2016 and Tk. 83.59 as of September 30, 2015.
- 18 months audited financial statements
The Company has informed that the Board of Directors has adopted the audited financial statements for the 18 months period from January 01, 2015 to June 30, 2016. The Company has informed that 10% cash dividend & 10% stock dividend which was declared earlier by the Board of Directors for the year ended on December 31, 2015 will remain unchanged for the 18 months period ended on June 30, 2016. The earlier declared Record Date i.e. 29.03.2016 will remain unchanged.New Date of AGM: 19.12.2016, Time: 11:00 AM, Venue: 3D Seminar Hall, Krishibid Institute Bangladesh. The Company has reported EPS of Tk. 6.08 and NOCFPS of Tk. 8.51 for the 18 months period from January 01, 2015 to June 30, 2016 & NAV per share of Tk. 106.87 as on June 30, 2016.
- news regarding Dividend Declaration for the 12 months period
With reference to their earlier news (disseminated by DSE on 06.03.2016) regarding Dividend Declaration for the 12 months period ended on December 31, 2015, the Company has revised their NAV per share for the year ended on December 31, 2015 and December 31, 2014 as Tk. 87.73 and Tk. 89.62 respectively for the above periods which were mistakenly reported by the company as Tk. 81.86 and Tk. 77.85 (restated) respectively, in the news disseminated on 06.03.2016.
- 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 December 08, 2016 at 4:15 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2016.
- 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 December 06, 2016 at 4:15 PM to consider, among others, audited financial statements of the Company for the 18 months period from January 01, 2015 to June 30, 2016.
- Postponement of AGM
The Company has further informed that the 34th AGM of the Company has been postponed to comply with BSEC Directives ref SEC/SRMIC/2011/1240/445 for bringing uniformity in the company's financial year by making it July to June.
- Unaudited Financial Information
EPS was Tk. 1.05 for January-March, 2016 as against Tk. 0.95 for January-March, 2015. NOCFPS was Tk. 2.31 for January-March, 2016 as against Tk. 2.63 for January-March, 2015. NAV per share was Tk. 82.51 as of March 31, 2016 and Tk. 78.80 as of March 31, 2015.
- Board Meeting
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 May 12, 2016 at 4:15 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on March 31, 2016.
- Declaration of sale by Sponsors
Abdur Rob Jomadder and Zobeda Nahar, both are Sponsors of the Company, have expressed their intention to sell 4,500 shares and 5,500 shares out of their total holding of 14,500 shares and 24,250 shares respectively at prevailing market price through Stock Exchange within next 30 working days.
- Date and Venue of AGM
With reference to their earlier news (disseminated by DSE on 06.03.2016), regarding dividend declaration, the Company has further informed that under unavoidable circumstances, the date of AGM has to be changed from 16th April, 2016 to 14th May 2016 at 11:00 AM. Venue of the AGM will be in Krishibid Institution, Farmgate, Dhaka.
- Issuance of Debenture
With reference to their earlier news (disseminated by DSE on 06.12.2015), the Company has further informed that Bangladesh Securities and Exchange Commission vide its letter number BSEC/CI/DS-42/2016/192, dated 04.04.2016, has accorded the Company with their consent under the provisions of the Securities and Exchange Commission (Issue of Capital) Rules-2001 and Securities and Exchange Commission (Private Placement) Rules-2012 for issuance of Redeemable, Non convertible, Non cumulative, Non participative Debenture of Tk. 35.00 crore to be purchased by Investment Corporation of Bangladesh.
- Resumption after Record date
Normal trading of the shares of the Company will resume on 30.03.2016 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 29.03.2016.
- Spot for AGM
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 27.03.2016 to 28.03.2016. Trading of the shares of the Company will remain suspended on record date i.e., 29.03.2016.
- Emphasis of Matter
The auditor of the company has given the following emphasis of matter in the audit report of the company for the year ended on 31 December 2015: Emphasis of Matter: 01. As disclosed in Note-24.00, ICB provided debenture loan with due interest had been fully repaid on or before 31.12.2015. Last installment was due on 18.11.2017. But entire loan was fully repaid before 31.12.2015. As reported by management , company applied for another new debenture loan of TK. 35 crore.repayable in 20 quarterly installments with interest @ 14.5% p.a. ICB sanctioned this loan vide their letter dated 16.11.2015. But consent from BSEC is still awaiting. 02. As disclosed in Note-2.00, depreciation charged on written down value of Sulfuric Acid Plant, Alum Plant, Zinc sulphate plant, Magnesium sulphate Plant and utility Plants amounting to TK. 17,116,597 following reducing balance method Here it is to be mentioned that total revaluation increase (except land & land development) was TK. 402,162,823. (Note-20.00). 03. Revaluation reserve of Tk. 491,429,573 had been arisen on revaluation done by one valuer firm and taken into accounts in the year 2008 as per decision of the Board of Director. Revaluation reserve had been carried on accounts without any adjustment till year 2012. However, an adjustment of Tk. 45,373,651 was made with revaluation reserve for depreciation adjustment for the year 2012, 2013, 2014 & 2015 as per BAS-16 (Note-21.00). 04. Raw materials stock for value of Tk. 88,100,431, finished goods stock for value of Tk. 98,489,338 and Stores & Spares for value of Tk. 2,300,000 was taken into accounts as certified by management. Inventories include old stock value of Tk. 32,557,959. No provision was made against old stock as legal case against old Directors is reportedly still pending with court (Note-4.00). 05. As disclosed in Note-6.00, trade debtors include old balance amounting to Tk. 3,660,307 with no movement which appear to us is doubtful of recovery. But no amount has been provided in the accounts against this bad book debts. 06. As disclosed in Note-16.00, Total tax liability (including interest up to 31.12.2014 was Tk. 64,997,100) (Sch-14) where as tax provision in accounts up to 31.12.2014 was Tk. 42,696,132 . Balance of Tk. 22,300,968 had not been taken into accounts. As reported management disputes with above tax liability. As such difference liability amount of Tk. 22,300,968 had not been taken into accounts. 07. As disclosed in Note-8.04, Commissioner of customs, Excise and VAT has raised claim for amount Tk. 41,427,896 against Company on the basis of their audit objection.An appeal has been filed by Company with Appellate Tribunal after payment of Tk. 4,142,790 equal to 10% claim amount. Appeal is still pending with Tribunal. No additional liability as per their demand has been accounted for.
- Dividend Declaration
The Board of Directors has recommended 10% cash & 10% stock dividend for the year ended on 31.12.2015. Date of AGM: 16.04.2016, Time: 11:00 AM, Venue: Will be notified later. Record Date: 29.03.2016. The Company has also reported Net Profit after Tax of Tk. 31.64 million, EPS of Tk. 4.01, NAV per share of Tk. 81.86 and NOCFPS of Tk. 5.46 for the year ended on 31.12.15 as against Tk. 36.57 million, Tk. 4.63 (restated), Tk. 77.85 (restated) and Tk. 2.78 (restated) respectively for the year ended on 31.12.14.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (06.03.2016) following its corporate declaration.
- Updating information
The Company has requested the Shareholders' to update their respective Bank Accounts Number, address, contact number, email and e-Tin number through their respective DPs before the Record Date.
- 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 March 05, 2016 at 4:15 PM to consider, among others, audited financial statements of the Company for the year ended on December 31, 2015.
- Credit Rating Result
Emerging Credit Rating Limited (ECRL) has assigned Surveillance rating of the Company as "BBB" in the long term and "ECRL - 3" in the short term along with a Stable outlook of the Company based on audited financial statements up to December 31, 2014, unaudited financial statements up to June 30, 2015 and other available quantitative and qualitative information up to date of rating.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.