ZAHEENSPIN Dividend Declaration and Right Share Issuance - Share market analysis of dhaka stock exchange, Bangladesh
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20 August, 2017 11:01 AM Source: Dhaka Stock Exchange

The Board of Directors has recommended 15% stock dividend for the year ended on June 30, 2017. In line with the previous resolution adopted in the EGM held on July 16, 2017, the revised Rights offer would be for 98,552,700 ordinary shares of Tk. 10.00 each at an issue price of Tk. 10.00 each per share totaling Tk. 985,527,000.00 offered on the basis of 1:1R i.e. 1 rights share for 1 existing share held on the record date for entitlement. Fund to be raised through Rights issue will be utilized for the following purposes: A) Expansion of the Existing Project Tk. 766,027,000.00; B) Working Capital Tk. 150,000,000.00; C) Partial Repayment of Term Loan Tk. 50,000,000.00; D) Rights Issue Expenses (approx) Tk. 19,500,000.00. Total utilization of the Rights Issue Fund Tk. 985,527,000.00. While the proposal of Rights Share is still pending with BSEC and since the Board of Directors of the Company has recommended 15% stock dividend, paid up capital will be increased to Tk. 985,527,000.00 subject to approval of shareholders in the AGM. Date of AGM: 05.10.2017, Time: 9:00 AM, Venue: Sughandha Community Centre, Plot # 75/A, Road # 5/A, Sat Mosjid Road, Dhanmondi, Dhaka-1205. Record Date: 13.09.2017. The Company has also reported EPS of Tk. 1.39, NAV per share of Tk. 14.07 and NOCFPS of Tk. 0.75 for the year ended on June 30, 2017 as against Tk. 0.89 (restated), Tk. 12.68 (restated) and Tk. 1.66 (restated) respectively for the same period of the previous year. Another record date for entitlement of the proposed rights shares will be notified later after obtaining approval from BSEC.

 

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