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ACFL

All Eps Dividend Board Agm Q1 Q2 Q3

ACFL 16-Nov-2021

(Continuation news of ACFL): a) There Is no claim against the company not acknowledged as debt. b) There Is no un-availed credit facilities, other than those in the normal course of business, available to the company as on 30 June, 2021. c) The income Tax related to the Assessment year 2012-2013, 2013-2014, 2014-2015, 2015-2016 & 2016-2017, 2017-2018, 2018-2019, 2019-2020 & 2020-2021 against the DCT Assessment order is under Appeal Reference with the Tax Authority. (cont.6)

ACFL 16-Nov-2021

(Continuation news of ACFL): 5. We draw attention to note no- 2.22 of the financial statements, which describe the effects of prior year adjustment of Inventory, Accounts Receivables & Unclaimed Dividend in accordance with Para 40 A of IAS-1 "presentation of Financial Statements" and 22, 42 & 49 of IAS-8 "Accounting Policies, Changes in Accounting Estimates and Errors". Note 34.00 Contingent liabilities & Capital Commitments: (cont.5)

ACFL 16-Nov-2021

(Continuation news of ACFL): During the audit, no movement has occurred against the said balances. 4. We draw attention to note- 34 to the financial statements where management explain the circumstances of various contingencies and additional claims of explains additional Income Tax Demand from Income Tax Authority, the uncertainties of getting judgment in favor of the company and managements position on the same. Our opinion is not modified in respect of this matter. (cont.4)

ACFL 16-Nov-2021

(Continuation news of ACFL): The Company carried out transactions with related parties without obtaining necessary Consent from the Bangladesh Securities and Exchange Commission (BSEC). 3. As referred to Note# 8.0 in the financial statements, the Company recorded advances, deposits and prepayments of Tk. 872,596,025 which includes advance against Land purchases of Tk. 123,337,500 and Advance against Land Development Tk. 9,227,119 carry forwarded from last year. (cont.3)

ACFL 16-Nov-2021

(Continuation news of ACFL): Emphasis of Matters: 1. According to IPO Utilization Audit Reports as of February 28, 2021. The company has un-utilized IPO proceeds is Tk.717,498,337 and the Shareholders of Aman Cotton Fibrous limited was approved the revised time line for fund utilization of IPO proceed up to 31st August 2023. 2. As disclosed in Note # 9 to the financial statements, Loan to sister concern shown balance of Tk. 279,637,617. (cont.2)

ACFL 16-Nov-2021

The auditor of the Aman Cotton Fibrous Limited has given the "Qualified Opinion" & "Emphasis of matters" paragraphs in the Auditor's Report for the year ended on 30 June, 2021. Basis for Qualified Opinion: 1. The Bangladesh Labor (amended) act 2013 requires the company to contribute 5% of its net profit to WPPF. The management has ascertained the amount and made necessary provision without any payment. (cont.1)

ACFL 15-Nov-2021

(Q1 Un-audited): EPS was Tk. 0.27 for July-September 2021 as against Tk. 0.30 for July-September 2020; NOCFPS was Tk. 3.13 for July-September 2021 as against Tk. 0.24 for July-September 2020. NAV per share was Tk. 34.99 as on September 30, 2021 and Tk. 34.72 as on June 30, 2021.

ACFL 11-Nov-2021

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 14, 2021 at 7:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2021.

ACFL 01-Nov-2021

There will be no price limit on the trading of the shares of the Company today (01.11.2021) following its corporate declaration.

ACFL 01-Nov-2021

(Continuation news of ACFL): Also noted that Earnings Per Share (EPS) of Tk. 1.25: Sales has been increased this year (2020-2021) to Tk. 1,624,746,802.00 from previous year (2019-2020) of Tk. 981,683,483.00 by 65.50%. Unit sales price of yarn per Kg has been increased also from previous year. (end)

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