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AIL

All Eps Dividend Board Agm Q1 Q2 Q3

AIL 25-Nov-2021

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 28.11.2021 to 29.11.2021. Trading of the shares of the Company will remain suspended on record date i.e., 30.11.2021.

AIL 14-Nov-2021

The auditor of the Alif Industries Limited has given the "Emphasis of matters" paragraphs in the Auditor's Report for the year ended on 30 June, 2021. Emphasis of matters: We refer to not no: 2.05 & 7.00 regarding the valuation and yearend count of inventory by management. We also refer to no.16 where the company restate the deferred tax liability due to previous period error and disclosed of reversal entry.

AIL 14-Nov-2021

(Continuation news of AIL): or provide adequate disclosures for IFRS-9 Financial Instruments (effective date on or after January, 2018) & IFRS16 Leases (effective date on or after January,2019). The application of mentioned International Financial Reporting Standards as adopted by Bangladesh Financial Reporting Council (FRC), may result significant Charges to the financial position & performance of the company. (end)

AIL 14-Nov-2021

(Continuation news of AIL): the management did not disclose anything regarding Bangladesh Bank Circular letter No: FEPD EXPORT Policy 220/2016-18) in the financial Statements either. In calculating liability for deferred tax (note no: 16), the company include revaluation portion of the fixed assets which is not in line with applicable regulation/accounting standards. This results in overstatement of deferred tax liability. In addition to these, the company did not applied (cont.4)

AIL 14-Nov-2021

(Continuation news of AIL): The company did not follow appropriate guideline for Workers Profit Participation Fund (WPPF) in accordance with Bangladesh Labour Act & Rules-2015. The company did not form a separate account and did not transfer the fund to workers through banking channel within stipulated time. This is a noncompliance of section-234 of Bangladesh Labour Act & Rules-2015. In addition, as a 100% export oriented company of RMG sector in Bangladesh, (cont.3)

AIL 14-Nov-2021

(Continuation news of AIL): If stated at net realizable value the closing inventory value will decrease by Tk. 3,332,313 and accordingly cost of sale would have been increased by the same amount. The profit before tax reduced to Tk. 47,276,629/- and income tax, net income & shareholders' equity would have been reduced respectively. The Earnings Per Share (EPS) would have been Tk. 1.06 instead of Tk. 1.02 (as reported by the company). (cont.2)

AIL 14-Nov-2021

The auditor of Alif Industries Limited has given the following "Qualified Opinion" paragraph in the audit report of the Company prepared for the year ended on June 30, 2020. Qualified Opinion: The company carried its inventory in the statement of financial position at Tk. 199,615,685/-. Management has not stated the inventories at the lower of cost and net realizable value which is a departure from IAS-2 Inventories. (cont.1)

AIL 10-Nov-2021

(cont. of AIL): Prepayment, Call, Refunding, Conversion; Features: The issuer has the right to redeem (call) the Bond earlier than maturity @ 0.25% premium. However, there is no put option (sold it I back to the issuer) to this issue for investors. (end)

AIL 10-Nov-2021

(cont. of AIL): The conversion rate will be at 10% discount of last 20 trading days weighted average market price of AIL; Convertibility: The Bond will be convertible @ 25% per annum from the 3rd Year, and will be fully converted into shares of AIL by at the end of the tenure. The conversion rate will be at 10% discount of last 20 trading days weighted average market price of AIL; (cont.)

AIL 10-Nov-2021

(cont. of AIL): Interest Rate/Yield: 7% base profit plus 10% of Total Dividend (Cash and Bonus) Declared to the ordinary shareholders. The interest amount will be disbursed semiannually; Maturity: 6 Year; Security: Interest amount of the said bond is fully secured by Bank Guarantee. Moreover, the principle amount is also fully secured since the entire principle amount will be converted to AIL shares at a discount price to the market. (cont.)

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