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FIRSTFIN

All Eps Dividend Board Agm Q1 Q2 Q3

FIRSTFIN 28-Mar-2021

(Continuation news of FIRSTFIN): BDT 205,804,139 exists in the leases, loans and advances balances between the FICL statement and the company's general ledger. The company has obtained permission from Bangladesh Bank through letter no. FIID/I-10/2018/1182 dated November 13, 2018 to adjust this difference over three (3) years starting from March 2019.During the year adjusted amount Tk.68,600,000, remaining unadjusted amount Tk. 137,204,139. (cont.5)

FIRSTFIN 28-Mar-2021

(Continuation news of FIRSTFIN): The company has obtained permission from Bangladesh Bank through letter no. DFIM(C) 1054/42/2019-1272 dated 23 June 2019 to adjust this shortfall and increase the provision amount within 5 years starting from the 2020. 7. We draw your attention to Note 07 of the financial statements which describe the effect of a difference in the balance of leases, loans, advances between the FICL statement and the company's general ledger. A difference of (cont.4)

FIRSTFIN 28-Mar-2021

(Continuation news of FIRSTFIN): 5.Tax assessment of the company did not finalize yet (From 2006-2019) which indicates additional tax liability may arise and if it is not practicable to quantify the financial effect in this regard. 6. We draw your attention to note 7.08 of the financial statement, which describe the effect of a provision shortfall against leases, loans and advances. The provision recorded by the company as at 31st December 2019 as a shortfall 460,000,000. (cont.3)

FIRSTFIN 28-Mar-2021

(Continuation news of FIRSTFIN): 2. The entity did not comply IFRS-16 (tease) for office rent expense. 3. As per labor law 2006 (Amendment 2013) Sec-234, a company must maintain WPPF but the company did not comply the said Law. 4. Withholding tax payable is amounting of Tk. 24,167,868 at 31.12.2018. Additional amount is imposed @ 2% amounting of Tk. 15,344,767 on the payable amount. So loss comes to amounting of Tk. 15,344,767 understated in accounts. (cont.2)

FIRSTFIN 28-Mar-2021

The auditor of the First Finance Limited has given the "Qualified Opinion" & "Emphasis of Matter" paragraphs in the Auditor's Report for the year ended on 30 June 2020. Qualified Opinion: 1. As per FRC Circular no- 146/FRC/2020/01 dated 11-02-2020, any amount received as share money deposit must converted to share capital within 6 months from the receiving date. The company receipts amounting Tk. 159,916 but didn't convert to share which is violation the said circular. (cont.1)

FIRSTFIN 24-Mar-2021

(Continuation news of FIRSTFIN): ii) Stock Dividend has been declared according to the approval of Bangladesh Bank. iii) Stock Dividend is not declared from capital reserve or any unrealized gain or out of profit earned prior to incorporation of the Company or through reducing paid up capital or through doing anything, so that the post dividend retained earnings become negative or a debit balance. (end)

FIRSTFIN 24-Mar-2021

Dividend Declaration (Additional Information): With reference to their earlier news disseminated by DSE on 23.03.2021, the Company has further informed that reasons for declaration of stock dividend: i) Stock Dividend has been recommended in view to utilize its retained amount as paid up capital for improving the capital adequacy and thereby facilitate future business expansion of the Company. (cont.)

FIRSTFIN 23-Mar-2021

The Company has further informed that due to unavoidable circumstances, the meeting scheduled to be held on March 22, 2021 at 4:30 PM as per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on March 31, 2020, Second Quarter (Q2) period ended on June 30, 2020 and Third Quarter (Q3) period ended on September 30, 2020, have been postponed.

FIRSTFIN 23-Mar-2021

There will be no price limit on the trading of the shares of the Company today (23.03.2021) following its corporate declaration, however, as per the BSEC Order No. BSEC/CMRRCD/2001-07/04 dated March 19, 2020, the floor price shall be applicable accordingly.

FIRSTFIN 23-Mar-2021

(Continuation news of FIRSTFIN): The Company has reported EPS of Tk. 1.16, NAV per share of Tk. 8.55 and NOCFPS of Tk. (8.51) for the year ended on December 31, 2019 as against Tk. (3.49), Tk. 7.39 and Tk. 8.91 respectively for the same period of the previous year. (end)

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