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GHAIL

All Eps Dividend Board Agm Q1 Q2 Q3

GHAIL 03-Dec-2020

The Company has informed that due to unavoidable circumstances, the 16th AGM of the company will be held on December 24, 2020 at 4:00 PM through digital platform.

GHAIL 26-Nov-2020

(Continuation news of GHAIL): Financial Year 2018-2019 with the consolidation of two subsidiaries named Golden Harvest Dairy Limited and Golden Harvest Ice Cream Limited. Hence, previous year's financial information is not fully pertinent in respect to the financial information of the current period's consolidated financial statements as Golden Harvest Ice Cream Limited was not excluded from previous year's consolidation and comparatives. (end)

GHAIL 26-Nov-2020

(Continuation news of GHAIL): information for narrative and descriptive information if it is relevant to understanding the current period's financial statements. However, the Company has consolidated one subsidiary company named Golden Harvest Dairy Limited in its consolidated financial statements for the Financial Year 2019-2020. On the other hand, the comparative financial information shown for the corresponding(cont.8)

GHAIL 26-Nov-2020

(Continuation news of GHAIL): of its financial statements, the management of the Company has explained the reasons for decrease in EPS from Taka 1.93 in the previous year to Taka 0.04 this year. Our opinion is not modified in respect of this matter. 4. As per IAS 01 (Para-38), an entity present comparative information in respect of the preceding period for all amounts reported in the current period's financial statements. An entity also includes comparative (cont.7)

GHAIL 26-Nov-2020

(Continuation news of GHAIL): issues due to Corona Pandemic. However, to confirm the inventories as at 30 June 2020, we have applied alternative audit procedures subsequently during our field audit works as per the guidelines issued by the International Federation of Accountants (IFAC) and The Institute of Chartered Accountants of Bangladesh (ICAB) in this regard. Our opinion is not modified in respect of this matter. 3. Reference to Note # 37 "Earning per Share" (cont.6)

GHAIL 26-Nov-2020

(Continuation news of GHAIL): 30 June 2020. However, management's evaluation of the events and conditions and management's plans to mitigate these matters has been described in the Note # 42.05. Our opinion is not modified in respect of this matter. 2. No physical verification of the company's inventories as disclosed in Note # 12 to the consolidated financial statements was conducted by us and by the company as on 30 June 2020 considering health and safety (cont.5)

GHAIL 26-Nov-2020

(Continuation news of GHAIL): to the consolidated financial statements, the Company temporarily closed its Head Office for at least 2.5 months in response to COVID-19 while Factory operation had been continuing at a very limited scale just to keep the machineries running. At this point, the Company has financially affected by the ongoing COVID-19 pandemic on the Company's business, results of operations, financial position and cash flows for the year ended (cont.4)

GHAIL 26-Nov-2020

(Continuation news of GHAIL): financial statements, the Company has provided a total amount of Taka 816,825,508 as loan to Sister Concerns which is shown under the head of "Other Receivables" as current assets in the financial statements as on 30 June 2020. However, the Company has not taken any approval of Shareholders in the Annual General Meeting (AGM) for the said loans to the Sister Concerns. Emphasis of Matter: 1. As disclosed in Note # 42.05 (cont.3)

GHAIL 26-Nov-2020

(Continuation news of GHAIL): "Employees Welfare Fund, Bangladesh Workers Welfare Fund and Workers Profit Participation fund" of Taka 3,175,464, Taka 3,290,240 and Taka 15,256,025 respectively as current liabilities in the consolidated financial statements as on 30 June 2020. However, the amount has not been distributed yet with a proportion of among these funds as per the Labor Act 2006 as amended in 2013. 2. Reference to Note # 14A.02 to the (cont.2)

GHAIL 26-Nov-2020

The auditor of the Golden Harvest Agro Industries Ltd 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. Reference to Note # 25.02 to the consolidated financial statements, provision for Workers Profit Participation Fund (WPPF) of Taka 21,721,729 has been provided by the company and the same is shown under the head of (cont.1)

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