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GLOBALINS

All Eps Dividend Board Agm Q1 Q2 Q3

GLOBALINS 22-Oct-2020

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 October 28, 2020 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on September 30, 2020.

GLOBALINS 22-Oct-2020

(Continuation news of GLOBALINS): the financial statements for the year ended 31 December 2019; and 2. We draw attention to Note 29 of the financial statements, which described the basis for not creating provision for WPPF as per the Labour Act, 2006 (as amended in 2013) in the financial statements for the year ended 31 December 2019. Our opinion is not modified in respect of these matters. (end)

GLOBALINS 22-Oct-2020

(Continuation news of GLOBALINS): that are relevant to our audit of the financial statements in Bangladesh, and we have fulfilled our other ethical responsibilities in accordance with the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. Emphasis of Matter: 1. We draw attention to Note 2.26 of the financial statement, which described the status of implementation of IFRS 16 "Leases" in (cont. 3)

GLOBALINS 22-Oct-2020

(Continuation news of GLOBALINS): with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code) together with the ethical requirements (cont. 2)

GLOBALINS 22-Oct-2020

The auditor of the Global Insurance Limited has given the "Qualified Opinion" & "Emphasis of Matter" paragraphs in the Auditor?s Report for the year ended on 31 December 2019. In this regard, we may disseminate the following news through our online trading system: Qualified Opinion: The Company has not maintained party-wise record of Collection Control Accounts (Note 7.1) which includes long outstanding receivables. We conducted our audit in accordance (cont. 1)

GLOBALINS 22-Oct-2020

(Q1 Un-audited): EPS was Tk. 1.05 for January-March 2020 as against Tk. 0.52 for January-March 2019. NOCFPS was Tk. 1.65 for January-March 2020 as against Tk. 0.44 for January-March 2019. NAV per share was Tk. 13.36 as on March 31, 2020 and Tk. 11.79 as on March 31, 2019.

GLOBALINS 22-Oct-2020

There will be no price limit on the trading of the shares of the Company today (22.10.2020) 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.

GLOBALINS 22-Oct-2020

(Continuation news of GLOBALINS): ii) The Bonus Shares have been declared out of accumulated profit. iii) The Bonus Shares have not been declared from capital reserve or revaluation 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)

GLOBALINS 22-Oct-2020

(Continuation news of GLOBALINS): The Company also informed that i) As per Insurance Act-2010 Insurance Company's paid up capital should be raised to Tk. 40,00,00,000.00. At present Company's paid up capital stand at Tk. 38,62,07,270.00. The Company has declared 5% bonus share equivalent to Tk. 1,93,10,360.00 for the year 2019 out of its accumulated profit to increase the paid up capital. (cont.2)

GLOBALINS 22-Oct-2020

The Board of Directors has recommended 5% cash and 5% stock dividend for the year ended on December 31, 2019. Date of AGM: 26.12.2020, Time: 11:00 AM, Venue: Digital Platform. Record Date: 16.11.2020. The Company has also reported EPS of Tk. 1.01, NAV per share of Tk. 12.28 and NOCFPS of Tk. 3.63 for the year ended on December 31, 2019 as against Tk. 0.51 (restated), Tk. 11.27 (restated) and Tk. 1.10 (restated) respectively for the same period of the previous year. (cont.1)

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