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JUTESPINN

All Eps Dividend Board Agm Q1 Q2 Q3

JUTESPINN 20-Nov-2014

(Continuation of News of JUTESPINN):4.During the year the Company incurred a Net Loss of BDT 74,182,221/- and the balance of cumulative loss and Share Capital are BDT 159,656,104/- and 17,000,000/- respectively, which indicates a negative position of Shareholder Equity. Despite of the above the Company's financial statements have been prepared on a going concern basis. In absence of any mitigating factors, the above situation indicates a material uncertainty which may cast a significant doubt on the Company's ability to continue as a going concern. (cont. 4)

JUTESPINN 20-Nov-2014

(Continuation of News of JUTESPINN): 3.During the year the Company's Operating Expenses include Gratuity Expenses for an amount of BDT 8,229,316.00. This Balance includes the deficit amount of provision which was required to be maintained as per last year calculation. Previous Auditor has identified the issue and modified their opinion in this regard. However management has not account for the deficit amount in compliance with Bangladesh Accounting Standards, which triggers a departure from Paragraph 43 of BAS 8 "Accounting Policies, Changes in Accounting Estimates and Errors". The Company's records indicate that had management corrected this error retrospectively, operating expenses would have decreased. Accordingly net profit would have increased. (cont. 3)

JUTESPINN 20-Nov-2014

(Continuation of News of JUTESPINN):According to paragraph 21 of BAS 21: "A foreign currency transaction shall be recorded,on initial recognition in the functional currency, by applying to the foreign currency amount the spot exchange rate between the functional currency and foreign currency at the date of the transaction". According to Paragraph 97 of BAS 1: "When items of income or expense are material, an entity shall disclose their nature and amount separately." 2.As on June 30, 2014 the closing balance of WPP & WF represents an amount of BDT 13,744,387/-. During the year the company transferred an amount of BDT 36,633,694/- from WPP & WF to Gratuity Payable. As a result, as on June 30, 2014 the Deferred Liability is understated by BDT 36,633,694/-(cont.2)

JUTESPINN 20-Nov-2014

(Qualified Opinion): "Howlader Yunus & Co", Auditor of the company has given the following qualified opinion in the audit report of the company for the year ended on 30 June 2014: Basis for Qualified Opinion 1.During the year the Company has recorded Revenues at the rate prevailing at realization date. As a result, exchange differences have not been separately disclosed by the company. This constitutes a departure from paragraph 21 of BAS 21 "The Effects of Changes in Foreign Exchange Rates" and Paragraph 97 of BAS 1 "Presentation of Financial Statements". Consequently, the aggregate effects of the foreign currency gain or loss have not been determined. (cont.1)

JUTESPINN 19-Nov-2014

Normal trading of the shares of the Company will resume on 20.11.2014 after record date.

JUTESPINN 18-Nov-2014

Trading of the shares of the Company will remain suspended on record date i.e., 19.11.2014.

JUTESPINN 17-Nov-2014

(Q1): As per un-audited quarterly accounts for the 1st quarter ended on 30th September 2014 (July'14 to Sep'14), the Company has reported net profit/(loss) after tax of Tk. (18.08) million with EPS of Tk. (10.63) as against Tk. (18.86) million and Tk. (11.10) respectively for the same period of the previous year. Accumulated profit/(loss) of the Company was Tk. (177.74) million as on 30.09.2014 resulting total shareholders' equity stands at Tk. (160.74) million.

JUTESPINN 05-Nov-2014

Trading of the shares of the Company will be allowed only in the Spot Market and Block/Odd lot transactions will also be settled as per Spot settlement cycle from 06.11.2014 to 18.11.2014. Trading of the shares of the Company will remain suspended on record date i.e., 19.11.2014.

JUTESPINN 28-Oct-2014

There will be no price limit on the trading of the shares of the Company on 29.10.2014 following its corporate declaration.

JUTESPINN 28-Oct-2014

The Board of Directors did not recommend any dividend for the year ended on June 30, 2014. Date of AGM: 20.12.2014, Time: 10:00 AM, Venue: CIRDAP Auditorium, 17 Topkhana Road, Dhaka-1000. Record Date: 19.11.2014. The Company has also reported NAV of Tk. (142.66) million, EPS of Tk. (43.64) and NOCFPS of Tk. (29.72) for the year ended on June 30, 2014.

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