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LANKABAFIN

All Eps Dividend Board Agm Q1 Q2 Q3

LANKABAFIN 17-Jun-2020

(Continuation news of LANKABAFIN): significant adverse impact on cash flow as most of the clients have chosen to avail this opportunity (no change of classification status till June 30, 2020 regardless of installment payments); ? Credit card fees, charges and accrued interest waiver from March 2020 to May 2020 declared through BRPD Circular Letter No-20 adversely affected LBFL?s earnings and cash flow from credit (cont. 8)

LANKABAFIN 17-Jun-2020

(Continuation news of LANKABAFIN): Company?s incremental business has been affected. ? Loan/lease/advance classification?s holiday/moratorium until 30 June 2020 proclaimed by Bangladesh Bank through DFIM circular no. 01, dated 24 March 2020 has affected favorably on the LBFL?s earnings as there is no need to keep additional provision for any defaulted loans until June 30, 2020. However, this has (cont. 7)

LANKABAFIN 17-Jun-2020

(Continuation news of LANKABAFIN): that will also impact the business of Banking and Non-Banking Financial Institutions. Till to the date of authorized for issue of the Financial Statements of LBFL, we observed the following known events which might have impact on revenue, profitability and cash flow: ? Limiting the company?s operation since March 26, 2020 to May 30, 2020 as per Government directions. Hence, the (cont. 6)

LANKABAFIN 17-Jun-2020

(Continuation news of LANKABAFIN): especially small- and medium-sized entities (SMEs), do not have enough cash to endure the several months during which sales will be significantly impacted. These types of client?s businesses will soon face extreme liquidity problems with the distinct possibility of them becoming bankrupt. Moreover, Bangladesh Bank circulated some new policy, as guided by the Government of Bangladesh, (cont. 5)

LANKABAFIN 17-Jun-2020

(Continuation news of LANKABAFIN): severely disrupted. As the result of lockdowns everywhere, closed borders are disrupting business locally and internationally, we have found that global economic cooperation is easily disrupted by the closed factories in affected regions. Due to a severe lack of business transactions, a cash shortage and a dramatic decrease in profits awaits almost every business. These companies, (cont. 4)

LANKABAFIN 17-Jun-2020

(Continuation news of LANKABAFIN): Dividend payable to the Company?s shareholders is recognized as a liability and deducted from the shareholders' equity in the year in which the shareholders' right to receive payment is established. Note-42 (e) Event after the Reporting Period: i) Implications of COVID-19 on business We know that COVID-19 is turning the world upside-down and the current business environments is being (cont. 3)

LANKABAFIN 17-Jun-2020

(Continuation news of LANKABAFIN): Note-2.45 Events after the Reporting Period: Where necessary, all the material events after the reporting year have been considered and appropriate adjustments / disclosures have been made in the financial statements. Implications of COVID-19 on business and Response to address the COVID-19 effects is shown in Note- 42(e). (cont. 2)

LANKABAFIN 17-Jun-2020

Emphasis of Matter: We draw attention to Notes 2.45 and 42(e) in the financial statements, which deals with subsequent events and specifically the possible effects of the future implications of COVID-19 on LankaBangla Finance Limited?s future prospects, performance and cash flows. Management have also described how they plan to deal with these events and circumstances. Our opinion is not modified in respect of this matter. (cont. 1)

LANKABAFIN 09-Jun-2020

The Company has requested the shareholders to update their e-mail addresses through their respective Depository Participant (DP). The Company has also requested the shareholders to update their respective BO account with 12 digits e-TIN number, BO account, address, mobile number etc. through their respective DPs before the Record Date.

LANKABAFIN 09-Jun-2020

(Continuation news of LANKABAFIN): ii) Bonus shares are declared out of accumulated profit and iii) Bonus shares are not 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)

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