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LEGACYFOOT

All Eps Dividend Board Agm Q1 Q2 Q3

LEGACYFOOT 01-Dec-2019

Trading of the shares of the Company will be allowed only in the Spot Market and Block transactions will also be settled as per Spot settlement cycle with cum benefit from 02.12.2019 to 03.12.2019. Trading of the shares of the Company will remain suspended on record date i.e., 04.12.2019.

LEGACYFOOT 28-Nov-2019

(Continuation news of LEGACYFOOT): Our opinion is not modified in respect of the matter. Note 2.31 Limitation in operation: The company does not have a congenial working relationship with the Bank and consequently no direct export or L/C operation can be done. As a result, all transactions of company is made by cash. (end)

LEGACYFOOT 28-Nov-2019

(Continuation news of LEGACYFOOT): Thus, payment of remaining balance Tk. 8,695,511 remained unverified. Emphasis Matter: We draw users' attention to the note # 2.31 to the financial statements which describes that all transactions of the company made during the year under audit have been done by cash. Management, however, has been able to provide us with appropriate evidence during execution of audit. (cont. 5)

LEGACYFOOT 28-Nov-2019

(Continuation news of LEGACYFOOT): in consideration of provisions 6th Schedule (Part A) of Income Tax Ordinance 1984, resulting a short provision of Tk. 6,355,767. Thus, net profit after tax and Earnings Per Share (EPS) have been overstated to that extent. 4. Statement of changes in equity discloses that the company paid dividend (cash & interim) amounting to Tk. 12,226,942 during the year under audit but from the documents produced to us we confirmed only Tk. 3,531,431. (cont. 4)

LEGACYFOOT 28-Nov-2019

(Continuation news of LEGACYFOOT): Workers Welfare Foundation Fund established under section of 14 of Bangladesh Workers Welfare Foundation Act, 2006, has not been made in accordance with section 234 of Labor Act 2006 (amended in 2013). The Company failed to make the required payments within nine (9) months of finalizing the financial statements which is a violation of Section 234 of Labour Act 2006. 3. Provision for income tax for the year under audit has not been made (cont. 3)

LEGACYFOOT 28-Nov-2019

(Continuation news of LEGACYFOOT): Note 14.00: Balance of Long Term Loan from Rupali Bank as on 30.06.2019 was Taka 235,216,094 and as on 30.06.2018 was Taka 208,350,588. As per Bank record outstanding amount was Tk. 254,056,979 but the borrower has applied to the Bank for exemption or remission of interest and re-schedule the payment by 5 years. 2. Transfer of Workers Profit Participation Fund (WPPF) previously made (30 June 2018) attributable to (cont. 2)

LEGACYFOOT 28-Nov-2019

Qualified Opinion: 1. Long term loan, note # 14, discloses a balance of Tk. 235,216,094 against bank loan. But outstanding balance as of 30 June 2019 stands at Tk. 254,056,979 as per loan statements made available to us. The difference of Tk. 18,840,885 has not been recognised as liability in the financial statements. As such, profit for the year has been overstated and conversely, loan liability has been understated to that extent. (cont.1)

LEGACYFOOT 27-Nov-2019

(Q1 Un-audited): EPS was Tk. 0.18 for July-September 2019 as against Tk. 1.81 for July-September 2018; NOCFPS was Tk. 1.85 for July-September 2019 as against Tk. (0.37) for July-September 2018. NAV per share was Tk. 17.99 as on September 30, 2019 and Tk. 17.80 as on June 30, 2019.

LEGACYFOOT 24-Nov-2019

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 November 26, 2019 at 3:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2019.

LEGACYFOOT 14-Nov-2019

The Company has further informed that the Board of Directors has decided that, their 22nd AGM will now be held on December 28, 2019 at 12:30 PM instead of earlier declared date February 01, 2020. Other information will remain unchanged.

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