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PEOPLESINS

All Eps Dividend Board Agm Q1 Q2 Q3

PEOPLESINS 23-Jul-2020

Mr. Amir Humayun Mahmud Chowdhury, one of the Directors of the Company, has expressed his intention to buy 50,000 shares of the Company at prevailing market price (In the Block Market) through Stock Exchange (DSE) within next 30 working days.

PEOPLESINS 21-Jul-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 July 26, 2020 at 2:35 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on June 30, 2020.

PEOPLESINS 20-Jul-2020

(Continuation news of PEOPLESINS): With that being said, the Company will continue to liaison with regulators and related stakeholders and observe the market practice for uniformity and compatibility, and take necessary actions in line with regulatory guidelines and market practice. (end)

PEOPLESINS 20-Jul-2020

(Continuation news of PEOPLESINS): In addition, the industry regulator, Insurance Development Regulatory Authority (IDRA) has already remained silent on the adoption of this new accounting standard. Therefore, the Company has not taken IFRS 16 adjustment on the basis of overall materiality as specified in the materiality guidance in the "Conceptual Framework for Financial Reporting" and in IAS 1 "Presentation of Financial Statements".(cont.6)

PEOPLESINS 20-Jul-2020

(Continuation news of PEOPLESINS): The depreciation of the leased asset and interest on the lease liability is recognized in the profit or loss account over the lease term replacing the previous heading lease rent expenses. As per preliminary assessment of leases for office premises, the Company has concluded that the potential impact of these lease items on the Balance Sheet and Profit or Loss Account of the Company for the year 2019 is not considered to be material. (cont.5)

PEOPLESINS 20-Jul-2020

(Continuation news of PEOPLESINS): The Company has made a preliminary assessment on the impact of the adoption of IFRS 16 on the financial statements. With the adoption of IFRS 16, the Company would recognize a Right-of-Use Asset (i.e. the right to use the office building, branches, service centers etc.) and a corresponding liability. The asset and liability are initially measured at the present value of unavoidable lease payments. (cont.4)

PEOPLESINS 20-Jul-2020

(Continuation news of PEOPLESINS): an entity would rent an office building or branch premises for several years with such a rental agreement being classified as operating lease and they would be considered as off balance sheet item. However, IFRS 16 does not require a lease classification test and hence all leases shall be accounted for as on balance sheet item (except of limited exceptions i.e. short term lease or low value items). (cont.3)

PEOPLESINS 20-Jul-2020

(Continuation news of PEOPLESINS): this matter. Note 2(r) Adoption OF IFRS 16 ? Leases: IFRS 16 Leases is effective for annual reporting periods beginning on or after 1 January 2019. IFRS 16 defines that a contract is (or contains) a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. IFRS 16 significantly changes how a lessee accounts for operating leases. Under previous IAS 17, (cont.2)

PEOPLESINS 20-Jul-2020

The auditor of Peoples Insurance Company Ltd. has given the following "Emphasis of Matter" in the audit report of the company prepared for the year ended on 31 December 2019. Emphasis of Matter: We draw your attention to Note 2 of the financial statements which describe matters related to implementation of IFRS 16 Leases including preliminary assessment of its impact as assessed by management. Our opinion is not modified in respect of (cont.1)

PEOPLESINS 30-Jun-2020

(Q1 Un-audited): EPS was Tk. 0.43 for January-March 2020 as against Tk. 0.45 for January-March 2019. NOCFPS was Tk. 0.27 for January-March 2020 as against Tk. (0.21) for January-March 2019. NAV per share was Tk. 27.58 as on March 31, 2020 and Tk. 26.33 as on March 31, 2019.

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