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PLFSL

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PLFSL 11-Sep-2019

(DSENEWS): Referring to the earlier news disseminated on 27.08.2019 regarding Trading suspension of Shares of the Company, upon authorization of the Board, the Management of DSE has decided to extend the suspension period of trading of shares of the Company for further period of 15 days effective from September 12, 2019 in accordance with Sub-Section (7) & (8) of the Section 9 of the Securities and Exchange Ordinance, 1969 and Regulation 50 of the Dhaka Stock Exchange (Listing) Regulations, 2015.

PLFSL 04-Sep-2019

The Company has further informed that due to unavoidable circumstances, the 23rd AGM and EGM have been postponed, which was scheduled to be held on September 17, 2019.

PLFSL 27-Aug-2019

(DSENEWS): Referring to the earlier news disseminated on 14.07.2019 and 07.08.2019 regarding suspension of Trading of Shares of the Company, the Board of Directors of Dhaka Stock Exchange Limited decided to extend the suspension period of trading of shares of the Company for further period of 15 days effective from August 28, 2019 in accordance with Sub-Section (7) & (8) of the Section 9 of the Securities and Exchange Ordinance, 1969 and Regulation 50 of the Dhaka Stock Exchange (Listing) Regulations, 2015

PLFSL 07-Aug-2019

(DSENEWS): Referring to the earlier news disseminated on 14.07.2019 regarding suspension of Trading of Shares of the Company, the Board of Directors of Dhaka Stock Exchange Limited, in its 932nd meeting held on August 06, 2019, decided to extend the suspension period of trading of shares of the Company for further period of 15 days from August 13, 2019 as per the aforesaid Regulation.

PLFSL 18-Jul-2019

The Company has informed that they have received a certificate of the Lawyer of Bangladesh Bank regarding liquidation of the Company. It was also informed that Bangladesh Bank appointed a Provisional Liquidator to take charge of the assets of the Company.

PLFSL 15-Jul-2019

(Continuation news of PLFSL): The regulatory authority requires a Non-banking Financial Institutions to have minimum paid up capital of Tk. 1,000.00 million. Amount was Tk. 1,854,405,970.00 on 31 December 2018 and Tk. 1,854,405,970.00 on 31 December 2017. (End)

PLFSL 15-Jul-2019

(Continuation news of PLFSL): Without qualifying our opinion, we draw attention to the matter disclosed in note-14.1. Note: 14.1: Capital Adequacy: The company is subject to the regulatory capital requirement as stipulated in DFM circular no. 05 dated 24 July, 2011 of Bangladesh Bank. The capital requirement for Non-banking financial institution is neither ratio based nor risk based. (cont. 5)

PLFSL 15-Jul-2019

(Continuation news of PLFSL): which ultimately reduced investment by Tk. 93,728,877.00. Provision against these investments was not made as per FID circular no. 06, dated August 20, 2006. (3) There has been made huge adjustment entries which could not satisfy us resulting which there may appear certain misstatement in the Financial Statements because of the change in new software adoption. Matter of Emphasis: (cont. 4)

PLFSL 15-Jul-2019

(Continuation news of PLFSL): Last year 's figures have been restated as per instruction by the Bangladesh Bank resulting which an amount of Tk. 7,591,167,775.00 has been incurred as loss instead of previous year of Tk. 51,995,691.00 shown as per audited financial statement. (2) The cost value of the subsidiary company PLFS Investment Limited was Tk. 200,445,000.00. The equity of this subsidiary as on 31.12.2018 was Tk. 106,716,123.00 (cont. 3)

PLFSL 15-Jul-2019

(Continuation news of PLFSL): Consolidated figure of Tk. 1,591,406,828.00 during this year under reference. The total accumulated loss as on that date showed at Tk. 23,246,824,134.00 for the total group. Moreover, the current liabilities are 3.11 times higher than that of current assets. These conditions indicate the existence of material uncertainty that may cast significant doubt about the company's ability to continue as a going concern. (cont. 2)

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