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POWERGRID

All Eps Dividend Board Agm Q1 Q2 Q3

POWERGRID 05-Dec-2018

(Continuation news of POWERGRID): where we found that inventories amounting to BDT 579,682,808 were not recorded in the books of account, which indicated incomplete reporting in the financial statements. We also found that inventory register was not maintained properly. As a result, we are unable to confirm the physical existence of the items of inventories and its value as on 30 June 2018. 3. As disclosed in Note # 8, the Company has reported an amount of BDT 3,235,740,095 as receivable (cont. 4)

POWERGRID 05-Dec-2018

(Continuation news of POWERGRID): PPE is 57.52% which remained unverified as to its quantity. Moreover, the Company has never performed impairment test of its PPE which is also a non-compliance with BAS 36 paragraph 9. 2. As disclosed in Note # 7, the Company has reported an amount of BDT 1,011,360,681.00 as inventories. There are 31 offices and we have visited 20 Grid Maintenance Division (GMD) offices involving inventories amounting to BDT 1,591,043,489 (cont. 3)

POWERGRID 05-Dec-2018

(Continuation news of POWERGRID): and Dhaka Power Distribution Company (DPDC) by Power Grid Company of Bangladesh Ltd. (PGCB) without conducting physical verification and valuation thereon. It is also noted that, no physical verification of PPE was conducted either at the year-end or any time during the period under audit, as we are unable to confirm the authenticity of the physical existence of PPE as of 30 June 2018. Out of total assets of the Company, (cont. 2)

POWERGRID 05-Dec-2018

(Qualified Opinion): The auditor of the company has given the following "Qualified Opinion" Paragraphs in the audit report of the company for the year ended on 30 June 2018. Basis for Qualified Opinion: 1. As disclosed in Note # 4, the carrying amount of property, plant and equipment (PPE) was reported at BDT 115,120,606,842. No fixed asset register with the required information was available. Some items of PPE have been received from Bangladesh Power Development Board (BPDB) (cont. 1)

POWERGRID 26-Nov-2018

Trading of the shares of the Company will resume on 27.11.2018 after record date.

POWERGRID 26-Nov-2018

The Board of Directors of the Company has decided to increase the Authorized Capital of the Company from Tk. 1,000.00 crore to Tk. 10,000.00 crore by amending Memorandums of Association and Articles of Association as special resolutions in the general meeting of the shareholders.

POWERGRID 25-Nov-2018

Trading of the shares of the Company will remain suspended on record date i.e., 26.11.2018.

POWERGRID 20-Nov-2018

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 22.11.2018 to 25.11.2018. Trading of the shares of the Company will remain suspended on record date i.e., 26.11.2018.

POWERGRID 05-Nov-2018

(Q1 Un-audited): EPS was Tk. 2.43 for July-September 2018 as against Tk. 1.69 for July-September 2017; NOCFPS was Tk. 3.14 for July-September 2018 as against Tk. 2.80 for July-September 2017. NAV per share was Tk. 114.21 as on September 30, 2018 and Tk. 94.20 as on September 30, 2017.

POWERGRID 05-Nov-2018

There will be no price limit on the trading of the shares of the Company today (05.11.2018) following its corporate declaration.

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