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SONARGAON

All Eps Dividend Board Agm Q1 Q2 Q3

SONARGAON 24-Nov-2020

(Continuation news of SONARGAON): Though the production facility is not currently operational, but the management has the intention to start its production facility again as early as possible. With a bid to augment its revenue followed by its financial position the company has resorted to some measures which envisage company's ability to continue as a going concern. (end)

SONARGAON 24-Nov-2020

(Continuation news of SONARGAON): Note 2.7.3.- Going Concern: This financial statement has been prepared on the assumption that the entity is a going concern and will continue its business for the foreseeable future. Hence it is assumed that despite of consecutive two years losses and changes of key management the entity has neither the intention nor the need to liquidate or curtail materially the scale of its operation. (cont.3)

SONARGAON 24-Nov-2020

(Continuation news of SONARGAON): retained earnings of BDT 55,453,156. As of the signing of this report, the Company's production facility is not operational. As stated in Note 2.7.3, these events or conditions, along with other matters as set forth in Note 2.7.3, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. (cont.2)

SONARGAON 24-Nov-2020

The auditor of Sonargaon Textiles Ltd has given the following "Material Uncertainty Related to Going Concern" paragraph in the audit report of the Company prepared for the year ended on June 30, 2020. Material Uncertainty Related to Going Concern: We draw attention to Note 2.7.3 in the financial statements, which indicates that the Company incurred a net loss of BDT 98,563,119 during the year ended June 30, 2020 and, as of that date, the has negative (cont.1)

SONARGAON 22-Nov-2020

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 from 23.11.2020 to 24.11.2020. Trading of the shares of the Company will remain suspended on record date i.e., 25.11.2020.

SONARGAON 15-Nov-2020

(Continuation news of SONARGAON): in EPS, NAV and NOCFPS as follows: EPS has decreased due to fail in production volume for adverse effect of COVID 19 resulting full closure of Mill in the 1st quarter. NAV has decreased due to Net loss after Tax, decrease in the Company's Retained Earnings and Assets. NOCFPS has been decreased due to lower sales and collection in the 1st quarter under review. (end)

SONARGAON 15-Nov-2020

(Q1 Un-audited): EPS was Tk. (0.41) for July-September 2020 as against Tk. 0.07 for July-September 2019; NOCFPS was Tk. (0.24) for July-September 2020 as against Tk. 0.03 for July-September 2019. NAV per share was Tk. 24.01 as on September 30, 2020 and Tk. 24.43 as on June 30, 2020. The Company has also informed that reason for significant deviation (cont.)

SONARGAON 02-Nov-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 November 12, 2020 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2020.

SONARGAON 01-Nov-2020

(Continuation news of SONARGAON): on-going legal proceedings with two of their financial institutions: Mutual Trust Bank Limited and Bangladesh Development Bank Limited. Our audit opinion is not qualified in respect to this matter emphasized. (end)

SONARGAON 01-Nov-2020

(Continuation news of SONARGAON): In respect of amount of TK 115,908,494 which is seems to unrealizable and the management did not make provision on the doubtful receivable. So the financial statements are misstated by the overstatement of Trade & Other Receivables by the amount. Emphasis of Matter: We would like to draw your attention to Note 14 which describes the Company's(cont.2)

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