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SONARGAON

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SONARGAON 28-Nov-2021

Trading of the shares of the Company will resume on 29.11.2021 after record date.

SONARGAON 25-Nov-2021

Trading of the shares of the Company will remain suspended on record date i.e., 28.11.2021.

SONARGAON 23-Nov-2021

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 24.11.2021 to 25.11.2021. Trading of the shares of the Company will remain suspended on record date i.e., 28.11.2021.

SONARGAON 17-Nov-2021

(Continuation news of SONARGAON): The facility of the company was also closed for significant period during the previous financial year. As stated in above, these events or conditions, 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 to this matter. (end)

SONARGAON 17-Nov-2021

(Continuation news of SONARGAON): which indicates that the Company incurred a Operating loss of BDT 55,280,215 during the year ended June 30, 2021 and, as of that date, the has negative retained earnings of BDT 395,615,498. As of the signing of this report, the Company's production facility is operational but it is to be noted that the company's facility was closed for 10 months out of 12 months in the June 30 2021 financial year. (cont.7)

SONARGAON 17-Nov-2021

(Continuation news of SONARGAON): Company's 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. Material Uncertainty Related to Going Concern: We draw attention to Statement of Profit and Loss and Other Comprehensive Income in the financial statements, (cont.6)

SONARGAON 17-Nov-2021

(Continuation news of SONARGAON): In respect of the addition, the payment Was made by cash, which is a violation of Income tax Ordinance 1984, section 30(m). which states that no entity is allowed to make payment exceeding taka fifty thousand or more in cash excluding: salary to an employee or any payment for government obligation or any payment on account of purchase of raw material. Emphasis of Matter: We would like to draw your attention to Note 14 which describes the (cont.5)

SONARGAON 17-Nov-2021

(Continuation news of SONARGAON): In respect of the addition, the payment Was made by cash, which is a violation of Income tax Ordinance 1984, section 30(m). which states that no entity is allowed to make payment exceeding taka fifty thousand or more in cash excluding: salary to an employee or any payment for government obligation or any payment on account of purchase of raw material. Emphasis of Matter: We would like to draw your attention to Note 14 which describes the (cont.5)

SONARGAON 17-Nov-2021

(Continuation news of SONARGAON): Welfare Fund and Workers Welfare Foundation Fund established under section 14 of the Bangladesh Workers Welfare Foundation Act, 2006. 3. As disclosed in the note # 4.00 to the financial statements regarding Property Plant and Equipment, amounting to TK 842,742,314. During the year the company's addition to the Property, Plant and Equipment amounts to Tk.213,071,827. (cont.4)

SONARGAON 17-Nov-2021

(Continuation news of SONARGAON): 2. The company have not paid its WPPF contribution for the year 2018-2019 and 2019-2020. This is a violation of the Bangladesh Labour Act 2006 Section 234, Subsection 2. Under the act, the company is supposed to pay, within 9 (nine) months of the close of every year, five percent (5%) of the net profit of the previous year at the proportion of 80:10:10 to respectively the Participatory Fund, (cont.3)

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