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SUMITPOWER

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SUMITPOWER 17-Oct-2019

Trading of the Shares of the Company will resume on 20.10.2019 after record date.

SUMITPOWER 16-Oct-2019

Trading of the shares of the Company will remain suspended on record date i.e., 17.10.2019.

SUMITPOWER 14-Oct-2019

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 15.10.2019 to 16.10.2019. Trading of the shares of the Company will remain suspended on record date i.e., 17.10.2019.

SUMITPOWER 14-Oct-2019

(Continuation news of SUMITPOWER): On the basis of the recommended 5-year extension, Management is currently in negotiations with BREB over the tariff to be incorporated into the PPA from 1 September 2018. BREB has also consented to the Group to continue supplying power to it until the negotiation is completed. (end)

SUMITPOWER 14-Oct-2019

(Continuation news of SUMITPOWER): subject to extension the term of contract on the basis of mutual agreement. Under these provisions, on 17 August 2015 Management had applied to BREB for extension of the PPA for 15 years, Subsequently, BREB has recommended to Power Division of Ministry of Power, Energy and Mineral Resources of Bangladesh for an extension of only 5 years. (cont. 4)

SUMITPOWER 14-Oct-2019

(Continuation news of SUMITPOWER): Note 1.3 Ashulia Power Plant (Unit-I), Madhabdi Power Plant (Unit-I) and Chandina Power Plant (Unit-I) - extension of Power Purchase Agreement: The Group contracted with Bangladesh Rural Electrification Board ("BREB") for Power Purchase Agreement ("PPA") on 10 February 2000 to supply electricity from Ashulia power plant, Madhabdi power plant and Chandina power plant ("the plants") for 15 years to 31 August 2018(cont. 3)

SUMITPOWER 14-Oct-2019

(Continuation news of SUMITPOWER): which is yet to be signed and effective from 01 September 2018 for Ashulia, Chandina and Madhabdi - 11 MW power plants each. Our opinion is not qualified in respect of the above matters. Note 11.1 Consumable others: The amount of consumable others consolidated balance was Tk. 573,222,558.00 for the year ended on 30 June 2019 and Tk. 531,213,931.00 for the year ended on 30 June 2018. (cont. 2)

SUMITPOWER 14-Oct-2019

Emphasis of Matter: Auditor draws attention to the following notes to the financial statements: Note 11.1 wherein Management has explained that the receivables from Bangladesh Rural Electrification Board (BREB) is recoverable based on the outcome of writ petition filed in the High Court Division of the Honorable Supreme Court. Note 1.3 wherein the Management has explained that it is currently in negotiations with BREB for amendment of Power Purchase Agreement (PPA), (cont. 1)

SUMITPOWER 23-Sep-2019

There will be no price limit on the trading of the shares of the Company today (23.09.2019) following its corporate declaration.

SUMITPOWER 23-Sep-2019

The Board of Directors has recommended 35% cash dividend for the year ended on June 30, 2019. Date of AGM: 24.11.2019, Time: 11:30 AM, Venue: Krishibid Institution Bangladesh Complex (KIB), Krishi Khamar Sarak (Khamarbari), Farmgate, Dhaka-1215. Record Date: 17.10.2019. The Company has also reported EPS of Tk. 4.78, NAV per share of Tk. 32.40 and NOCFPS of Tk. 5.67 for the year ended on June 30, 2019 as against Tk. 4.40, Tk. 31.26 and Tk. 4.54 respectively for the same period of the previous year.

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