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SUMITPOWER

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SUMITPOWER 21-Sep-2016

(Continuation news of SUMITPOWER): on September 08, 2016 from Bangladesh Power Development Board and Board of Directors of the Company has given consent to accept the same. The facility will be implemented on Build, Own and Operate (BOO) basis for a period of 15 years from the Commercial Operation Date (COD). Further information on the acquisition will be disseminated after getting information from the company. (end)

SUMITPOWER 21-Sep-2016

The Company has informed that the Company has acquired 64% shares of Ace Alliance Power Limited from Aitken Spence PLC of Sri Lanka and being the Lead and Operating Sponsor, Summit Power Limited has been entrusted with the responsibility for implementation of the 149 MW Dual Fuel (HFO/Gas) Fired Power Project at Kodda, Gazipur. Summit Power Limited has received Amendment of Letter of Intent (LOI) incorporating the changes of ownership (cont.)

SUMITPOWER 28-Aug-2016

Trading of shares of Summit Power Limited (SUMITPOWER) shall remain suspended from August 28, 2016 until further notice.

SUMITPOWER 23-Aug-2016

(Continuation news of SUMITPOWER): to Summit Power Limited in accordance with clause No. C under PART III: "Re-organization of Capital" of the scheme of amalgamation. For smooth implementation of corporate action in connection with the adjustments of reference price and number of shares, trading of shares of Summit Power Limited shall remain suspended today i.e. 23.08.2016 and the normal trading of the shares of the company shall resume on 24.08.2016 with open adjusted price (end).

SUMITPOWER 23-Aug-2016

Due to amalgamation of Summit Purbanchol Power Company Limited (SPPCL), Summit Uttaranchol Power Company Limited (SUPCL) and Summit Narayanganj Power Limited (SNPL) (collectively as Transferor companies) with Summit Power Limited (Transferee Company), the number of post amalgamation paid up shares of Summit Power Limited will be increased by 191,876,506 shares i.e. post amalgamation paid up shares of Summit Power Limited will be 1,067,877,227. It is mentionable here that, no share was issued (cont.)

SUMITPOWER 03-Aug-2016

(continuation news of SUMITPOWER): pursuant to the Scheme of Amalgamation as approved by the Hon'ble High Court Division (HCD) of the Supreme Court of Bangladesh vide its order dated July 14, 2016; and b) That Subject to submission of the certified copy of the High Court Order approving the amalgamation and the report of share valuation to RJSC&F, the Scheme of Amalgamation shall, in terms of Clause-3(5) of the Part-I of the said scheme, become effective from August 24, 2016 (end).

SUMITPOWER 03-Aug-2016

The Company has further informed that their Board of Directors has taken the following decisions: a) August 23, 2016 has been fixed as the Record Date for closing of share transfer book of Summit Purbanchol Power Company Limited (SPPCL), Summit Uttaranchol Power Company Limited (SUPCL) and Summit Narayanganj Power Limited (SNPL) and members whose names will appear in the Members' Register/Depository Register on the record date be eligible to get shares of Summit Power Limited in exchange (cont.)

SUMITPOWER 28-Jul-2016

(Continuation news of SUMITPOWER): in accordance with the stipulations made in BSEC Notification dated 18th August, 2013 to the extent that this permits adoption and adaptation to the independent valuation of shares coupled with compliance of applicable provisions of relevant BFRS and BAS as set out by the ICAB in order to reach to a share exchange ratio of Transferee Company with that of the Transferor Companies. (end)

SUMITPOWER 28-Jul-2016

(Continuation news of SUMITPOWER): valuation exercise being undertaken and completed within that time frame. Pursuant to the recommendation of the High Court Division as contained in its judgment dated 14th July, 2016 in the Company matter no. 68 of 2016, the board of directors of SPPCL, SUPCL, SNPL and SPL have resolved to appoint an independent valuer to undertake a valuation of the shares of all the companies under reference as on the 31st December, 2015, the appointed date of the merger, (cont. 3)

SUMITPOWER 28-Jul-2016

(Continuation news of SUMITPOWER): for the purpose of Section 228 read with Section 229 of the Companies Act, 1994. Furthermore it has been ordered that the merger of Transferor and Transferee companies shall be deemed to be effective on the date a certified copy of this judgment and order i.e. on 26th July, 2016, and as decided by the board of directors of all the four companies, is delivered to RJSC&F for registration within 8 weeks of the receipt of this judgment and order with the independent (cont. 2)

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