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TITASGAS

All Eps Dividend Board Agm Q1 Q2 Q3

TITASGAS 18-Apr-2019

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 April 28, 2019 at 5:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2019.

TITASGAS 28-Jan-2019

(Q2 Un-audited): EPS was Tk. 0.89 for October-December 2018 as against Tk. 0.58 for October-December 2017; EPS was Tk. 2.14 for July-December 2018 as against Tk. 1.86 for July-December 2017. NOCFPS was Tk. 10.33 for July-December 2018 as against Tk. 0.08 for July-December 2017. NAV per share was Tk. 66.93 as on December 31, 2018 and Tk. 67.28 as of June 30, 2018.

TITASGAS 27-Jan-2019

The Company has informed that it has disbursed the cash dividend to the respective shareholders for the year ended on June 30, 2018.

TITASGAS 22-Jan-2019

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 January 27, 2019 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2018.

TITASGAS 04-Dec-2018

(Continuation news of TITASGAS): e) As disclosed in Note # 33 to the financial statements, an amount of Tk. 2.06 crore has been disclosed as "Disconnection & reduction of system loss cost" under the head "Transmission & Distribution expenses". This expense was incurred for disconnection & reduction of illegal gas connections during the year under audit, which indicates that the Company has illegal gas connections for which the Company is losing substantial amount of revenue every year. (end)

TITASGAS 04-Dec-2018

(Continuation news of TITASGAS): there is no realization till date. On a query we came to know that the said customers are not interested to pay such penal interest as well as meter rent charge which remains receivable for long. As a result, there is a substantial doubt as regards realization of said penal interest and meter rent receivable which requires full provision in the accounts. (cont.7)

TITASGAS 04-Dec-2018

(Continuation news of TITASGAS): and charges penal interest on the bill amounts of the respective customers. As such a total amount of Tk. 45.79 crore has been recognized as interest income up to 30 June 2018 and included in Trade & other receivables shown under Note 11. On the other hand, the company accounted for meter rent charges on its customers namely, PDB and Fertilizer producing companies for Tk. 31.39 crore up to the year 2017-18. Out of the said aggregated amount of Tk. 77.18 crore, (cont.6)

TITASGAS 04-Dec-2018

(Continuation news of TITASGAS): as income in the year under audit on account of realized gain from sale of all assets including land, plants, pipelines, etc. at Brahmanbaria and Ashuganj Area of the Company to Bakhrabad Gas Distribution Co. Ltd (BGDCL). This gain is actually related to the year ended 30.06.2012. As a result, profit for the year ended 30 June 2018 has been overstated by the same extent. d) Due to delay in payment of bills by the bulk customers (Power- PDB) the Company calculates (cont.5)

TITASGAS 04-Dec-2018

(Continuation news of TITASGAS): Pension Fund as on 30 June 2018. The financial statements for the year under audit revealed only Tk. 30 crore as provision for Pension Fund as on the reporting date. But we assume that the amount of required provision as on 30 June 2018 would be much more than the reported amount which could not be quantified due to lack of information. c) As disclosed in Note # 37 to the financial statements, an amount of Tk. 45.59 crore has been recognized (cont.4)

TITASGAS 04-Dec-2018

(Continuation news of TITASGAS): an actuarial valuation at Tk. 160 crore. Out of which only an amount of Tk. 50 crore was provided for till the year 2014 - 15. As a result, an amount of Tk. 110 crore remained short in provision for Pension Fund up to the year 2009 - 2010. In addition, provision @ 12.5% of the basic salary has been made from January 2012 to 30 June 2018. No further actuarial valuation has been done by Company to determine the exact amount of required provision for (cont.3)

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