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TITASGAS

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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)

TITASGAS 04-Dec-2018

(Continuation news of TITASGAS): But during our audit at zone offices we could not confirm such balances with the records of zone offices as the zone offices' general ledgers were not updated, Further, any list or particulars of the parties could not be made available to us. As a result, we could not ensure the balance through circularization of balance confirmation from the parties. b) Up to the year ended 30 June 2010 the required provision for Pension Fund was determined by the Company through (cont.2)

TITASGAS 04-Dec-2018

Basis for Qualified Opinion: The auditor of the company has given the following "Basis for Qualified Opinion" paragraph in the audit report of the company prepared for the year ended on 30 June 2018. Basis for Qualified Opinion: a) Long-term liabilities as disclosed under Note # 24 to the financial statements includes customers' security deposit of Tk. 1,519.79 crore. The head office of the Company maintains control ledgers with the information being received from zone offices. (cont.1)

TITASGAS 18-Nov-2018

Trading of the shares of the Company will resume on 19.11.2018 after record date.

TITASGAS 15-Nov-2018

Trading of the shares of the Company will remain suspended on record date i.e., 18.11.2018.

TITASGAS 13-Nov-2018

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 14.11.2018 to 15.11.2018. Trading of the shares of the Company will remain suspended on record date i.e., 18.11.2018.

TITASGAS 12-Nov-2018

(Q1 Un-audited): EPS was Tk. 1.26 for July-September 2018 as against Tk. 1.28 for July-September 2017; NOCFPS was Tk. (0.16) for July-September 2018 as against Tk. (2.41) for July-September 2017. NAV per share was Tk. 68.54 as on September 30, 2018 and Tk. 67.28 as on June 30, 2018.

TITASGAS 06-Nov-2018

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 11, 2018 at 4:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2018.

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