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USMANIAGL

All Eps Dividend Board Agm Q1 Q2 Q3

USMANIAGL 14-Nov-2021

(Continuation news of USMANIAGL): However, management has done Market Survey & Economic Feasibility on the new project for the production of Container Glass instead of existing outdated Sheet Glass technology but the progress is slow resulting uncertainty of the outcome from the project in near future. A disclosure regarding going concern has been made in note no. #50.00 in the financial statements. (cont.5)

USMANIAGL 14-Nov-2021

(Continuation news of USMANIAGL): till to year under report. Also, the company suffers a huge liquidity crisis to meet its day-to-day operating & non-operating activities and encased all of its FDR to meet liquidity crises. These facts indicate that the existence of material uncertainty on the ability to continue as a going concern in the foreseeable future unless the Competent authority gives future liquidity support for improving operational efficiency. (cont.4)

USMANIAGL 14-Nov-2021

(Continuation news of USMANIAGL): Production Technology of the company has become backdated compared with its competitors. For backdated technology, the cost of the product is exceeded its selling price resulting in Operating losses both in the current as well as last few years. Therefore, Usmania Glass Sheet Factory Limited has been incurring Operating loss both in current as well as for last few years and accumulated loss has arrived at the amount of Tk. 596,332,300 (cont.3)

USMANIAGL 14-Nov-2021

(Continuation news of USMANIAGL): But from the year 2018-2019 Furnace-1 is closed as there was an overstock of finished goods that remained unsold due to lower market demand & waterlogging for heavy rain and it would not restart without major overhauling. On the other hand, on 23rd June 2020, due to a major fire accident, the production process of Furnace- 2 was shut down for over a year which has suffered significant damages. Further, the company suffers huge technological problems for production. (cont.2

USMANIAGL 14-Nov-2021

The auditor of the Usmania Glass Sheet Factory Limited has given the "Qualified Opinion" & "Emphasis of matters" paragraphs in the Auditor's Report for the year ended on 30 June, 2021. Basis for Qualified Opinion: 1. Material uncertainty relating to Going Concern: Designed production capacity of Furnace-1 & 2 of "Usmania Glass Sheet Factory Limited" was 20,100,000 sft (2mm basis) in which Furnace-1 is 6,700,000 sft (2 mm basis) & Furnace-2 is 13,400,000 sft (2mm basis). (cont.1)

USMANIAGL 28-Oct-2021

(Q1 Un-audited): EPS was Tk. (0.96) for July-September 2021 as against Tk. (1.93) for July-September 2020; NOCFPS was Tk. 0.46 for July-September 2021 as against Tk. (1.01) for July-September 2020. NAV per share was Tk. 84.88 as on September 30, 2021 and Tk. 90.51 as on September 30, 2020.

USMANIAGL 28-Oct-2021

There will be no price limit on the trading of the shares of the Company today (28.10.2021) following its corporate declaration.

USMANIAGL 28-Oct-2021

The Board of Directors has recommended No dividend for the year ended on June 30, 2021. Date of AGM: 26.12.2021, Time: 10:30 AM, Venue: Virtual Platform. Record Date: 24.11.2021. The Company has also reported EPS of Tk. (6.66), NAV per share of Tk. 85.82 and NOCFPS of Tk. (2.25) for the year ended on June 30, 2021 as against Tk. (7.21), Tk. 92.45 and Tk. (5.89) respectively for the same period of the previous year.

USMANIAGL 18-Oct-2021

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 October 27, 2021 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2021.

USMANIAGL 18-Oct-2021

As per Regulation 19(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 October 27, 2021 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2021.

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