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WATACHEM

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WATACHEM 22-Nov-2020

Trading of the shares of the Company will remain suspended on record date i.e., 23.11.2020.

WATACHEM 18-Nov-2020

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 19.11.2020 to 22.11.2020. Trading of the shares of the Company will remain suspended on record date i.e., 23.11.2020.

WATACHEM 16-Nov-2020

(Q1 Un-audited): EPS was Tk. 2.08 for July-September, 2020 as against Tk. 3.29 for July-September, 2019. NOCFPS was Tk. 4.33 for July-September, 2020 as against Tk. 2.40 for July-September, 2019. NAV per share was Tk. 61.08 as on September 30, 2020 and Tk. 59.02 as on June 30, 2020.

WATACHEM 09-Nov-2020

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 15, 2020 at 5:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2020.

WATACHEM 01-Nov-2020

(Continuation news of WATACHEM): 6.Reference to Note # 02 to the financial statements, the company has disclosed the policy of impairment testing as per IAS 36 in respect to its non-current assets. 7. As disclosed in Note # 1.31 to the financial statements, the company does not have Employees Gratuity Fund. (end)

WATACHEM 01-Nov-2020

(Continuation news of WATACHEM): "Advances, Prepayments and Deposits" include Taka 617,111,494 as advance against capital expenditures payment to suppliers for BMRE works in respect of new Plant & Equipment. However, a portion of such expenditure was financed by short term loan instead of long term loan. (cont.11)

WATACHEM 01-Nov-2020

(Continuation news of WATACHEM): Commissioner of Customs Excise and VAT Directorate. The Company has filed an appeal to the Appellate Tribunal which is still pending. 4.In Note # 06 to the financial statements, the Company has explained the reason for not making any loss allowance against Trade Receivable for Expected Credit Loss (ECL) in accordance with the requirements of IFRS 9. 5. As disclosed in Note # 8.02 to the financial statements (cont.10)

WATACHEM 01-Nov-2020

(Continuation news of WATACHEM): the inventories as at 30 June 2020, we have applied alternative audit procedures subsequently during our field audit works as per the guidelines issued by the International federation of Accountants (IFAC) and The Institute of Chartered Accountants of Bangladesh (ICAB) in this regard. 3.In Note # 51 to the financial statements, the company has disclosed the "Contingent Liabilities" of Taka 41,427,896 against the claim from (cont.9)

WATACHEM 01-Nov-2020

(Continuation news of WATACHEM): ended 30 June 2020. However, management's evaluation of the events and conditions and management's plans to mitigate these matters have been described in the Note # 53. 2.No physical verification of the company's inventories as disclosed in Note # 5 to the financial statements was conducted by us and by the company as on 30 June 2020 considering health and safety issues due to Corona Pandemic. However, to confirm (cont.8)

WATACHEM 01-Nov-2020

(Continuation news of WATACHEM): temporarily closed its Head Office for at least 1.5 months in response to COVID-19 while Factory operation had been continuing at very limited scale just to keep the machineries running and continuing services to Dhaka and Chittagong WASA. At this point, the Company has financially affected by the ongoing COVID-19 pandemic on the Company's business, results of operations, financial position and cash flows for the year (cont.7)

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