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WATACHEM

All Eps Dividend Board Agm Q1 Q2 Q3

WATACHEM 19-Nov-2019

(Continuation news of WATACHEM): 3. The company has utilized WPPF fund in its operation as internal source of financing but did not provide interest for such usage as per section 240 (3) of Labor Act 2006 as amended in 2013. Moreover, the company to manage WPPF has not constituted Board of Trustees, which is a violation of section 235 of the said Act. (cont. 4)

WATACHEM 19-Nov-2019

(Continuation news of WATACHEM): As such consistency was not maintained as per paragraph 34 of IAS 16 "Property, Plant & Equipment". Therefore, retained earnings has been understated and Revaluation reserve has been overstated to the same extent. Moreover, the company has not maintained fixed asset register properly. (cont. 3)

WATACHEM 19-Nov-2019

(Continuation news of WATACHEM): 2. The company has revalued its Plant & Machinery and Factory Building in 2008 but has not transferred depreciation on revaluation from Reserves & Surplus to Revaluation Reserve for 04 (four) years from 2008 to 2011. (cont.2)

WATACHEM 19-Nov-2019

Qualified Opinion: 1. No depreciation was charged on LABSA plant and BCP plant. The management reported that these plants are not in use since 2008. According to IAS 16 (paragraph 55), a company should not cease the depreciation when the assets become idle or is retired from active use unless the asset is fully depreciated. As a result, depreciation was undercharged by Tk. 8,307,613 for this year. (cont.1)

WATACHEM 19-Nov-2019

Trading of the Shares of the Company will resume on 20.11.2019 after record date.

WATACHEM 18-Nov-2019

Trading of the shares of the Company will remain suspended on record date i.e., 19.11.2019.

WATACHEM 17-Nov-2019

(Q1 Un-audited): EPS was Tk. 4.11 for July-September, 2019 as against Tk. 2.71 for July-September, 2018. NOCFPS was Tk. 3.00 for July-September, 2019 as against Tk. (0.74) for July-September, 2018. NAV per share was Tk. 70.93 as on September 30, 2019 and Tk. 66.85 as on June 30, 2019.

WATACHEM 14-Nov-2019

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 17.11.2019 to 18.11.2019. Trading of the shares of the Company will remain suspended on record date i.e., 19.11.2019.

WATACHEM 07-Nov-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 November 14, 2019 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, 2019.

WATACHEM 21-Oct-2019

There will be no price limit on the trading of the shares of the Company today (21.10.2019) following its corporate declaration.

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