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The Financial Express

Yeakin Polymer downgraded to ‘B’ category

FE Online Report | Published: December 21, 2017 15:29:47 | Updated: December 23, 2017 10:24:24


Yeakin Polymer downgraded to ‘B’ category

Yeakin Polymer Limited will be downgraded to ‘B’ category from existing ‘A’ category with effect from Sunday next as the company approved only 5.0 per cent stock dividend for the year ended on June 30, 2017.

 “The stock brokers and merchant bankers are requested to abstain from providing loan facilities to their clients against trading of the shares of Yeakin up to 30 trading days from December 24 as per securities regulator’s directive in this regard,” said a disclosure posted on the Chittagong Stock Exchange (CSE) on Thursday.

The board of directors of the company has declared 5.0 per cent stock for the year ended on June 30, 2017. In 2016, the company disbursed 10 per cent stock dividend.

The company has also reported EPS of Tk 0.58, NAV per share of Tk 13.00 and NOCFPS of Tk 0.05 for the year ended on June 30, 2017 as against Tk 0.66 (restated), Tk 15.62 and Tk 0.80 (restated) respectively for the same period of the previous year.

The annual general meeting (AGM) was held on November 14.

Each share of the company, which was listed on the Dhaka bourse in 2016, closed at Tk 22.50 on Thursday on the DSE.

The company’s paid-up capital is Tk 649 million and authorised capital is Tk 1.0 billion while the total number of securities is 64.90 million.

Sponsor-directors own 30.52 per cent stake in the company while institutional investors own 16.19 per cent and the general public 53.29 per cent as on November 30, 2017, the DSE data shows.

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