The Financial Express

Monno Stafflers to increase authorised capital

| Updated: June 22, 2018 11:40:28

Monno Stafflers to increase authorised capital

The board of directors of Monno Jute Stafflers Limited has decided to increase the company's authorised capital to Tk 1.0 billion from existing Tk 10 million.

In this regard, the company will amend clause-5 of the memorandum of association and clause-6 of the articles of association subject to approval by the shareholders in the extraordinary general meeting (EGM), according to a disclosure on Wednesday.

The company will hold the EGM on August 09 at 10am at Islampur, Dhamrai in Dhaka. The record date is on July 12.

Meanwhile, the company's share price continued to soar without any price sensitive information (PSI) as the company's price surged further by 5.0 per cent or Tk 156.50 each to close Tk 3,287.80 on Wednesday.

It was the highest closing price of the company's share since listing with the premier bourse in 1982.

The company's share price ranged between Tk 500.10 and Tk 3,287.80 each in the last one year on the Dhaka Stock Exchange (DSE).

In the last one month, the company's share price jumped nearly 70 per cent or Tk 1,351.50 each. On May 21, its share price was Tk 1,936.30, the DSE data shows.

Following the abnormal price hike, the DSE served show-cause notice on the company several times.

However, the company informed the DSE that there was no undisclosed price sensitive information for recent unusual price hike of its shares.

The company's paid-up capital is Tk 4.60 million while total number of securities is 460,000.

The sponsor-directors own 55.90 per cent stake in the company while institutional investors own 6.46 per cent, foreign investors 05 per cent and the general public 37.59 per cent as on May 31, the DSE data shows.

The company's earnings per shares (EPS) stood at Tk 1.43 for January-March, 2018 as against only Tk 0.23 for January-March, 2017.

In nine months for July 2017-March, 2018, the company's EPS was Tk 2.95 as against Tk 0.60 for July 2016-March, 2017.

The net operating cash flow per share (NOCFPS) was Tk 19.16 for July 2017-March, 2018 as against Tk 2.53 for July 2016-March 2017.

The net asset value (NAV) per share was Tk 48.39 as on March 31, 2018 and Tk 52.25 as on June 30, 2017.

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