The board of directors of Alltex Industries has decided to temporarily shut down the factory for 45 days starting from Monday to carry out the refurbishment and reinstallation of underground gas lines.
"During the reconstruction of the gas line work, all production activities will remain suspended in the factory," said the company through a disclosure posted on the Dhaka Stock Exchange (DSE) website on Tuesday.
Upon completion of the factory's gas line work and recommencement of production, the company will provide an update in this regard, according to the disclosure.
The Alltex Industries, which was listed on the DSE in 1996, is now being traded under the 'Z' category as the company failed to declare dividend for the last five years.
Five years back in 2015, the company had declared 4.0 per cent cash and 6.0 per cent stock dividends.
The Alltex Industries' net loss stood atTk 237.77 million in nine months for the period of July 2019-March 2020, according to information from the Dhaka bourse.
Accordingly, the company's earnings per share (EPS) was Tk 4.25 in the negative for July 2019-March 2020 as against minus Tk 4.80 for July 2018-March 2019.
The net operating cash flow per share (NOCFPS) was Tk 0.31 for July 2019-March 2020 as against Tk 2.02 for July 2018-March 2019.
The net asset value (NAV) per share was Tk 7.80 as on March 31, 2020 and Tk 12.05 as on June 30, 2019.
Following the news, the company's share price plunged 4.94 per cent to close at Tk 7.70 each on the Dhaka bourse.
Its share traded between Tk 5.90 and Tk 10.50 in the last one year.
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The company's paid-up capital is Tk 559.68 million and authorised capital is Tk 1.0 billion while the total number of securities is 55.96 million.
The sponsor-directors own 40.74 per cent stake in the company, while the institutional investors own 6.78 per cent and the general public 52.48 per cent as on September 30, 2020, the DSE data shows.
Alltex Industries operates is a 100 per cent export-oriented public listed company engaged in manufacturing and exporting Home-Textile products.
The company is a sister concern of Alltex Group. It was established in 1986 and in 1992 the factory made its first export shipment to Europe. The corporate office is located in Dhaka while the factory is located in Rupgonj, Narayangonj, according to its website.
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