News Briefs (8-1-2019)

Delta Spinners downgraded to ‘Z’ category

Delta Spinners will be placed in 'Z' category from existing 'A' category with effect from today (Tuesday). According to a disclosure posted on DSE website, the company will be shifted to 'Z' category as it failed to hold an AGM in the Gregorian calendar year 2018. The stock brokers and merchant bankers are requested to abstain from providing loan facilities to purchase securities of Delta Spinners. As per the securities rules, margin loans are not provided against the shares of a 'Z' category company. Delta Spinners has reported a consolidated EPS was Tk. 0.07 for July-September, 2018 as against Tk. 0.05 for July-September, 2017. The consolidated NAV per share (with revaluation) was Tk. 13.42 as on September 30, 2018 and Tk. 13.36 as on June 30, 2018. Delta Spinners was listed with the stock exchanges in 1995. The company's sponsor-directors hold 18 per cent shares, institutes 15 per cent and general shareholders 67 per cent as of November 30, 2018. The company's share price closed at Tk 8.10 each on Monday with a rise of 9.46 per cent or Tk 0.70.— FE Report

Guardian Life inks deal with BRAC University

Guardian Life Insurance Limited (GLIL) has recently signed a contract with BRAC University to ensure Group Life and Health Insurance coverage for the employees of the university along with their family members. Under this Life Insurance Policy, benefits include insurance for natural death, accidental death, permanent total disability and permanent partial disability of the employees (as per the policy). Medical insurance, too, will be provided to the employees and nearest ones' for the treatment in home and abroad in different hospitals. Employees of BRAC University will also be able to enjoy different benefits from GLIL's large hospital network. S.N. Kairy, Treasurer; Monojit Kumar Ojha, FCA, Director - Finance; Shadia Alam, Deputy Director - HR from BRAC University were present. — Statement