Olympic Accessories Limited Result amd Aplication

“If you have any query about this document, you may consult issuer, issue manager and underwriter”
PROSPECTUS
of
Olympic Accessories Limited
Registered Office: House # 54 (1st Floor), Road # 08,
Block # D, Niketon, Gulshan-1, Dhaka-1212.
Tel: +88-02-9861878, Fax: +88-02-9862181
E-mail: info@olympicaccessoriesbd.com
Web address: www.olympicaccessoriesbd.com
ISSUE SIZE:
Public Issue of 20,000,000 Ordinary Shares of Tk. 10.00 each at par amounting to Tk. 200,000,000.00
SUBSCRIPTION OPENING AND CLOSING DATE:
For Resident Bangladeshis - Opening Date: April 19, 2015 Closing Date: April 23, 2015
For Non-Resident Bangladeshis - Opening Date: April 19, 2015 Closing Date: May 02, 2015
MANAGERS TO THE ISSUE:
PLFS Investments Limited CAPM Advisory Limited
Paramount Heights, 13th Floor, 65/2/1 Box Culvert
Road, Purana Paltan, Dhaka-1000.
Tel: +88-02-9551036, 9551041, Fax: +88-02-7125396
Website: www.plfsil.com
Tower Hamlet (9th Floor), 16, Kemal Ataturk Avenue
Banani C/A, Dhaka-1213.
Tel: +88-02- 9822391-2, Fax: +88-02-9822393
Website: www.capmadvisorybd.com
UNDERWRITERS:
AFC Capital Limited
Tanaka Tower (2nd Floor),
42/1/Gha, Segun Bagicha, Dhaka-1000.
Tel: +88-02-7120795; +88-02-7121348
Fax: +88-02-7121348; +88-02-9550040
Website: www.afccapital.org
CAPM Advisory Limited
Tower Hamlet (9th Floor),
16, Kemal Ataturk Avenue, Banani C/A, Dhaka-1213.
Tel: +88-02 9822391-2,
Fax: +88-02-9822393
Website: www.capmadvisorybd.com
PLFS Investments Limited
Paramount Heights, 13th Floor, 65/2/1 Box Culvert Road,
Purana Paltan, Dhaka-1000.
Phone: +88-02-9551036, 9551041, Fax: +88-02-7125396
Website: www.plfsil.com
NBL Capital and Equity Management Limited
Printers Building (8th Floor), 5 Rajuk Avenue, Dhaka-1000.
Tel : +88-02-7118869, 7118974, 7126053,
PABX : +88-02-7118436, Ext. 152 – 185
Fax : +88-02-7118840
Issue date of the prospectus: March 19, 2015
The issue shall be placed in ‘N’ category
“CONSENT OF THE BANGLADESH SECURITIES AND EXCHANGE COMMISSION HAS BEEN OBTAINED TO THE ISSUE/OFFER
OF THESE SECURITIES UNDER THE SECURITIES AND EXCHANGE ORDINANCE, 1969, AND THE SECURITIES AND EXCHANGE
COMMISSION (PUBLIC ISSUE) RULES, 2006. IT MUST BE DISTINCTLY UNDERSTOOD THAT IN GIVING THIS CONSENT THE
COMMISSION DOES NOT TAKE ANY RESPONSIBILITY FOR THE FINANCIAL SOUNDNESS OF THE ISSUER COMPANY, ANY OF
ITS PROJECTS OR THE ISSUE PRICE OF ITS SECURITIES OR FOR THE CORRECTNESS OF ANY OF THE STATEMENTS MADE OR
OPINION EXPRESSED WITH REGARD TO THEM. SUCH RESPONSIBILITY LIES WITH THE ISSUER, ITS DIRECTORS, CHIEF
EXECUTIVE OFFICER/CHIEF FINANCIAL OFFICER, ISSUE MANAGER, UNDERWRITER AND/OR AUDITOR"
Olympic Accessories Limited
Page | II
AVAILABILITY OF PROSPECTUS
The Prospectuses of the Company shall be obtained from the following addresses:
NAME & ADDRESS CONTACT PERSON CONTACT NUMBER
COMPANY
OLYMPIC ACCESSORIES LIMITED
House # 54, Road # 08, Block # D,
Niketon, Gulshan-01, Dhaka- 1212.
Md. ZafranTareque Chowdhury
Chief Financial Officer
Tel: +88-02-9861878,
Fax: +88-02-9862181
Email:info@olympicaccessoriesbd.com
ISSUE MANAGERS
PLFS INVESTMENTS LIMITED
Paramount Heights, 13th Floor,
65/2/1 Box Culvert Road, Purana Paltan,
Dhaka-1000.
Nripendra Chandra Pandit
Chief Executive Officer (C.C.)
Tel: +88-02-9551036, 9551041,
Fax: +88-02-7125396
E-mail:plfsilbd@gmail.com
CAPM ADVISORY LIMITED
Tower Hamlet (9th Floor),
16, Kemal Ataturk Avenue Banani C/A,
Dhaka-1213,
Mufakhkharul Islam
Managing Director & CEO
Tel: +8802 9822391-2
Fax: +88-02-9822393
E-mail:contact@capmadvisorybd.com
UNDERWRITERS
AFC CAPITAL LIMITED
Tanaka Tower (2nd Floor),
42/1/Gha, Segun Bagicha, Dhaka-1000.
Mahbub H. Mazumdar FCMA
Chief Executive
Tel: +88-02-7120795; +88-02-7121348
Fax: +88-02-7121348; +88-02-9550040,
E-mail:capital.afc@gmail.com
PLFS INVESTMENTS LIMITED
Paramount Heights, 13th Floor, 65/2/1
Box Culvert Road, Purana Paltan,
Dhaka-1000.
Nripendra Chandra Pandit
Chief Executive Officer (C.C.)
Tel: +88-02-9551036, 9551041,
Fax: +88-02-7125396
E-mail:plfsilbd@gmail.com
CAPM ADVISORY LIMITED
Tower Hamlet (9th Floor),
16, Kemal Ataturk Avenue Banani C/A,
Dhaka-1213.
Mufakhkharul Islam
Managing Director & CEO
Tel: +88-02-9822391-2
Fax: +88-02-9822393
E-mail:contact@capmadvisorybd.com
NBL CAPITAL AND EQUITY MANAGEMENT LTD.
Printers Building, (8th Floor),
5 Rajuk Avenue, Dhaka-1000.
Md. Tariqul Islam
Chief Executive Officer (CC)
Tel:+88-02-7118869,7118974,7126053
PABX : +88-02-7118436, Ext. 152– 185
Fax: +88-02-7118840
E-mail:nblcemlbd@gmail.com
STOCK EXCHANGES AVAILABLE AT CONTACT NUMBER
DHAKA STOCK EXCHANGE LTD.
9/F Motijheel C/A, Dhaka-1000. DSE Library
Tel: +88-02-9564601,9576210-18
Fax: +88-02-9564727 9569755
Email: dse@bol-online.com
CHITTAGONG STOCK EXCHANGE LTD.
CSE Building, 1080, Sheikh Mujib Road,
Chittagong-4100.
CSE Library
Tel: +88(0) 31-714632-3; 720871
Fax: +88(0) 31-714101
E-mail: info@cse.com.bd
Prospectus would also be available on the web site of BSEC (www.sec.gov.bd), DSE (www.dsebd.org), CSE
(www.csebd.com), Olympic Accessories Limited (www.olympicaccessoriesbd.com), PLFS Investments Limited
(www.plfsil.com) and CAPM Advisory Limited (www.capmadvisorybd.com) and Public Reference Room of the
Bangladesh Securities and Exchange Commission (BSEC) for reading and studying.
AUDITOR’S INFORMATION
Name Address Contact No.
AHMED ZAKER & CO.
Chartered Accountants
Shaiham Sky View Tower
(2ndFloor), 45 Bijoy Nagar,
Dhaka-1000.
Tel: +88-02-8391440-3
Fax: +88-02-8391011
Email: azcbangladesh@gmail.com
Olympic Accessories Limited
Page | III
TABLE OF CONTENTS
PARTICULARS
Page
No.
PART I
STATUTORY CONDITIONS, DISCLOSURES, DECLARATIONS AND DUE
DILIGENCE CERTIFICATES 1-13
A Disclosures in Respect of Issuance of Securities in Dematerialized Form 1
B Conditions under 2CC of the Securities and Exchange Ordinance, 1969 1-9
C Declarations and Due Diligence Certificates 10-13
PART II RISK FACTORS AND MANAGEMENT'S PERCEPTION ABOUT THE RISKS 14-17
(a) Interest Rate Risks 14
(b) Exchange Rate Risks 14
(c) Industry Risks 14-15
(d) Market Risk 15
(e) Technology Related Risks 15
(f) Potential or existing government regulations 15-16
(g) Potential changes in global or national policies 16
(h) History of non-operation, if any 16
(i) Operational Risks 16
(j) Other Risk Factors 16-17
PART III CAPITAL STRUCTURE AND USE OF PROCEEDS 18-20
(a) Capital structure 18
(b) Use of proceeds and Implementation Schedule 18-20
PART IV DESCRIPTION OF BUSINESS 20-23
(a) Information of the Company 20
(b) Business operation 20-23
(1) Principal products or services and the markets for such products or
services
20
(2) Product or service contributing more than 10% of the Company’s total
revenues
21
(3) Name of Associates, Subsidiary/Related Holding Company and their
core areas of business
21
(4) Distribution of the products or services 21
(5) Competitive conditions in the business 22
(6) Sources and availability of raw materials and the names of the
principal suppliers
22
(7) Sources of, and requirement for, power, gas and water; or any other utilities 22
(8) Names of customers who purchase 10% or more of the Company’s products/services 22
(9) Description of any contract with its principal suppliers and customers 22
(10) Description of any material patents, trademarks, licenses or royalty agreements 23
(11) Number of total employees and number of total full-time employees 23
(12) Production or services rendering capacity and current utilization 23
PART V DESCRIPTION OF PROPERTY 24-25
1 Details of the property of the company 24-25
2 Declaration regarding machineries being brand new 25
3 Factory visit report from Issue Managers 26
PART VI PLAN OF OPERATION AND DISCUSSION OF FINANCIAL CONDITION 27-31
1 Internal and external sources of cash 27
2
Material commitments for capital expenditure and expected sources of
such funds for such commitments
27
3
Causes for any material changes from period to period in income, cost of
goods sold, other operating expenses and net income 27-28
Olympic Accessories Limited
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4 Seasonal aspects of the company’s business 28
5 Known trends, events and uncertainties that shall have a material effect
on the company’s future business
28
6 Change in assets of the company used to pay off any liabilities 28
7
Details of loan taken from or given to its holding/parent company or
subsidiary company 28
8
Details of future contractual liabilities and their impact on company’s
financial fundamentals 28
9 Estimated future capital expenditure 28
10
VAT, Income Tax, Customs Duty or other tax liability, if any, including
contingent liability and reasons for their non-payment prior to the
issuance of this prospectus
28
11
Details of operating lease created during last five years and company’s
plan to liquidate such lease
29
12
Details of any financial commitment, including lease commitment during
past five years and way of their liquidation
29
13 Details of personnel related scheme 29
14 Break down of IPO issue expenses 30
15 Details about revaluation of company’s assets 31
16
Details of transactions with holding/subsidiary company or associate
company during last five years 31
17 Auditors’ certificate regarding any allotment of shares to directors, promoters
or sponsor shareholders for any consideration otherwise than for cash 31
18 Declaration Regarding Non-Suppression of Material Information 31
PART VII DIRECTORS AND OFFICERS 32-35
1
Name, age, qualification and experience of each director and nominated
director
32
2 Tenure of directorship of the directors 32
3 Involvement of directors in other organization 32
4 Family relationship among director and top five officers of the company 33
5 Short bio-data of each director 33-34
6
CIB report regarding loan status of all directors and shareholders who
hold 5% or more shares in the company’s paid up capital
34
7
Name, position, academic qualification, date of joining and experience of
CEO, CFO, CS, Advisors, Consultants, Additional and Deputy MD and all
departmental Heads
35
PART VIII INVOLVEMENT OF DIRECTORS AND OFFICERS IN CERTAIN LEGAL
PROCEEDINGS 35
PART IX CERTAIN RELATIONSHIP AND RELATED TRANSACTIONS 35-36
PART X EXECUTIVE COMPENSATION 36-37
(a)
Name, designation and remuneration paid to top five salaried officers in
the last accounting year
36
(b)
Aggregate amount of remuneration paid to all directors and officers
during the last accounting year
37
(c)
Remuneration paid to any director who was not an officer during the last
accounting year
37
(d) Contract with any director or officer regarding any future compensation 37
(e)
Information regarding intention to substantially increase remuneration
paid to directors and officers.
37
PART XI OPTIONS GRANTED TO DIRECTORS, OFFICERS AND EMPLOYEES 37
Olympic Accessories Limited
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PART XII TRANSACTIONS WITH THE DIRECTORS AND SUBSCRIBERS TO THE
MEMORANDUM
37
(a) Benefits From the Company during last five years 37
(b) Directors and Subscribers’ Assets to the Company 37
PART XIII TANGIBLE ASSETS PER SHARE 38
PART XIV OWNERSHIP OF THE COMPANY'S SECURITIES 39-41
(1) Ownership of the Companies Securities 39-40
(2) Securities owned by each director 41
(3)
List of sponsors/Directors and/or Shareholders who hold 5% or more
shares of the Company 41
(4) Securities owned by the Officers of the Company 41
(5) Post IPO Shareholding by the Sponsors/Directors 41
PART XV DETERMINATION OF OFFERING PRICE: UNDER FIXED PRICE METHOD 42-43
PART XVI MARKET FOR THE SECURITIES BEING OFFERED 43
PART XVII
DESCRIPTION OF SECURITIES OUTSTANDING OR BEING OFFERED 43-44
(1) Dividend, voting, pre-emption rights 43
(2) Conversion and liquidation rights 44
(3) Right for transfer 44
(4) Dividend policy 44
(5) Other rights of stockholders 44
PART XVIII DEBT SECURITIES 44
PART XIX INDEPENDENT AUDITORS' REPORT AND RELATED CERTIFICATES 45-77
(a) Auditors’ report for the year ended 30th June, 2014 45-64
(b) Auditors’ additional disclosure 65-73
(c)
Auditors’ report under section 135(1), Para 24(1) of part II of the Third
Schedule of Companies Act, 1994 74-75
(d) Auditors’ Certificate regarding statement of Ratio Analysis 76-77
PART XX LOCK IN PROVISION 78-79
PART XXI REFUND OF SUBSCRIPTION MONEY 79-80
PART XXII AVAILABILITY OF SECURITIES 80-81
PART XXIII ISSUE MANAGERS & UNDERWRITERS 81-82
PART XXIV APPLICATION FOR SUBSCRIPTION 82-84
PART XXV BANKERS TO THE ISSUE 85
PART XXVI MATERIAL CONTRACTS & OTHERS 86
PART XXVII CORPORATE DIRECTORY 87
PART XXVIII
INFORMATION INCLUDED AS PER BSEC’S NOTIFICATION
NO.SEC/CMRRCD/2008/115/ADMIN/30 DATED OCTOBER 05, 2011
88
PART XXIX APPLICATION FORMS & NEW IPO APPLICATION PROCESS 89-103
Application Forms 89-96
New IPO Application Process 97-103
PART XXX MANAGEMENT DISCLOSURES 104-105
Olympic Accessories Limited
Page | VI
ACRONYMS
A
G
AGM
Annual General Meeting
GBP
Great Britain Pound
Allotment Allotment of shares GOB Government of Bangladesh
B
I
BAS
Bangladesh Accounting Standards IPO
Initial Public Offering
BDT
Bangladeshi Taka
Issue
Managers
PLFS Investment Limited & CAPM
Advisory Limited
BO A/C Beneficiary Owner's Account Issuer Olympic Accessories Limited
BOI
Board of Investment
L
BOQ
Bill of Quantity
L/C
Letter of Credit
BTMA
Bangladesh Textile Mills Association N
BB
Bangladesh Bank
NAV
Net Asset Value
BSEC
Bangladesh Securities and
Exchange Commission NBR National Board of Revenue
C
NRB
Non Resident Bangladeshi
CDBL
Central Depository Bangladesh
Limited O
CFO
Chief Financial Officer
Offering Price Price of the Securities of OAL
CIB
Credit Information Bureau
OAL
Olympic Accessories Limited
CSE
Chittagong Stock Exchange Limited P
Certificate
Share Certificate
PE
Price to Earnings
CAPMAL
CAPM Advisory Limited
PLFSIL
PLFS Investment Limited
D
R
DSE
Dhaka Stock Exchange Limited
RJSC
Registrar of Joint Stock
Companies and Firms
E
RMG
Ready Made Garments
EPB
Export Promotion Bureau
S
EU European Union Sponsors The sponsor shareholders of OAL
Exchanges
Stock Exchanges
STD A/C
Short Term Deposit Account
EPS
Earnings Per Share
U
F
USD
United States Dollar
FC A/C
Foreign Currency Account
V
FDR
Fixed Deposit Receipt
VAT
Value Added Tax
FOB
Free on Board
W
FY Fiscal Year WPPF Workers Profit Participation Fund
Olympic Accessories Limited
Page | VII
GENERAL INFORMATION
PLFS Investments Limited (PLFSIL) & CAPM Advisory Limited (CAPMAL) (The Managers to the Issue)
have prepared this Prospectus based on the information provided by Olympic Accessories Limited
(OAL) (The Issuer) and also upon several discussions with the Chairman, Managing Director and related
executives of the Company. The Directors including Managing Director of the Issuer and that of the Issue
Managers collectively and individually, having made all reasonable inquiries, confirm that to the best of
their knowledge and belief, the information contained herein is true and correct in all material respect
and that there are no other material facts, the omission of which, would make any statement herein
misleading.
The form and content of the prospectus was developed under the guidelines of the Securities and
Exchange Commission (Public Issue) Rules, 2006.
No person is authorized to give any information or to make any representation not contained in this
Prospectus and if given or made, any such information or representation must not be relied upon as
having been authorized by the Company or Issue Managers.
The Issue as contemplated in this document is made in Bangladesh and is subject to the exclusive
jurisdiction of the courts of Bangladesh. Forwarding this Prospectus to any person resident outside
Bangladesh in no way implies that the Issue is made in accordance with the laws of that country or is
subject to the jurisdiction of the laws of that country.
This Prospectus should be read in conjunction with the Audited Financial Statements including Notes for
the year ended June 30, 2014.
The proposed issue of capital of Olympic Accessories Limited would only be executed upon obtaining
necessary regulatory approvals.
A copy of this Prospectus may be obtained from the Head Office of Olympic Accessories Limited (The
Issuer), PLFS Investments Limited & CAPM Advisory Limited (The Managers to the Issue), the
underwriters and the Stock Exchanges where the securities will be traded.
Olympic Accessories Limited
Page | 1
PART I: STATUTORY CONDITIONS, DISCLOSURES, DECLARATIONS AND DUE DILIGANCE CERTIFICATES
A. DISCLOSURES IN RESPECT OF ISSUANCE OF SECURITIES IN DEMATERIALIZED FORM
“As per provision of the Depository Act, 1999 and regulation made there-under, shares of the company
will be issued in dematerialized form only and for this purpose Olympic Accessories Limited has signed an
agreement with the Central Depository Bangladesh Limited (CDBL). Therefore, all
transfer/transmission/splitting will take place in the CDBL system and any further issuance of shares
(rights/bonus) will be issued in dematerialized form only.
B. CONDITIONS UNDER 2CC OF THE SECURITIES AND EXCHANGE ORDINANCE, 1969
PART–A
1. The company shall go for Initial Public Offer (IPO) for 20,000,000 Ordinary Shares of Tk. 10.00 each at
par totaling to Tk. 200,000,000.00/- (Taka twenty crore only) following the Bangladesh Securities and
Exchange Commission (Public Issue) Rules, 2006, the Depository Act, 1999 and regulations made
there under.
2. The abridged version of the prospectus, as approved by the Commission, shall be published by the
issuer in 4 (Four) national daily newspapers (two in Bangla and two in English), within 05 (Five)
working days of issuance of the consent letter. The issuer shall post the full prospectus, vetted by
the Bangladesh Securities and Exchange Commission, in the issuer’s website and shall also put on the
websites of the Commission, stock exchanges, and the issue managers, within 5 (Five) working days
from the date of issuance of this letter and shall remain posted till the closure of the subscription list.
The issuer shall submit to BSEC, the stock exchanges and the issue managers a diskette containing
the text of the vetted prospectus in “MS -Word” format.
3. Sufficient copies of prospectus shall be made available by the issuer so that any person requesting a
copy may receive one. A notice shall be placed on the front of the application form distributed in
connection with the offering, informing that interested persons are entitled to a prospectus, if they so
desire, and that copies of prospectus may be obtained from the issuer and the issue manager. The
subscription application shall indicate in bold type that no sale of securities shall be made, nor shall
any money be taken from any person, in connection with such sale until 25 (Twenty five) days after
the prospectus has been published.
4. The company shall submit 40 (Forty) copies of the printed prospectus to the Bangladesh Securities
and Exchange Commission for official record within 5 (Five) working days from the date of
publication of the abridged version of the prospectus in the newspaper.
5. The issuer company and the issue manager shall ensure transmission of the prospectus, abridged
version of the prospectus and relevant application forms for NRBs through email, simultaneously with
publication of the abridged version of the prospectus, to the Bangladesh Embassies and Missions
abroad and shall also ensure sending of the printed copies of abridged version of the prospectus and
application forms to the said Embassies and Missions within 05 (Five) working days of the
publication date by Express Mail Service (EMS) of the postal department. A compliance report shall
be submitted in this respect to the BSEC jointly by the issuer and the Issue Managers within 02 (Two)
working days from the date of said dispatch of the prospectus and the forms.
6. The paper clipping of the published abridged version of the prospectus, as mentioned at condition
no. 2 above, shall be submitted to the Commission within 24 hours of the publication thereof.
7. The company shall maintain separate bank account(s) for collecting proceeds of the Initial Public
Offering and shall also open Foreign Currency (FC) account(s) to deposit the application money of the
Non Resident Bangladeshis (NRBs) for IPO purpose, and shall incorporate full particulars of said FC
Olympic Accessories Limited
Page | 2
account(s) in the prospectus. The company shall open the above-mentioned accounts for IPO
purpose; and close these accounts after refund of over-subscription money. Non-Resident
Bangladeshi (NRB) means Bangladeshi citizens staying abroad including all those who have dual
citizenship (provided they have a valid Bangladeshi passport) or those, whose foreign passport bear a
stamp from the concerned Bangladesh Embassy to the effect that no visa is required for traveling to
Bangladesh.
8. The issuer company shall apply to all the stock exchanges in Bangladesh for listing within 7 (Seven)
working days from the date of issuance of this letter and shall simultaneously submit the vetted
prospectus with all exhibits, as submitted to BSEC, to the stock exchanges.
9. The following declaration shall be made by the company in the prospectus, namely: -
“Declaration about Listing of Shares with the stock exchange (s):
None of the stock exchange(s), if for any reason, grants listing within 75 (Seventy Five) days from
the closure of subscription, any allotment in terms of this prospectus shall be void and the company
shall refund the subscription money within 15 (Fifteen) days from the date of refusal for listing by
the stock exchanges, or from the date of expiry of the said 75 (Seventy Five) days, as the case may
be.
In case of non-refund of the subscription money within the aforesaid 15 (Fifteen) days, the Directors
of the company, in addition to the issuer company, shall be collectively and severally liable for refund
of the subscription money, with interest at the rate of 2% (Two Percent) per month above the bank
rate, to the subscribers concerned.
The issue manager, in addition to the issuer company, shall ensure due compliance of the above
mentioned conditions and shall submit compliance report thereon to the Commission within 07
(Seven) days of expiry of the aforesaid 15 (Fifteen) days time period allowed for refund of the
subscription money.”
10. The subscription list shall be opened and the sale of securities commenced after 25 (Twenty Five)
days of the publication of the abridged version of the prospectus and shall remain open for 5 (Five)
consecutive banking days.
11. A non-resident Bangladeshi shall apply either directly by enclosing a foreign demand draft drawn on
a bank payable at Dhaka, or through a nominee by paying out of foreign currency deposit account
maintained in Bangladesh or in Taka, supported by foreign currency encashment certificate issued by
the concerned bank, for the value of securities applied for through crossed bank cheque marking
“Account Payee only”. The NRB applicants shall send applications to the issuer company within the
closing date of the subscription so as to reach the same to the company by the closing date plus 09
(Nine) days. Applications received by the company after the above time period will not be
considered for allotment purpose.
12. The company shall apply the spot buying rate (TT clean) in US Dollar, UK Pound Sterling and Euro of
Sonali Bank Ltd, which shall be mentioned in the Prospectus, as prevailed on the date of opening of
the subscription for the purpose of application of the NRBs and other non-Bangladeshi persons,
where applicable.
13. The company and the issue manager shall ensure prompt collection/clearance of the foreign
remittances of NRBs and other non-Bangladeshi(s), if applicable, for allotment of shares.
Olympic Accessories Limited
Page | 3
14. Upon completion of the period of subscription for securities, the issuer and the issue manager shall
jointly provide the Commission and the stock exchanges with the preliminary status of the
subscription within 5 (Five) working days, in respect of the following matters, namely: -
a. Total number of securities for which subscription has been received;
b. Amount received from the subscription; and
c. Amount of commission paid to the bankers to the issue.
15. The issuer and the issue manager shall jointly provide the Commission and the stock exchanges with
the list of valid and invalid applicants (i.e. final status of subscription) in electronic form in 02 (Two)
CDs and final status of subscription to the Commission within 03 (Three) weeks after the closure of
the subscription along with bank statement (original), branch-wise subscription statement. The list of
valid and invalid applicants shall be finalized after examination with the CDBL in respect of BO
accounts and particulars thereof.
16. The IPO shall stand cancelled and the application money shall be refunded immediately (but not later
than 05 (Five) weeks from the date of the subscription closure), if any of the following events occur:
(a) Upon closing of the subscription list it is found that the total number of valid applications (in case
of under subscription including the number of the underwriter) is less than the minimum
requirement as specified in the listing regulations of the stock exchange(s) concerned; or
(b) At least 50% of the IPO is not subscribed.
17. 20% of total public offering shall be reserved for ¶wZMÖ¯’ ¶z`ª wewb‡qvMKvix, 10% of total public
offering shall be reserved for non-resident Bangladeshi (NRB) and 10% for mutual funds and
collective investment schemes registered with the Commission, and the remaining 60% shall be
open for subscription by the general public. In case of under-subscription under any of the
20% and 10% categories mentioned above, the unsubscribed portion shall be added to the
general public category and, if after such addition, there is over subscription in the general
public category, the issuer and the manager to the issue shall jointly conduct an open lottery
of all the applicants added together.
18. All the applicants shall first be treated as applied for one minimum market lot of 500 shares worth
Taka 5,000/- (Taka five thousand only). If, on this basis, there is over subscription, then lottery shall
be held amongst the applicants allocating one identification number for each application, irrespective
of the application money. In case of over-subscription under any of the categories mentioned
hereinabove, the issuer and the issue manager shall jointly conduct an open lottery of all the
applications received under each category separately in presence of representatives from the issuer,
the stock exchanges and the applicants, if there be any.
19. An applicant cannot submit more than two applications, one in his/her own name and the
other jointly with another person. In case, an applicant submits more than two applications, all
applications will be treated as invalid and will not be considered for allotment purpose. In
addition, 15% (fifteen) of the application money will be forfeited by the Commission and the
balance amount will be refunded to the applicant.
20. The applicant shall provide with the same bank account number in the application form as it is in the
BO account of the application.
21. The applicants who have applied for more than two applications using same bank account,
their application will not be considered for lottery and the Commission will forfeit 15% of their
subscription money too.
Olympic Accessories Limited
Page | 4
22. Making of any false statement in the application or supplying of incorrect information therein
or suppressing any relevant information in the application shall make the application liable to
rejection and subject to forfeiture of 25% of the application money and/or forfeiture of share
(unit) before or after issuance of the same by the issuer. The said forfeited application money
or share (unit) will be deposited in account of the Bangladesh Securities and Exchange
Commission (BSEC). This is in addition to any other penalties as may be provided for by the
law.
23. Lottery (if applicable) shall be held within 4 (Four) weeks from closure of the subscription date.
24. The company shall issue share allotment letters to all successful applicants within 05 (Five) weeks
from the date of the subscription closing. Within the same time, refund to the unsuccessful applicants
shall be made in the currency in which the value of securities was paid for by the applicants without
any interest, through direct deposit to the applicant’s bank account as far as possible/ Account Payee
Cheque/ refund warrants with bank account number, bank’s name and branch as indicated in the
securities application forms payable at Dhaka/ Chittagong/ Khulna/ Rajshahi/ Barisal/ Sylhet/ Bogra,
as the case may be subject to condition No. 19 and 21 above.
Refund money of the unsuccessful applicants shall be credited directly to their respective bank
accounts, who have chosen the option in the IPO application forms, as maintained with the bankers to
the issue or any other banks mentioned in the application.
A compliance report in this regard shall be submitted to the Commission within 07 (Seven) weeks
from the date of closure of subscription.
25. The company shall furnish the List of Allotees to the Commission and the stock exchange(s)
simultaneously in which the shares will be listed, within 24 (Twenty Four) hours of allotment.
26. In the event of under-subscription of the public offering, the unsubscribed portion of securities shall
be taken up by the underwriter(s) (subject to Para -16 above). The issuer must notify the underwriters
to take up the underwritten shares within 10 (Ten) days of the closing of subscription on full
payment of the share money within 15 (Fifteen) days of the issuer’s notice. The underwriter shall not
share any underwriting fee with the issue manager, other underwriters, issuer or the sponsor group.
27. All issued shares of the issuer at the time of according this consent shall be subject to a lock-in
period of 03 (Three) years from the date of issuance of prospectus or commercial operation,
whichever comes later.
Provided that the persons (other than Directors and those who hold 5% or more shares in the
company), who have subscribed to the shares of the company within immediately preceding two
years of according consent shall be subject to a lock-in period of 01 (One) year from the date of
issuance of prospectus or commercial operation, whichever comes later.
28. If any existing sponsor or director of any company transfers any share to any person, other than
existing shareholders, within preceding 12 (twelve) months of submitting any application for raising
of capital or initial public offering (IPO), all shares held by those transferee shareholders shall be
subject to a lock-in period of 3 (three) years from the date of issuance of prospectus for IPO.
29. In respect of shares of Sponsors/Directors/Promoters (if in paper format) shall be handed over
to security custodian bank registered with BSEC and shall remain till completion of lock in and
the name and branch of the bank shall be furnished to the Commission jointly by the issuer
and Issue Manager, along with a confirmation thereof from the custodian bank, within one
week of listing of the shares with the stock exchange(s). Or they (shares of Sponsors/
Directors/ Promoters) can be demated and will remain in lock-in under CDBL system and issuer
will submit a dematerialization confirmation report generated by CDBL and attested by
Managing Director of the company along with lock-in confirmation with BSEC within one week
Olympic Accessories Limited
Page | 5
of listing of the shares with the stock exchange(s). In respect of shares other than
Sponsors/Directors/Promoters the issuer will ensure their lock-in of those shares and submit a
statement to this effect to BSEC.
30. The company shall apply to the stock exchanges for listing within 07 (Seven) working days of
issuance of this letter and shall simultaneously submit to the Commission attested copies of the
application filed with the stock exchanges.
31. The Company shall not declare any benefit/dividend other than cash based on the financial
statements for the period ended on 30 June 2014 before listing of its capital with stock
exchange(s).
32. Updated Corporate Governance Guideline of the Commission has to comply with and a compliance
report thereof shall be submitted to the Commission before 7 (seven) days of opening of
subscription.
33. Registration of the land against which Tk. 8.85 crore has been provided shall be completed in the
stipulated time and documents thereof shall be submitted to the Commission before 15 (fifteen)
working days of opening of subscription.
PART–B
1. In addition to the existing IPO application process, applicants can also apply through their
Stockbroker/Merchant Bankers in the following process:
Step-1 (Applicant)
a. An applicant for public issue of securities shall submit application/instruction, within the
subscription period to the Stockbroker/ Merchant Banker where the applicant maintains
customer account.
b. The application/instruction may be submitted in prescribed paper or electronic form, which shall
contain the Customer ID, Name, BO Account Number, Number of Securities applied for, Total
Amount and Category of the Applicant. At the same time:
i. Other than non-resident Bangladeshi (NRB) and Foreign applicants shall make the
application money and service charge available in respective customer account
maintained with the Stockbroker/Merchant Banker. No margin facility, advance or
deferred payment is permissible for this purpose. In case the application is made through
a margin account, the application money shall be deposited separately and the
Stockbroker/Merchant Banker shall keep the amount segregated from the margin
account, which shall be refundable to the applicant, if become unsuccessful.
ii. Non-resident Bangladeshi (NRB) and Foreign applicants shall submit bank draft(s) issued
in favor of the issuer for an amount equivalent to the application money with their
application to the concerned Stockbroker/Merchant Banker. The draft(s) shall be issued
by the Bank where the applicant maintains NITA/Foreign Currency account debiting the
same account. No banker shall issue more than two drafts from any NITA/Foreign
Currency account for any public issue. At the same time, the applicants shall make the
service charge available in respective customer account maintained with the
Stockbroker/Merchant Banker.
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Step-2 (Intermediary)
a. The Stockbroker/Merchant Banker shall maintain a separate bank account only for this purpose
namely “Public Issue Application Account”. The Stockbroker/Merchant Banker shall post the
amount separately in the customer account (other than NRB and Foreign applicants), and upon
availability of fund block the amount equivalent to the application money, accumulate all the
application/instructions received up to the subscription closing date, deposit the amount in the
“Public Issue Application Account” maintained with its bank within the first banking hour of next
working day of the subscription closing date, instruct the banker to block the account for an
amount equivalent to the aggregate application money and to issue a certificate in this regard. In
case of application submitted by the Stock-dealer or the Merchant Banker’s own portfolio, the
application amount should also be transferred to the “Public Issue Application Account”. Banker
of the Stockbroker/Merchant Banker shall block the account as requested for, issue a certificate
confirming the same and handover it to the respective Stockbroker/Merchant Banker.
b. For Non-resident Bangladeshi (NRB) and Foreign applicants, the Stockbroker/Merchant Banker
shall hold the bank drafts submitted by the applicants in their custody with a list containing the
bank draft information against the respective applicant’s particulars.
c. The Stockbroker/Merchant Banker shall prepare category wise lists of the applicants containing
Customer ID, Name, BO Account Number and Number of Securities applied for, and within 03
(three) working days from the subscription closing date, send it to the respective Stock
Exchange in electronic (text format with tilde ‘~’ separator) format and the certificate(s) issued by
its banker.
d. On the next working day, the stock exchanges shall provide the issuer with the information
received from the Stockbroker/Merchant Bankers. Stock Exchanges shall verify and preserve the
bankers’ certificates in their custody.
Step-3 (Issuer)
a. The issuer shall prepare consolidated list of the applications and send the applicants’ BOIDs in
electronic (text) format in a CDROM to CDBL for verification. CDBL shall verify the BOIDs as to
whether the BO accounts of the applicants are active or not. Along with the verification report,
CDBL shall provide the issuer with an updated database of the applicants containing BO Account
Number, Name, Addresses, Parents’ Name, Joint Account and Bank Account Information along
with the verification report. After receiving verification report and information from CDBL, the
issuer shall scrutinize the applications, prepare category wise consolidated lists of valid and
invalid applications and submit status report of subscription to the Commission and the stock
exchanges. The issuer and the issue manager shall conduct category wise lottery with the valid
applications in line with the conditions of the Commission’s consent letter.
b. Within 02 (two) working days of conducting lottery, the issuer shall:
i. Send category wise lists of the successful and unsuccessful applicants in electronic (text
format with tilde ‘~’ separator) format to the respective Stock Exchange.
ii. Issue allotment letters in the names of successful applicants in electronic format with
digital signatures and send those to respective Stock Exchange in electronic form. The
issuer shall send consolidated allotment data (BOID and number of securities) in
electronic text format in a CDROM to CDBL to credit the allotted shares to the respective
BO accounts.
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Page | 7
Step-4 (Intermediary)
a. On the next working day, Stock exchanges shall distribute the information and allotment letters
to the Stockbroker/Merchant Bankers concerned in electronic format with instruction to remit the
amount of successful (other than NRB and Foreign) applicants to the issuers respective Escrow
Account opened for subscription purpose and unblock the amount of unsuccessful applicants,
and also to send the drafts submitted by successful NRB and Foreign applicants to the Stock
Exchange and return the drafts submitted by unsuccessful applicants.
b. On the next working day of receiving the documents from the Stock Exchanges, the
Stockbrokers/Merchant Bankers shall request its banker to release the amount blocked for
unsuccessful (other than NRB and foreign) applicants and remit the aggregate amount of
successful applicants to the ‘Escrow’ account of the issuer opened for the subscription purpose.
On the same day, the Stockbroker/Merchant Bankers shall send the drafts submitted by
successful NRB and Foreign applicants to the Stock Exchange concerned and return the drafts
submitted by unsuccessful NRB and Foreign applicants.
c. On the next working day of receiving request from the Stockbrokers/Merchant Bankers, their
bankers shall unblock the amount blocked in the account(s) and remit the amount as requested
for to the issuer’s ‘Escrow’ account. Simultaneously, the stockbrokers/Merchant Bankers shall
release the application money in the customer accounts; inform the successful applicants about
allotment of securities and the unsuccessful applicants about releasing their blocked amounts.
The unblocked amounts of unsuccessful applicants shall be placed as per their instructions. The
Stockbroker/Merchant Banker can recover the withdrawal charges, if any, from the applicants up
to an amount of Tk.5.00 (five) per withdrawal. On the same day, Stock Exchanges shall send the
drafts submitted by successful NRB and Foreign applicants to the Issuer.
d. In case any draft submitted by any successful NRB or Foreign applicant contains an amount
excess to the value of securities to be allotted to the applicant, the issuer shall refund the excess
amount to the applicant through bank drafts issued in the same currency within 7 (seven)
working days of receiving the drafts from Stock Exchange.
Miscellaneous:
a. The issuer and Issue Manager(s) shall jointly ensure compliance of the above.
b. Amount deposited and blocked in the “Public Issue Application Account” shall not be withdrawn
or transferred during the blocking period. Amount deposited by the applicants shall not be used
by the Stockbrokers/Merchant Bankers for any purpose other than public issue application.
c. The issuer shall pay the costs related to data transmission, if claimed by the Stock Exchange
concerned.
d. The Stockbroker/Merchant Bankers shall be entitled to a service charge of Tk.5.00 (taka five) only
per application irrespective of the amount or category. The service charge shall be paid by the
applicant at the time of submitting application.
e. The Stockbroker/Merchant Banker shall provide the issuer with a statement of the remittance and
drafts sent.
2. The above application process is a pilot project and optional for investors, i.e. investors can apply
either following new process through stockbroker/merchant banker or in existing process
through banker to the issue.
Olympic Accessories Limited
Page | 8
3. List of the Stockbroker/Merchant Bankers participating in the pilot project shall be disclosed in
the prospectus and abridged version thereof. Only the applicants maintaining accounts with the
Stockbroker/Merchant Bankers name contained in the list can apply through the new process.
PART–C
1. The issuer and the issue manager shall ensure that the abridged version of the prospectus and the
full prospectus is published correctly and in strict conformity with the conditions of this letter without
any error/omission, as vetted by the Bangladesh Securities and Exchange Commission.
2. The issue manager shall carefully examine and compare the published abridged version of the
prospectus on the date of publication with the copy vetted by BSEC. If any discrepancy/ inconsistency
is found, both the issuer and the issue manager shall jointly publish a corrigendum immediately in
the same newspapers concerned, simultaneously endorsing copies thereof to BSEC and the stock
exchange(s) concerned, correcting the discrepancy/inconsistency as required under ‘Due Diligence
Certificates’ provided with BSEC.
3. Both the issuer company and the issue manager shall, immediately after publication of the
prospectus and its abridged version, jointly inform the Commission in writing that the published
prospectus and its abridged version are verbatim copies of the same as vetted by the Commission.
4. The fund collected through Public Offering shall not be utilized prior to listing with stock exchanges
and that utilization of the said fund shall be effected through banking channel, i.e. through account
payee cheque, pay order or bank drafts etc.
5. The company shall furnish status report on utilization of Public Offering proceeds audited by
foreign affiliated auditors and authenticated by the board of directors to the Commission and
the stock exchanges within 15 (Fifteen) days of the closing of each month until such fund is
fully utilized, as mentioned in the schedule contained in the prospectus, and in the event of
any irregularity or inconsistency, the Commission may employ or engage any person, at
issuer’s cost, to examine whether the issuer has utilized the proceeds for the purpose disclosed
in the prospectus.
6. While auditing the utilization of IPO proceeds, the auditors will perform their jobs under the
following terms of reference (TOR) and confirm the same in their report/certificate:
(a) Whether IPO proceeds have been utilized for the purposes/heads as specified in the
prospectus;
(b) Whether IPO proceeds have been utilized in line with the condition (if any) of the
Commission’s consent letter;
(c) Whether utilization of IPO proceeds have been completed within the time
schedule/implementation schedule as specified in the published prospectus;
(d) Whether utilization of IPO proceeds is accurate and for the purpose of the company as
mentioned/specified in the published prospectus; and
(e) The auditors should also confirm that: (i) assets have been
procured/imported/constructed maintaining proper/required procedure as well as at
reasonable price; and (ii) auditors’ report has been made on verification of all necessary
documents/papers/vouchers in support of IPO proceeds making reconciliation with
Bank Statement.
7. All transactions, excluding petty cash expenses, shall be effected through the company’s bank
account(s).
Olympic Accessories Limited
Page | 9
8. Proceeds of the Public Offering shall not be used for any purpose other than those specified in the
prospectus. Any deviation in this respect must have prior approval of the shareholders in the
shareholders Meeting under intimation to BSEC and stock exchanges.
9. Directors on the Company’s Board will be in accordance with applicable laws, rules and regulations.
10. The financial statements should be prepared in accordance with Bangladesh Accounting Standards
(BAS) and Bangladesh Financial Reporting Standards (BFRS) as required by the Securities and
Exchange Rules, 1987.
11. If any quarter or half-year of the financial year ends after publication of the abridged version of
prospectus and before listing of its securities with any exchange, the company shall
disseminate/transmit/submit the said quarterly/half yearly financial statements in accordance with the
Commission’s Notification SEC/CMRRCD/2008-183/admin/03-34 dated September 27, 2009 and the
section 13 of the Securities and Exchange Rules, 1987.
12. In the event of arising issues concerning Price Sensitive Information as defined under the wmwKDwiwUR I
G·‡PÄ Kwgkb (myweav‡fvMx e¨emv wbwl×KiY) wewagvjv 1995 after publication of the abridged version of
prospectus and before listing of its securities with any exchange, the company shall
disseminate/transmit/submit the information as price sensitive in accordance with the Commission’s
Notification No. SEC/SRMI/200-953/1950 dated October 24, 2000.
13. No issuer of a listed security shall utilize more than 1/3rd (one-third) of the fund raised through IPO
for the purpose of loan repayment
PART-D
1. All the above conditions imposed under section 2CC of the Securities and Exchange Ordinance, 1969
shall be incorporated in the prospectus immediately after the page of the table of contents, with a
reference in the table of contents, prior to its publication.
2. The Commission may impose further conditions/restrictions etc. from time to time as and when
considered necessary which shall also be binding upon the issuer company.
PART-E
1. As per provision of the Depository Act, 1999 & regulations made there under, shares will only be
issued in dematerialized condition. All transfer/transmission/splitting will take place in the Central
Depository Bangladesh Ltd. (CDBL) system and any further issuance of shares (Including
rights/bonus) will be made in dematerialized form only.
An applicant (including NRB) shall not be able to apply for allotment of shares without Beneficial
Owners (BO) account.
2. The company and the issue manager shall ensure due compliance of all the above conditions and the
Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2006.
Olympic Accessories Limited
Page | 10
C. DECLARATIONS AND DUE DILIGENCE CERTIFICATES
DECLARATION ABOUT THE RESPONSIBILITY OF THE DIRECTORS, INCLUDING THE MANAGING
DIRECTOR OF THE ISSUER, “OLYMPIC ACCESSORIES LIMITED”, IN RESPECT OF THE PROSPECTUS
This prospectus has been prepared, seen and approved by us, and we, individually and collectively, accept
full responsibility for the authenticity and accuracy of the statements made, information given in the
prospectus, documents, financial statements, exhibits, annexes, papers submitted to the Commission in
support thereof, and confirm, after making all reasonable inquires that all conditions concerning this
public issue and prospectus have been met and that there are no other information or documents the
omission of which make any information or statements therein misleading for which the Commission may
take any civil, criminal or administrative action against any or all of us as it may deem fit.
We also confirm that full and fair disclosure has been made in this prospectus to enable the investors to
make a well informed decision for investment.
Sd/-
Mrs. Farida Akhter
Chairman
Sd/-
Md. Golam Kibria
Director & Managing Director
Sd/-
Md. Golam Moula Majumder
Director
(Nominee Director of Bay Poly & Packaging Ltd.)
Sd/-
Md. Golam Sorowar
Director
(Nominee Director of Navana Poly Packaging Ltd.)
Sd/-
Rifat Bin Kibria
Director
(Nominee Director of Riverside Apparels Ltd.)
CONSENT OF THE DIRECTOR(S) TO SERVE AS DIRECTOR(S)
We hereby agree that we have been serving as Director(s) of “Olympic Accessories Limited” and confirm
to continue to act as Director(s) of the Company.
Sd/-
Mrs. Farida Akhter
Chairman
Sd/-
Md. Golam Kibria
Director & Managing Director
Sd/-
Md.Golam Moula Majumder
Director
(Nominee Director of Bay Poly & Packaging Ltd.)
Sd/-
Md. Golam Sorowar
Director
(Nominee Director of Navana Poly Packaging Ltd.)
Sd/-
Rifat Bin Kibria
Director
(Nominee Director of Riverside Apparels Ltd.)
Olympic Accessories Limited
Page | 11
DECLARATION ABOUT FILING OF PROSPECTUS WITH THE REGISTRAR OF JOINT STOCK
COMPANIES AND FIRMS
A vetted and signed copy of this Prospectus has been filed for registration with the Registrar of Joint
Stock Companies and Firms (RJSC), Bangladesh as required under Section 138 (1) of the Companies Act,
1994 on or before the date of publication of this prospectus in the newspaper.
DECLARATION BY THE ISSUER ABOUT THE APPROVAL FROM BSEC FOR ANY MATERIAL CHANGES
In case of any material changes in any agreement, contract, instrument, facts and figures, operational
circumstances and statement made in the Prospectus subsequent to the preparation of the Prospectus
and prior to its publication shall be incorporated in the Prospectus and the said Prospectus should be
published with the approval of the Commission.
For Issuer
Sd/-
Md. Golam Kibria
Managing Director
DECLARATION BY THE ISSUE MANAGERS ABOUT THE APPROVAL FROM BSEC FOR ANY MATERIAL
CHANGES
In case of any material changes in any agreement, contract, instrument, facts and figures, operational
circumstances and statement made in the Prospectus subsequent to the preparation of the Prospectus
and prior to its publication shall be incorporated in the Prospectus and the said Prospectus should be
published with the approval of the Commission.
For Managers to the Issue
Sd/-
Nripendra Chandra Pandit
Chief Executive Officer, (C.C.)
PLFS Investments Limited
Sd/-
Mufakhkharul Islam
Managing Director & CEO
CAPM Advisory Limited
Olympic Accessories Limited
Page | 12
DUE DILIGENCE CERTIFICATE OF MANAGER(s) TO THE ISSUE
Sub: Public offer of 20,000,000 Ordinary Shares of BDT 10.00 each at par of Olympic Accessories
Limited.
We, the under-noted Manager(s) to the Issue to the above mentioned forthcoming Issue, state as follows:
1. We, while finalizing the draft Prospectus pertaining to the said Issue, have examined various
documents and other materials as relevant for adequate disclosures to the investors; and
2. On the basis of such examination and the discussions with the issuer Company, it’s directors and
officers, and other agencies, independent verification of the statements concerning objects of the
issue and the contents of the documents and other materials furnished by the issuer company.
WE CONFIRM THAT:
a) the draft Prospectus forwarded to the Commission is in conformity with the documents, materials and
papers relevant to the Issue;
b) all the legal requirements connected with the said Issue have been duly complied with; and
c) the disclosures made in the draft Prospectus are true, fair and adequate to enable the investors to
make a well informed decision for investment in the proposed issue.
For Manager(s) to the Issue
Sd/-
Nripendra Chandra Pandit
Chief Executive Officer, (C.C.)
PLFS Investments Limited
Sd/-
Mufakhkharul Islam
Managing Director & CEO
CAPM Advisory Limited
Olympic Accessories Limited
Page | 13
DUE DILIGENCE CERTIFICATE OF THE UNDERWRITER(S)
Sub: Public offer of 20,000,000 Ordinary Shares of Tk. 10.00 each at par of Olympic Accessories
Limited.
We, the under-noted Underwriter to the above-mentioned forthcoming Issue, state individually and
collectively as follows:
1. We, while underwriting the above mentioned issue on a firm commitment basis, have examined the
draft Prospectus, other documents and materials as relevant to our underwriting decision; and
2. On the basis of such examination, and the discussions with the issuer company, it’s directors and
officers, and other agencies, independent verification of the statements concerning objects of the
issue and the contents of the documents and other materials furnished by the issuer company;
WE CONFIRM THAT:
a) all information as are relevant to our underwriting decision have been received by us and that the
draft Prospectus forwarded to the Commission has been approved by us;
b) we shall subscribe and take up the un-subscribed securities against the above-mentioned public issue
within 15 (fifteen) days of calling up thereof by the issuer; and
c) this underwriting commitment is unequivocal and irrevocable.
For Underwriter(s)
Sd/-
Mahbub H. Mazumdar FCMA
Chief Executive
AFC Capital Limited
Sd/-
Mufakhkharul Islam
Managing Director & CEO
CAPM Advisory Limited
Sd/-
Nripendra Chandra Pandit
Chief Executive Officer, (C.C.)
PLFS Investments Limited
Sd/-
Md. Tariqul Islam
Chief Executive Officer (CC)
NBL Capital and Equity Management Ltd.
Olympic Accessories Limited
Page | 14
PART II: RISK FACTORS AND MANAGEMENT’S PERCEPTION ABOUT THE RISKS
An investment in equity involves a high degree of risk. Investors should carefully consider all the
information in this prospectus, including the risks and uncertainties described below, before making an
investment in our equity shares. Any of the following risks as well as other risks and uncertainties
discussed in this prospectus could have a material adverse effect on our business, financial condition and
results of operations. In addition, the risks set out in this prospectus may not be exhaustive and
additional risks and uncertainties, not presently known to us, or which we currently deem immaterial, may
arise or become material in the future. Unless otherwise stated in the relevant risk factors set forth below,
we are not in a position to specify or quantify the financial or other risks mentioned herein.
Materiality
The Risk factors have been determined on the basis of their materiality. The following factors have been
considered for determining the materiality:
1. Some events may not be material individually but may be found material collectively.
2. Some events may have material impact qualitatively instead of quantitatively.
3. Some events may not be material at present but may be having material impact in the future.
(a) Interest Rate Risks:
OAL is exposed to the volatility of interest rate as it has Short Term Bank Loan. Any higher trend in
interest rate in the future will definitely aggravate the adversity.
Management perception:
The management of OAL is always aware of interest rate, which is connected to the cost of fund of the
Company.
(b) Exchange Rate Risks:
OAL is engaged in global trade as it procures its raw materials from overseas markets. Therefore,
fluctuations in the related foreign currency rates may affect adversely to the Company’s liquidity and
profitability and expose a threat to the stability of the Company.
Management perception:
The risk of foreign exchange cannot be eliminated fully as we require importing raw materials. However
the management is always alert in minimizing the negative impact of currency fluctuation cost by
looking for new sources of raw materials or constantly negotiating with suppliers in reducing price.
Moreover, the company is fully aware of the risks related to currency fluctuation and as a prudent
Company it always takes steps to hedge all major currency dealings to safeguard the interest of the
Company. The risk can be mitigated to some extent through exporting a portion of its production which
will neutralize negative impact of currency fluctuation.
(c) Industry Risks:
i. Rising of Raw Materials costs:
The cost of yarn, thread, spun polyester, silicon oil, GPPS, HIPS, PP, LDPE, K Resin, Titanium, Master
batch, card, boardand other raw materials are rising drastically round the year. It may hamper the
profitability of the Company significantly.
Management perception:
OAL is aware of the continuing market situation of its raw materials. The management of OAL believes
that long term planning for raw material management, exploring number of global markets, job wise
costing for its finished products and trustworthy relations with the suppliers and mitigate the risk of
rising of materials cost.
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Page | 15
ii. Labor Unrest:
At present, textile and garments sector of Bangladesh is heavily affected by labor unrest. Any incident
of labor unrest would adversely affect the operation of the company. Since, OAL is operating in textile
and garments sectors, labor unrest may hamper OAL’s production directly. This may affect its
financial performance in the long run.
Management Perception:
OAL’s Compliance & Employee Relation Department is very much conscious, communicative and
capable enough to handle every situation related to regulatory compliance. OAL maintains good
atmosphere at the work place and provides all sort of facilities to the workers as per law of the land. So,
it is unlikely for them to create such unrest. Moreover, to meet unique situations, company has
alternative ways to overcome such critical circumstances.
(d) Market Risk:
i. Market demand:
The OAL is a deemed exporter. Any economic recession, changes in tastes and fashions of the
consumers, national income and other related factors may cause to decline the market demand of
the company products.
Management perception:
OAL always gives values to its customers’ satisfaction and changes in tastes and fashion. Therefore its
expert team promptly dedicates their creativity and research work to respond any changes in customers
demand and product diversifications.
ii. Competition:
OAL is operating in a free market economy regime. The Company might have to face stiff
competition from its competitors.
Management perception:
In today’s business world, every business entity faces a stiff completion due to free market economy
system. There is an appearance probability of new competitors and OAL management is well aware of
that. However, OAL management is confident to keep existing customers and management is
continuously looking for potential new customers to hold and expand its market.
(e) Risks steaming from technological changes:
Changes in technologies may hamper the cost efficiency of the Company.
Management perception:
OAL applies the latest technology in the manufacturing process in the production.OAL is very concerned
using high performance and sophisticated equipments. Not only sophistication but also strength is one
of our priorities. In case of new technologies, we have mastered adaptation techniques without
hampering the cost efficiency of the company.
(f) Potential or existing Govt. regulations:
The Company operates under companies act, taxation policy adopted by NBR, Bangladesh Securities
and Exchange Commission (BSEC)’s rule and rules adopted by other regulatory organizations. Any
abrupt changes of the policies formed by those bodies will impact the business of the Company
adversely. Unless adverse policies are taken, which may materially affect the industry as a whole; the
business of the Company will not be affected.
Olympic Accessories Limited
Page | 16
Management perception:
Government emphasizes on the growth of textile and garment accessories industry to boost up export.
Yet the promoters and the sponsors have to endeavor to convince the policy makers for adopting
favorable terms and conditions, which will eventually help the accessories manufacturers of Bangladesh
to compete with other firms in the global arena.
(g) Potential changes in global or national policies:
The performance of the company may be affected by the political and economic instability both in
Bangladesh and worldwide. Any instance of political turmoil and disturbance in the company may
adversely affect the growth and general condition of the economy.
Management perception:
Now a day, global and national policies do not change without prior notice. For potential changes in
policies, local and global leaders consider different issues including industries opinion. We are optimistic
that if any policies change unpredictably we can improvise with new policies without hampering our
smooth operation.
(h) History of non-operation, if any:
History of non-operation indicates weak operational management of the Company. Non-operation
leads to negative cash flow, incurring of losses and bankruptcy in worst case scenario.
Management perception:
As a manufacturer we take our operation very seriously. We know if operation is stopped for one day
that can hamper supply to our customers. In any situation, we do not compromise with our operation.
Our company started commercial operation from 7th October, 2007 and we are proud to state that the
company has never been non-operative till date.
(i) Operational risks:
There may have some risks in operating the machineries and equipment, damaging Company’s assets
and lives of its employees and workers.
Management perception:
OAL is always committed to ensuring congenial work environment and giving priority for the safety for
its human resource. The Company also has insured its assets to minimize the degree of loss. The
compensation as well the benefit package will restrain the employees to leave their assignment and go
for any employee movement for higher benefit packages. The Company is equipped with power backup
and security systems, which reduce operational risk.
(j) Other risk factors:
i. Increasing labor cost:
Labor cost is increasing day by day. Recently, Government fixed a minimum wage for the labor. It will
definitely increase the labor cost. Increase in the labor cost will increase the product cost which may
give the competitors a comparative advantage over the Company.
Management perception:
Recently, Government fixed a minimum wage for the labor. It will definitely increase the labor cost.
Labor cost is one of the most important inputs for every manufacturing company. OAL’s nature of
business is manufacturing, that’s why if labor cost increased the company’s profitability might be lower.
However, if labor gets better salary, their job satisfaction, motivation will increase; what will definitely
increase their productivity and because of higher production OAL’s profitability will be greater.
Olympic Accessories Limited
Page | 17
ii. Political Unrest:
Bangladesh is prone to serious unrest in the political condition which produces Hartal, Road-Block
and many other barriers to the business. This could also propel the cost of the product upwards.
Management perception:
During the last forty years of post-independence period, Bangladesh has gone through a variety of
political situations. But presently, a sound political atmosphere is prevailing in the country. Both the
ruling and opposition parties are committed to the betterment of the country. Last democratic national
assembly election and local council polls are instances of peaceful political situation in Bangladesh.
iii. Possible slowdown in economic growth in Bangladesh:
Our performance and growth are dependent on the health of the Bangladesh economy. The
economy could be adversely affected by various factors such as political or regulatory action,
including adverse changes in liberalization policies, social disturbances, terrorist attacks and other
acts of violence or war, natural calamities, commodity and hike commodity &energy prices and
various other factors. Any significant change may adversely affect our business and financials.
Management perception:
Bangladesh economy is booming for last few years. Consistent industrial growth along with increased
agricultural production has made the Per Capita Income higher than that of recent years. In addition,
favorable government policies and industry friendly policies by other regulatory bodies have proved to
be friendly to the economy of the country.
iv. Natural calamities:
Bangladesh is a country where recurrent natural calamities take place every year. It is a serious threat
to the business. The coverage of natural calamities like cyclone, flood by insurance may severely
weaken the financial strength of the company by accruing heavy claims on its own retained account.
Management perception:
The estimated losses arising from natural calamities are covered by higher rates of premium and
reinsurance coverage for such losses. Management has taken into consideration statistical assessment
of occurrence of natural calamities in setting its rates of premium and reinsurance risks.
v. Advance against Land:
It is observed that OAL is going to purchase 10 Katha land at Mripur, Dhaka against payment of
Tk. 8.85 crore was registered (Bayna) on April 02, 2014. OAL has already given a substantial amount of
money as advance. The validity of the agreement will expire on April 01, 2015. In the case of land
purchase failure, if OAL cannot recover this amount from the seller of the land then there is risk of
financial loss for the Company.
Management Perception:
The management of OAL has already paid 90% (approximately) of the said land price. OAL will pay the
rest amount (Tk. 1.15 Crore) within April 01, 2015. If this deal is not finished by the mentioned time,
OAL management and the landlord will extend the time by mutual discussion.
Olympic Accessories Limited
Page | 18
PART III: ISSUE SIZE AND PURPOSE OF THE PUBLIC OFFERING
(a) CAPITAL STRUCTURE:
Subject to regulatory approval Olympic Accessories Limited would increase its paid-up capital by issuance
of 20,000,000 Ordinary Shares of Tk. 10.00 each. The following table below elaborates the existing and
proposed capital structure of the company.
EXISTING CAPITAL STRUCTURE OF THE COMPANY
Particulars Shares (No.) Amount in
Taka
Authorized Capital – 155,000,000 Ordinary Share of Tk. 10.00 each 155,000,000 1,550,000,000
*Issued Subscribed & Paid-up Capital- 96,910,000 Ordinary Share of
Tk. 10.00 each 96,910,000 969,100,000
*Issued Subscribed & Paid-up Capital
Allotment Date
Basis (No. of Shares) Face Value of
Share (Tk.)
Paid-up
In cash Other than Capital Tk.
in cash
Bonus
28.05.2003
(At the time of Incorporation)
6,000 - - 100 600,000
20.02.2007 (1stAllotment) 120,000 - - 100 12,000,000
18.01.2014 (2nd Allotment) 872,000 - - 100 87,200,000
16.04.2014 (3rd Allotment) 10,000 - - 10 100,000
27.06.2014 (4th Allotment) 86,920,000 - - 10 869,200,000
Total 969,100,000
PROPOSED CAPITAL STRUCTURE OF THE COMPANY
Particulars Shares (No.) Amount in Taka
Issued Subscribed & Paid-up Capital- 96,910,000 Ordinary Share of Tk.
10.00 each 96,910,000 969,100,000
Issued & fully Paid up Capital after Capital Raising
Capital Raising ( 20,000,000 Ordinary Shares of Tk. 10.00 each) 20,000,000 200,000,000
Issued & fully Paid up Capital after Issuing Ordinary Shares 116,910,000 1,169,100,000
(b) USE OF PROCEEDS AND IMPLEMENTATION SCHEDULE:
Net proceeds from Initial Public Offering (IPO) will be used for acquisition of Machinery & Equipment,
Construction of Building and for IPO Expenses.
Use of Proceeds and Implementation Schedule given under as follows:
SL Particulars Amount in Tk. Implementation Schedule
1 Construction of Building 72,668,036 Within 18 months after receiving IPO fund
2 Acquisition of Machinery &
Equipment
112,831,964 Within 18 months after receiving IPO fund
3 IPO Expenses (Page-30) 14,500,000 As and when required
Total 200,000,000
Olympic Accessories Limited
Page | 19
Construction of Building:
Detail Estimate & BOQ for Construction of proposed Factory Building (21,000 sft) of Olympic Accessories
Ltd. at Bishia Kuribari, Rajendrapur, Gazipur.
Name of work
(Civil Work) Item Name Size Quantity Unit Rate (Tk.) Amount (Tk.)
Beam & Slab
M.S Rod
10 mm 154,320 kg 65 10,030,800
12 mm 153,084 kg 65 9,950,460
16 mm 84,904 kg 65 5,518,760
cement
25,650 bag 430 11,029,500
Sand
70,140 cft 55 3,857,700
stone 140,292 cft 135 18,939,420
Brick Work
1st class Brick
12,160 nos 8 97,280
cement 526 bag 430 226,180
sand
1,200 cft 35 42,000
Ceiling Plaster,Inner
& Outer Plaster
cement 890 bag 430 382,700
sand
3,514 cft 28 98,392
Tiles
Floor
20,000 sft 170 3,400,000
Wall
1,600 sft 250 400,000
Thai Glass
4,048 sft 350 1,416,800
Grill
864 sft 220 190,080
Door
11 nos 3,000 33,000
Paint
Distemper
40 drum 3,000 120,000
Plastic paint
40 drum 4,000 160,000
Weather coat
40 drum 6,500 260,000
Sealer
16 drum 3,500 56,000
putty
4 drum 2,700 10,800
Sanitary Toilet
8 nos 60,000 480,000
Kitchen
1 nos 50,000 50,000
Labor Cost
Civil
20,000 sft 220 4,400,000
Electrical
700,000
Sanitary
300,000
Tiles
250,840
Paint
200,000
Others
67,324
Total Cost of Construction 72,668,036
Details of Machinery & Equipment:
Particulars Amount in Tk.
*L/C Value CHF 1,274,333@ Tk. 80.00 101,946,640
L/C Commission& Other Bank Charges 950,000
Insurance 80,500
Other Customs related charge 20,600
C & F Commission & other Charges 745,000
Installation charges 8,439,224
Carrying Charge 650,000
Total Cost of Machinery & Equipment 112,831,964
Olympic Accessories Limited
Page | 20
* Break up of L/C Value CHF 1,274,333@ Tk. 80.00 amounting Tk. 101,946,640.00:
Sl.
No. QTY Description Amount
in CHF
Amount in
BDT
1 4 HIGH-PERFORMANCE LABEL WEAVING MACHINE MUGRIP
MBJ6 1/1380 SPE 1.1 1536/1152 TAFFETA including it’s
designing software
HS Code 84 46 10 00
1,274,333
101,946,640
2 2 ULTRASONIC LABEL CUTTER MUSONIC 2
Hs Code 8451.50.00
3 6 Narrow fabric weaving machine, type VARITEX V5MJ 6/50
J320
Sd/- Sd/-
Md. Zafran Tareque Chowdhury Md. Golam Kibria
Chief Financial Officer Managing Director
PART IV: DESCRIPTION OF BUSINESS
(a) Information of the Company
Incorporation:
Olympic Accessories Limited (OAL) was incorporated in Bangladesh as a Private Limited Company with
the issuance of Certificate of incorporation bearing no. C- 49349 (1333) of 2003 dated on May 28, 2003
by the Registrar of Joint Stock Companies & Firms. The Company Converted into Public Limited Company
on July 02, 2014 and split of Share value from Tk. 100 to Tk. 10 dated on March 09, 2014.
Inception of commercial operation:
The Company started its commercial operation on 07th October, 2007.
Factory Location:
The factory premise of OAL is located at Bishia Kuribari, Rajendrapur, Gazipur, Bangladesh.
Nature of business:
The principal activities of the company are to carry on the business of manufacturing, processing,
printing, cutting, sealing and assembling of all kinds of Hanger, Carton, Elastic, Twill tape, Back board,
Tissue paper, Gum tape, Interlining, Label, Poly Bag, Thread, Sticker, Photo inlay, Bar code, Hangtag etc.
(b) Business operation
(1) Principal products or services and the market for such products or services:
Our main products and services are:
Product Name Market
Hanger, Twill Tape, Elastic, Sewing Thread, Photo
Card, Paper Band, Hang tag, Barcode, Size Tag,
Price Tag, Poly Bag, Tissue Paper, Lamination, Gum
Tape, Interlining, Size Label, Care Label, Main Label,
Bopp Gum Tape, Back board, Master Carton, Inner
Carton, Top & Bottom.
It supplies garment accessories to export
oriented garments industry against Back to Back
L/C.
All 100% export oriented garments industries is
the main buyer.
Its work as deemed exporter.
Olympic Accessories Limited
Page | 21
(2) Product or service contributing more than 10% of the Company’s total revenues:
According to product category we are serving below percentage:
Finished Products / Goods % of Contribution of total revenues for the
year 30 June, 2014
Hanger 39.94%
Photo Card 13.72%
(3) Name of Associates, Subsidiary/Related Holding Company and their core areas of business:
Olympic Accessories Limited (OAL) has no associates, subsidiary/related holding company.
(4) Distribution of the products or services:
Olympic Accessories Limited is a 100% deemed export oriented accessories industry. Its products are
marketed based on buyer’s requirement. It supplies garment accessories to export oriented garments
industry against Back to Back L/C and operated as deemed exporter.
The distribution process may demonstrate as follows:
Raw Material Import
Ware House
Inspection regarding
quality of Raw Materials &
supply to production floor
Raw material process and sample
production
Final production
Quality Check
Packing
Finished Ware House
Export/ Delivery
Olympic Accessories Limited
Page | 22
(5) Competitive conditions in the business:
In Bangladesh a number of firms are engaged in garments accessories industries. Since Bangladesh is one
of the prime sources of garment products. Major competitors are:
1. Bengal Windsor Thermoplastics Ltd.
2. Plastic Accessories Ltd. (Partex Group)
3. KDS Accessories Ltd.
4. Accessories World (Pran-RFL Group)
5. Liberty Poly Zone (BD) Ltd.
6. DAF Ctg. Accessories Ltd.
(6) Sources and availability of raw materials and the names of the principal suppliers:
Main raw materials of the OAL are yarn, thread, spun polyester, silicon oil, GPPS, HIPS, PP, LDPE, K Resin,
Titanium, Master batch, card, board, which the company procures from overseas market. The company
has some trusted suppliers of its raw materials. Some examples are given below:
SL Name of Supplier Address Product
01 PT. Pabrik kertas Tjiwi Kimia Co. Ltd. Indonesia
Duplex Board , White Liner, ART CARD,
CARD Board
02 Sumitomo Chemical Asia Co. Ltd. Singapore LLDPE
03 PT. Indah Kiat Pulp & Paper TBK. Indonesia
Duplex Board, ART CARD, Duplex Board,
CARD Board
04 Gold East Trading Co. Ltd. China Duplex Board, ART CARD, White Liner
05 Oman Polypropylene LLC. Oman PP
06 Supreme Petrochen India GPPS, HIPS
(7) Sources of, and requirement for, power, gas and water; or any other utilities:
Power:
Company has electric connection from Rural Electric Board (REB) and captive power supply facilities by 2
diesel generators of 1200 KVA capacities are used to avoid interruption of power supply.
Water:
Company uses its own tube well to supply water in the factory. There has no water constraint.
Gas:
Except for ordinary use in office, the company does not require gas for manufacturing operation in any of
the production line.
(8) Names of customers who purchase 10% or more of the Company’s products/services:
The customers who purchase 10% or more of the Company’s products are as follows:
Productive Goods Customers Country
Hanger, Twill Tape, Elastic, Sewing Thread, Photo
Card, Paper Band, Hang tag, Barcode, Size Tag,
Price Tag, Poly Bag, Tissue Paper, Lamination,
Gum Tape, Interlining, Size Label, Care Label,
Main Label, Bopp Gum Tape, Back board, Master
Carton, Inner Carton, Top & Bottom.
Jeans Manufacturer Co. Ltd. Bangladesh
Zahintex Ind. Ltd Bangladesh
DK Sweater Ltd. Bangladesh
Skyline Garments Ltd. Bangladesh
Good Rich Sweater Ltd. Bangladesh
(9) Description of any contract with its principal suppliers and customers:
The Company has not entered into any contract with any of its suppliers or customers.
Olympic Accessories Limited
Page | 23
(10) Description of any material patents, trademarks, licenses or royalty agreements:
The Company neither obtained any patent right/trademarks nor signed any royalty agreement with
any party, though the Company has the following licenses necessary for business operations:
1. Trade License.
2. BGAPMEA Membership Certificates.
3. IRC & ERC
4. Fire License
5. BOI License
6. Environment License
7. Bond Ware House License
(11) Number of total employees and number of total full-time employees:
The company has 452 permanent full-time employees as of June 30, 2014. Details are as follows:
Salary Range (Tk.)
Officer & Staff
Worker Total Employee
Factory Head Office
Below 5300 - - - -
Above 5300 25 63 364 452
Total 25 63 364 452
(12) Production or services rendering capacity and current utilization:
Sl. No. Name of the Product Installed Capacity
(M. Ton)
Actual
Production (MT)
Capacity
Utilization in %
1 Carton 2,421.23 1,927.06
77.94%
2 Elastic 415.15 230.90
3 Twill Tape 390.56 262.40
4 Hanger 4,166.19 3,996.41
5 Poly 1,690.30 726.75
6 Photo Card 2,887.50 2,398.47
7 Back Board 2,058.50 1,592.93
8 Size/Price/Bar Code/ Tag 150.00 52.56
9 Tissue Paper 160.00 88.05
10 Interlining 290.00 181.36
11 Label 350.50 213.52
12 Gum Tape 230.51 185.21
Total 15,210.44 11,855.62
Olympic Accessories Limited
Page | 24
PART V: DESCRIPTION OF PROPERTY
A. The Company has following fixed assets as on June 30, 2014:
Particulars Written Down Value as at 30.06.2014
Land & Land Development 61,332,420
Factory Buildings 161,934,557
Plant & Machinery 547,723,099
Electrical Installation & Equipment 52,300,623
Generator 5,767,486
Vehicles 6,016,333
Furniture and Fixture 6,714,078
Office Equipment 3,352,216
Fire Equipment 7,380,905
Grand Total 852,521,716
B. The entire above mentioned asset are located at the Company’s factory premises at Bishia Kuribari,
Rajendrapur, Gazipur and registered office at House # 54 (1st Floor), Road # 08, Block # D, Niketon,
Gulshan-1, Dhaka-1212.
C. All the assets of the Company are in its own name.
D. 190 Decimals of land demarcated with boundary wall along with 4 nos. of buildings e.g. 2 storied measuring
of 4,300 sft, one storied measuring 7,300 sft, godwon measuring 3,900 sft and factory building measuring
48,000 sft.
E. All the assets are in good condition and no re-conditioned or second hand assets or machinery is used
by the Company. Mentionable here that, 190 decimals of land (Registered Deed) of the company
located at Bishia Kuribari, Rajendrapur, Gazipur.
F. All above mentioned assets are mortgaged to Mercantile Bank Limited, EXIM Bank Limited and NCC
Bank Limited.
G. No property is taken by the Company under lease agreement.
H. Description of Land:
Sl. No. Location Dag No. Khotian No.
Area in
Decimals
01 Bishia Kuribari, Rajendrapur,
Gazipur
1548, 1549, 4781,
4778, 4779
26, 36, 436, 140, 694, 777 190.00
I. Details of Plant & Machineries:
Sl. No. Name of Machineries Amount in Taka
01 Hanger Unit Machineries 250,816,996
02 Elastic and Twill Tape Knitting Machineries 266,178,028
03 Interlining Machineries 29,439,116
04 Offset Paper Printing Machineries 5,366,478
05 Dye Cutting Machineries 17,430,064
06 Label Printing and Cutting Machineries 40,101,563
07 Velco Tape Machineries 5,744,523
08 Gum Tape Machineries 10,261,501
09 Tissue Paper Cutting Machineries 2,162,573
10 Poly Bag Manufacturing Machineries 23,437,812
11 Corrugated Carton Manufacturing Machineries 140,933,541
Total Value of Machineries 791,872,195
Olympic Accessories Limited
Page | 25
J. Advance paid an amount of Tk. 8.85 crore against purchase of 10 Katha land at Mirpur, Dhaka vide
registered agreement (Bayna) no. 9515 on April 02, 2014.
K. Capital work in progress represents under construction of factory building measuring 21,000 sft at
Bishia Kuribari, Gazipur. Details of capital works in progress amounting Tk. 2.89 crore are as follows:
Details of Capital work in process (Building Construction)
Item Name Amount in Taka
Soil 1,741,600
Sand 2,314,270
Bricks 3,570,200
Brick Chips 1,206,815
Cement 6,775,675
Rod 7,118,380
Stone Chips 1,625,080
Steel and Grill 640,650
Wood 793,629
Tools and Others 713,765
Labor 2,439,460
Total 28,939,524
DECLARATION REGARDING MACHINERIES ARE BEING BRAND NEW
To Whom so ever it may Concern
According to the available documents and papers of Machineries it appears that Olympic Accessories
Limited has been using all the machineries as imported and purchased locally in new condition as
declared by the management of the company as on June 30, 2014.
Sd/-
Dhaka Ahmed Zaker & Co.
Dated: January 26, 2015 Chartered Accountants
DECLARATION RELATED TO MACHINERIES BEING BRAND NEW
All machineries of the Company are brand new and no re-conditioned or second hand machineries are
used by the company as on June 30, 2014.
Sd/- Sd/-
Md. Zafran Tareque Chowdhury Md. Golam Kibria
Chief Financial Officer Managing Director
Olympic Accessories Limited
Page | 26
FACTORY VISIT REPORT FROM ISSUE MANAGERS
Factory Visit Report
Of
Olympic Accessories Limited
This is to certify that we have visited the factory of Olympic Accessories Limited on August 05, 2014 and
we have found the factory as details bellow:
Factory Location: The factory is well situated at Bishia Kuribari, Rajendrapur, Gazipur.
Factory premises: The area of the factory is 190 Decimals demarcated land along with 4 nos. of
Buildings.
Factory Production: During visit time, the production of the factory was running. The products are
Hanger, Twill Tape, Elastic, Sewing Thread, Photo Card, Paper Band, Hang tag, Barcode, Size Tag, Price
Tag, Poly Bag, Tissue Paper, Lamination, Gum Tape, Interlining, Size Label, Care Label, Main Label, Bopp
Gum Tape, Back board, Master Carton, Inner Carton, Top & Bottom.
Factory Machineries: The machineries of the factory are running well.
Factory worker: Officers and workers are presented during the visit time and 355 workers are working in
the factory.
Comments: The factory is in production and running smoothly.
Sd/-
Nripendra Chandra Pandit
Chief Executive Officer, (C.C.)
PLFS Investments Limited
Sd/-
Mufakhkharul Islam
Managing Director & CEO
CAPM Advisory Limited
Olympic Accessories Limited
Page | 27
PART VI: PLAN OF OPERATION AND DISCUSSION OF FINANCIAL CONDITION
(1) Internal and external sources of cash:
(As per Audited Accounts)
Particulars 30-Jun-14 30-Jun-13 30-Jun-12
Internal Sources of Cash
Share capital 969,100,000 12,600,000 12,600,000
Retained Earnings 614,369,312 475,643,964 358,594,643
Total 1,583,469,312 488,243,964 371,194,643
External Sources of Cash
Long Term Loans - 153,120,546 210,562,874
Total - 153,120,546 210,562,874
Grand Total 1,583,469,312 641,364,510 581,757,517
(2) Any material commitments for capital expenditure and expected sources of funds for such
expenditure:
There is no material commitment for expenditure.
(3) Causes for any material changes from period to period in income, cost of goods sold, other
operating expenses and net income:
The Company’s revenue and other income as well as cost of goods sold, other operating expenses
and net income have continued to change due to increasing business volume.
(As per Audited Accounts)
Particular 30-Jun-14 30-Jun-13 30-Jun-12
Sales Revenue 1,403,179,268 1,231,471,004 1,071,662,481
Less: Cost of Goods sold 1,097,416,206 964,306,919 851,221,509
Gross Profit 305,763,062 267,164,085 220,440,972
Less: Operating Expenses 70,469,197 46,986,387 31,366,628
Less: Financial Expenses 66,359,730 69,085,836 65,794,751
Net Profit before Tax 168,934,135 151,091,862 123,279,593
Workers Profit Participation Fund 8,044,483 - -
Net Profit before Tax & WPPF 160,889,652 151,091,862 123,279,593
Less: Provision for Taxation 10,832,078 9,616,861 6,274,745
Less: Deferred Tax Expenses 11,332,226 7,654,555 -
Net Profit after Tax 138,725,348 133,820,446 117,004,848
Over the years, the company has been able to grow its operation increasingly. During the year ended
on June 30, 2012; June 30, 2013 and June 30, 2014 the company attained significant growth. During
FY 2013, the company was able to achieve a decent growth of 14.92%. Moreover, in FY 2014, the
revenue increased by 13.94%.
Over the last three years, the company has been able to maintain impressive gross profit margins.
During the years ended on 30 June 2014 and 2013 the company’s gross profit margin remained at
14.45% and 21.20% respectively. The company’s machineries are very efficient, product minimal
wastage and require very low maintenance and overhauling costs. All these have enabled the
company to maintain such impressive level of gross profit margins.
The net profit margins increased over the years due to proportionately decreasing interest expense
on long term loans. During the years ended on 30 June 2014 and 2013, the company’s net profit
margin remained at 3.67% and 14.37% respectively. It is mentionable that, in 2014 we have created a
Workers Profit Participation Fund (WPPF) amounting Tk. 8,044,483 and this amount unfavorably
effects our “Net Profit”. However, we are sure that the WPPF will motivate our staffs in a positive
manner, and in near future our profitability will increase.
Olympic Accessories Limited
Page | 28
Noticeably, the company’s net profit margin remained significantly lower that gross profit margin due
to high interest expense. Once the company pays of a portion of its long term loans with the
proceeds of the IPO, the net income of the company would increase significantly.
(4) Any seasonal aspects of the Company’s business
No seasonal aspects can adversely affect the business of OAL.
(5) Any known trends, events or uncertainties that shall have a material effect on the Company’s
future business
At present there are no known trends, events and/or uncertainties that shall have a material impact
on the Company’s future business except for those which are natural and beyond control of human
being.
(6) Any change in assets of the Company used to pay off any liabilities
None of the operating assets of the Company has been disposed off to liquidate any liabilities of the
Company.
(7) Any loan taken by the Issuer from its Holding/Parent Company or Subsidiary Company or loan
given to aforesaid Company:
The Company did not take any loan from its Holding/Parent Company or Subsidiary Company or give
to aforesaid.
(8) Any future contractual liabilities the Company might enter into within next one year, and the
impact:
The Company has no plan to enter into any contract creating future liabilities for the Company except
for those which are created in the normal course of business activities.
(9) Future capital expenditure:
The Company does not have any plan for future capital expenditure except for those mentioned in
the “Use of IPO Proceeds” section above in this prospectus.
(10) Any VAT, Income Tax, Customs Duty or other tax liability including any contingent liabilities:
(i) VAT: There is no applicable VAT for the Company as it is 100% export oriented accessories
company.
(ii) Income Tax: As per certificate of the Deputy Commissioner of Taxes, Tax Circle-293
(Companies), Taxes Zone -14, Dhaka, the assessment of the company has been completed
upto assessment year 2013-2014. Applicable tax rate is 10.00%. Year wise Income Tax status
of the Company is depicted below:
Accounting
year
Assessment
Year
Assessment Status
June 2009 2009-2010
As per certificate given by DCT of Tax Circle-01 (Companies), Taxes Zone -1, Dhaka
dated 19.08.2010,that the Companies income tax case has been settled for the
assessment year 2009-2010 and tax payment paid in full.
June 2010 2010-2011
As per certificate given by DCT of Tax Circle-01 (Companies), Taxes Zone -1, Dhaka
dated 15.09.2011,that the Companies income tax case has been settled for the
assessment year 2010-2011 and tax payment paid in full.
June 2011 2011-2012
As per certificate given by DCT of Tax Circle-293 (Companies), Taxes Zone -14, Dhaka
dated 28.08.2012,that the Companies income tax case has been settled for the
assessment year 2011-2012 and tax payment paid in full.
June 2012 2012-2013
As per certificate given by DCT of Tax Circle-293 (Companies), Taxes Zone -14, Dhaka
dated 10.04.2013,that the Companies income tax case has been settled for the
assessment year 2012-2013 and tax payment paid in full.
June 2013 2013-2014
As per certificate given by DCT of Tax Circle-293 (Companies), Taxes Zone -14, Dhaka
dated 18.08.2014,that the Companies income tax case has been settled for the
assessment year 2013-2014 and tax payment paid in full.
June 2014 2014-2015 Assessment is under process.
(iii) Customs Duty: There is no custom duty of the Company as on 30 June, 2014.
Olympic Accessories Limited
Page | 29
(11) Any Operating Lease the Company has entered into during the last five years:
There is no operating lease agreement the Company has entered into during the five years
preceding the issuance of the prospectus. However, the registered and corporate office of the
Company is established in a rented space under the following condition:
Address
Area
(sft)
Period
Rent p/m
(Excluding other charges)
House # 54, Road # 08, Block # D,
Niketon, Gulshan-01, Dhaka- 1212
1600
From 1st June, 2013 to
31st May, 2016
50,000/-
(12) Any Financial commitment, including lease commitment, the Company had entered into
during the past five years:
The Company has no financial commitment, including lease commitment the Company had entered
into during the past five years.
(13) All Personnel related Schemes:
The Company has established a short-term employee benefits including salaries, bonus, group
insurance (insured by Republic Insurance Company Limited), contribution to workers profit
participation fund (WPPF) for the welfare of its workers.
The company has no provident fund and gratuity fund benefits.
Olympic Accessories Limited
Page | 30
(14) Break down of all expenses connected with the public issue:
The following amount to be paid to the Issue Managers, Underwriters and other costs are as follows:
Sl.
No. Particulars Basis
Amount in BDT
(approx.)
A. MANAGERS TO THE ISSUE FEES 2,300,000
1 Managers to the Issue fee
1.00% of public offering, Maximum Tk.
2,000,000 (Twenty Lac) 2,000,000
2 VAT against Issue Management
Fees
15.00% of issue management fees 300,000
B. FEES RELATED TO LISTING WITH THE STOCK EXCHANGES 3,912,300
3 Prospectus Submission Fee to DSE Fixed 5,000
4 DSE and CSE Annual Fee Fixed 200,000
5 Fees related to Listing with the
Stock Exchanges
@ 0.25% on Tk. 10 Crore and 0.15% on the
rest amount of paid up capital range;
(minimum Tk. 10 thousand maximum Tk. 20
Lac for each exchanges)
3,707,300
C. BSEC FEES 310,000
6 Application fee Fixed 10,000
7 Consent fee fee @ 0.15% on entire offer 300,000
D. IPO RELATED FEES 2,500,000
8 Underwriting commission (0.40%)
Commission @ 0.40% on Underwritten
Amount 400,000
9 Bankers to the Issue commission
Commission @ 0.10% of Collected Amount
(Assumed 10 Times) 2,000,000
10 Auditors Certification fees At Actual 100,000
E. CDBL FEES AND EXPENSES 813,093
11 Security Deposit At Actual 500,000
12 Documentation fee At Actual 2,500
13 Annual fee At Actual 100,000
14 Connection Fee (TK. 500 per
month* 12)
At Actual 6,000
15 Initial Public Offering fee
@.0175% of issue size+.0175% of Pre-IPO
paid up capital 204,593
F. PRINTING AND POST PUBLIC OFFER EXPENSES 4,664,607
16 Publication of prospectus Estimated (to be paid at actual) 500,000
17 Abridge Version of Prospectus
and Notice in 4 daily news paper
Estimated (to be paid at actual) 500,000
18 Notice for prospectus, Lottery,
Refund etc.in 4 daily news paper
Estimated (to be paid at actual) 200,000
19 Printing of forms Estimated (to be paid at actual) 400,000
20
Lottery related expenses including
BUET fee Estimated (to be paid at actual) 800,000
21 Data Processing, Distribution Estimated (to be paid at actual) 1,564,607
22 Courier Expenses Estimated (to be paid at actual) 300,000
23 Allotments & Refunds Estimated (to be paid at actual) 100,000
24
Administrative & Stationary
Expense Estimated (to be paid at actual) 300,000
Grand Total 14,500,000
Olympic Accessories Limited
Page | 31
(15) Information regarding revaluation of assets:
The Company has not revalued any of its assets since its incorporation.
(16) Transaction between Holding/subsidiary/associate Company and the Issuer within the last
five years:
There is no transaction between holding/subsidiary/associate Company and the Issuer within the last
five years.
(17) Auditors certificate regarding any allotment of shares to the directors and subscribers to the
Memorandum of Association and Articles of Association for any consideration otherwise than
for cash
This is to certify that paid-up capital of Olympic Accessories Limited as of June 30, 2014 was
Tk. 969,100,000 divided into 96,910,000 ordinary shares of Tk. 10.00 each. Details of allotment
and mode of allotment are as follows:
Allotment Date
Basis (No. of Shares) Face Value
of Share
(Tk.)
Paid-up
In cash Capital Tk.
Other than
in cash Bonus
28.05.2003
(At the time of Incorporation)
6,000 - - 100 600,000
20.02.2007 (1stAllotment) 120,000 - - 100 12,000,000
18.01.2014 (2nd Allotment) 872,000 - - 100 87,200,000
16.04.2014 (3rd Allotment) 10,000 - - 10 100,000
27.06.2014 (4th Allotment) 86,920,000 - - 10 869,200,000
Total 969,100,000
The company has changed the face value of its ordinary share from Tk. 100.00 to Tk. 10.00 by
passing a special resolution in its extra ordinary general meeting held on March 09, 2014 and
necessary amendments in capital clause of the Memorandum and Articles of Association where
made accordingly. Thus, the paid up capital of the company stands at Tk. 969,100,000 divided into
96,910,000 ordinary shares of Tk. 10.00 each as of June 30, 2014.
Dated: January 26, 2015
Dhaka
Sd/-
Ahmed Zaker & Co.
Chartered Accountants
(18) Declaration regarding suppression of material information
This is to declare that to the best of our knowledge and belief no information, facts, circumstances,
that are material have not been suppressed that can change the terms and conditions under which
the offer has been made to the public.
Sd/-
Md. Golam Kibria
Managing Director
Olympic Accessories Limited
Page | 32
PART VII: DIRECTORS AND OFFICERS
(1) Name, age, qualification, experience and position of all Directors of the Company:
SL Name Designation Qualification
Age
(Year)
Experience
(Year)
1 Md. Golam Kibria
Managing
Director M.A 55 25
2 Mrs. Farida Akhter Chairman B.A 43 18
3 Md. Golam Sorowar
(Nominee Director of Navana Poly Packaging Ltd.) Director M.A 44 15
4 Md. Golam Moula Majumder
(Nominee Director of Bay Poly & Packaging Ltd.) Director
Diploma In
Graphics
47 15
5 Rifat Bin Kibria
(Nominee Director of Riverside Apparels Ltd.) Director M.A 24 01
(2) Information regarding Directors and Directorship:
SL Name Position
Date of first
Directorship
Date of Expiration
of Current term
1 Md. Golam Kibria
Managing
Director
28/05/2003
One Third of the Director
will be retired in every
AGM and elected
2 Mrs. Farida Akhter Chairman 31/12/2010
3 Md. Golam Sorowar
(Nominee Director of Navana Poly Packaging Ltd.) Director 11/06/2014
4 Md. Golam Moula Majumder
(Nominee Director of Bay Poly & Packaging Ltd.) Director 11/06/2014
5 Rifat Bin Kibria
(Nominee Director of Riverside Apparels Ltd.)
Director 11/06/2014
(3) Involvement of Directors in other organization
SL Name
Designation
in OAL
Directorship/Sponsorship/
Ownership with other companies
Position
1 Md. Golam Kibria
Managing
Director
Navana Poly Packaging Ltd Chairman
CGT Corporation Ltd. Chairman
Riverside Apparels Ltd. Chairman
2 Farida Akhter Chairman
Navana Poly Packaging Ltd.
Managing
Director
Riverside Apparels Ltd.
Managing
Director
3
Md. Golam Sorowar
(Nominee Director of Navana Poly
Packaging Ltd.)
Director - -
4
Md. Golam Moula Majumder
(Nominee Director of Bay Poly &
Packaging Ltd.)
Director - -
5
Rifat Bin Kibria
(Nominee Director of Riverside
Apparels Ltd.)
Director - -
Olympic Accessories Limited
Page | 33
(4) Family Relationship among Directors and top five officers:
i. Family relationship among directors
SL Name Designation Relationship
1 Md. Golam Kibria Managing Director Husband of Mrs. Farida Akhter
2 Mrs. Farida Akhter Chairman Wife of Md. Golam Kibria
3 Md. Golam Sorowar
(Nominee Director of Navana Poly Packaging Ltd.)
Director Brother of Md. Golam Kibria
4 Md. Golam Moula Majumder
(Nominee Director of Bay Poly & Packaging Ltd.)
Director Brother of Md. Golam Kibria
5 Rifat Bin Kibria
(Nominee Director of Riverside Apparels Ltd.)
Director
Son of Md. Golam Kibria and
Mrs. Farida Akhter
ii. Family relationship among directors and top five officers of the company
SL Name Designation Relationship
1 Md. Golam Kibria Managing Director Husband of Mrs. Farida Akhter
2 Mrs. Farida Akhter Chairman (Director Compliance) Wife of Md. Golam Kibria
There is no family relationship among any of the directors and any of the top five employees of the
company except mentioned above.
(5) Short bio-data of each director:
Md. Golam Kibria:
Managing Director, Olympic Accessories Limited
Mr. Md. Golam Kibria was born in 11 July 1959 in an illustrious family of Feni. His father is Syed Ahmed
Mozumder, mother is Shofura Akhter and spouse is Mrs. Farida Akhter. His residence address: Flat 6/A,
House # 35/10/1 ANS Daruchini, Pirshaheber Goli, Shantinogor, Dhaka.
Mr. Md. Golam Kibria obtained his B.A. from Feni Government College, Feni and M.A. from Jagannath
College, Dhaka. He has vast experience of garments accessories business.
Mr. Md. Golam Kibria is the Managing Director of Olympic Accessories Limited, Chairman of Riverside
Apparels Limited, Navana Poly Packaging Ltd. and CGT Corporation Ltd.
Mrs. Farida Akhter:
Chairman, Olympic Accessories Limited
Mrs. Farida Akhter was born in 1971 in an illustrious family. Her father is Late Abdul Khaleq and mother is
Late Laila Begum and spouse is Mr. Golam Kibria. Her residence address: Flat 6/A, House # 35/10/1 ANS
Daruchini, Pirshaheber Goli, Shantinogor, Dhaka. Mrs. Farida Akhter obtained her B.A. from Chiora Govt.
College, Choddogram, Comilla.
Mrs. Farida Akhter is the Chairman of Olympic Accessories Limited, Managing Director of Riverside
Apparels Ltd. and Navana Poly Packaging Ltd.
Olympic Accessories Limited
Page | 34
Md. Golam Sorowar:
Nominee Director, Olympic Accessories Limited
Mr. Md. Golam Sorowar was born in 01 January 1970 in an illustrious family of Feni. His father is Syed
Ahmed Mozumder, mother is Shofura Akhter and spouse is Mrs. Nahid Sultana. His residence address:
Flat # 8/A (7th Floor), Akhter Imam, Priyo Prangon, 3 Segun Bagicha, Dhaka
Mr. Md. Golam Sorowar obtained his B.A. from Feni Government College, Feni. He has lot of experience
of accessories business.
Mr. Md. Golam Sorowar is the Director of Olympic Accessories Limited (Nominee Director of Navana Poly
Packaging Ltd.), Chairman of Bonito Button Industries Ltd. & Riddick Knitwear Ltd. and Managing Director
of Bay Poly & Packaging Ltd.
Md. Golam Moula Majumder:
Nominee Director, Olympic Accessories Limited
Mr. Md. Golam Moula Majumder was born in 12 January 1967 in an illustrious family of Feni. His father is
Syed Ahmed Mozumder, mother is Shofura Akhter and spouse is Mrs. Shahida Nur. His residence
address: Flat # 3E (3rd Floor), House#2/KA/14, Nobab Habibullah Road, Nokshi Place, Shahabag, Dhaka.
Mr. Md. Golam Moula Majumder obtained his Diploma in Graphics from Graphics Institute of Dhaka. He
has vast experience of accessories business.
Mr. Md. Golam Moula Majumder is the Director of Olympic Accessories Limited (Nominee Director of Bay
Poly & Packaging Ltd.).
Rifat Bin Kibria:
Nominee Director, Olympic Accessories Limited
Mr. Rifat Bin Kibria was born in 01 August 1991 in an illustrious family of Feni. His father is Md. Golam
Kibria, mother is Mrs. Farida Akhter. His residence address: Flat 6/A, House # 35/10/1 ANS Daruchini,
Pirshaheber Goli, Shantinogor, Dhaka.
Mr. Rifat Bin Kibria obtained his B.A. from Queen Mary University of London and M.A. from
London School of Economic.
Mr. Rifat Bin Kibria is the Director of Olympic Accessories Limited (Nominee Director of Riverside
Apparels Ltd.).
(6) CIB Information
Neither the Company nor any of its directors and shareholders who holds 5% or more shares in the
paid up capital of the Issuer is loan defaulter as per the CIB report of the Bangladesh Bank.
Olympic Accessories Limited
Page | 35
(7) Name with position, educational qualification, date of joining in the Company, last five years
experience of the CEO, CFO,CS, Advisors, Consultants, Additional and Deputy MD and all
Departmental Heads:
SL Name Position Educational
Qualification
Date of
Joining
Last Five Years Experience
1 Md. Golam Kibria Managing Director M.A 28/05/2003 Olympic Accessories Ltd.
Navana Poly Packaging Ltd.
Riverside Apparels Ltd.
2 Md. Zafran Tareque
Chowdhury
Chief Financial
Officer
MBS, CA (CC) 01/07/2014 M.J.Abedin & Co.
3 Md. Habibullah Company Secretary M.Com, CA (CC) 01/12/2003 Olympic Accessories Ltd.
4 Ashok Kumar Pandit Asst. General Manager
(Commercial)
M. Com 01/05/2010 Anchor Milk Bangladesh
5 Md. Mohiuddin
Mollah
Manager (Accounts
& Finance)
MBS, CA (CC) 01/03/2014 Southern Group
6 Md. Rezaul Karim Manager (Factory) B.A 14/03/2012 Rupali Accessories Ltd.,
Rajdhani Accessories Ltd.
7 Md. Rokonuzzaman Manager (Accounts) B.B.S 06/10/2010 S.M. Group
8 Adv. Md. Mokhlesur
Rahman Montu
Tax Consultant M. Com From 2008 -
9 Md. Tafazzal Hossain
Forhad
Legal Advisor M. Com From 2012 -
PART VIII: INVOLVEMENT OF DIRECTORS AND OFFICERS IN CERTAIN LEGAL PROCEEDINGS
None of the Directors or Officers of Olympic Accessories Limited was involved in any of the following
types of legal proceedings in the last 10 (ten) years:
a. Any bankruptcy petition filed by or against any Company of which any officer or director of the Issuer
Company filing the prospectus was a director, officer or partner at the time of the bankruptcy.
b. Any conviction of director, officer in a criminal proceeding or any criminal proceeding pending
against him.
c. Any order, judgment or decree of any court of competent jurisdiction against any director, officer
permanently or temporarily enjoining, barring, suspending or otherwise limiting the involvement of
any director or officer in any type of business, securities or banking activities.
d. Any order of the Bangladesh Securities and Exchange Commission, or other regulatory authority or
foreign financial regulatory authority, suspending or otherwise limiting the involvement of any
director or officer in any type of business, securities or banking activities.
PART IX: CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
The Company does not have any transaction during the last two years, or any proposed transaction,
between the issuer and any of the following persons:
(a) Any director or executive officer of the issuer
(b) Any director or officer
(c) Any person owning 5% or more of the outstanding shares of the issuer
(d) Any member of the immediate family (including spouse, parents, brothers, sisters, children, and inlaws)
of any of the above persons.
Olympic Accessories Limited
Page | 36
(e) Any transaction or arrangement entered into by the issuer or its subsidiary for a person who is
currently a Director or in any way connected with a Director of either the Issuer Company or any of its
subsidiaries/holding company or associate concerns, or who was a Director or connected in any way
with a Director at any time during the last three years prior to the issuance of the prospectus.
Except for the disclosure under caption ‘Disclosure as per requirement of Schedule XI, part II,
para 4 of Companies Act, 1994’ in Note-2.12 of Audited Financial Statements, transaction between
related companies within last five years, ‘transaction with the directors and subscribers to the
memorandum’ and “Executive Compensation” part of this prospectus:
Particulars Type of Transaction Amount in Taka
Md. Golam Kibria Remuneration 390,000
Mrs. Farida Akhter Remuneration 330,000
Md. Golam Kibria
Investment in Share 100,000,000
Land Purchase 1,472,976
Mrs. Farida Akhter Investment in Share 60,000,000
Navana Poly Packaging Ltd. Investment in Share 100,000,000
M/s Bay Poly & Packaging Ltd. Investment in Share 50,000,000
M/s Riverside Apparels Limited Investment in Share 50,000,000
(f) Loan Given/Taken:
The company did not take or give any loan from or to any Director or any person connected with any
Director nor did any Director or any person connected with any Director.
(g) Any director holding any position, apart from being a director in the Issuer Company, in any
Company, society, trust, organization, or proprietorship or partnership firm is already disclosed in
involvement of directors with other organizations.
(h) Directors’ Facilities:
Facilities whether pecuniary or non-pecuniary enjoyed by the Directors will remain unchanged during
the publication period of the Prospectus. Interest and facility is already disclosed in Executive
Compensation of the Prospectus.
PART X: EXECUTIVE COMPENSATION
(a) Remuneration paid to the top five salaried officers in the last accounting year and the name &
designation of each:
SL Name Designation Salaries for last accounting
year 30 June, 2014 (Taka)
1 Mrs. Farida Akhter Chairman (Director Compliance) 330,000
2 Md. Golam Kibria Managing Director 390,000
3 Md. Habibullah Company Secretary 468,000
4 Ashok Kumar Pandit Asst. General Manager (Commercial) 468,000
5 Md. Rezaul Karim Manager (Factory) 456,000
Olympic Accessories Limited
Page | 37
(b) Aggregate amount paid to all directors and officers as a group during the last accounting year:
(As per audit report)
Sl. Particulars Nature of Payments Remuneration for last accounting
year 30 June, 2014 (Taka)
1. Directors Remuneration 3,30,000
2. Managing Director Remuneration 3,90,000
3. Officers Salary and Allowances
(Including Board Meeting fee) 34,735,100
(c) Remuneration paid to director who was not an officer of the Company during the last
accounting year:
The Company did not pay any remuneration any director who was not an officer of the Company
during the last accounting year.
(d) Any contract with any director or officer providing for the payment of future compensation:
The Company has not entered into any contract with any of its Directors or Officers for any future
compensation packages.
(e) Any Plan to substantially increase remunerations/salaries of Officers and Directors
The Company has no plan for substantially increasing remuneration to its directors and/or officers
except for those that are paid as annual increment to their salaries.
PART XI: OPTIONS GRANTED TO DIRECTORS, OFFICERS AND EMPLOYEES
The Company has no options granted to Directors, Officers or any other employees of the Company or to
any other person who was not involved in the Company.
PART XII: TRANSACTIONS WITH THE DIRECTORS AND SUBSCRIBERS TO THE MEMORANDUM
a) The Directors and subscribers to the memorandum have not received any benefits except remuneration
and board meeting fees (in note 2.12 & 16.00 of the audited accounts) received by directors, directly or
indirectly during the last five years.
b) The issuer also has not received any assets, services or other considerations from its Directors and
subscribers to the memorandum except fund against allotment of shares and 190 decimals Land from
Md. Golam Kibria, Managing Director of the Company. The Company purchased of land measuring 190
decimals located at Bishia Kuribari, Rajendrapur, Gazipur from Mr. Md. Golam Kibria, Managing Director
on March 24, 2014 amounting to Tk. 56,789,000 at competitive market price which was purchased by
Mr. Md. Golam Kibria on February 09, 2003 and May 26, 2005. The above mentioned land was
registered in the name of Olympic Accessories Limited on March 24, 2014.
Olympic Accessories Limited
Page | 38
PART XIII: TANGIBLE ASSETS PER SHARE
Net Tangible Asset backing per unit of the securities being offered as at June 30, 2014:
Particulars Amount in Taka
Non-Current Assets (A) 881,461,240
Current Assets (B) 853,324,198
Current Liabilities (C) 115,558,220
Non-Current Liabilities (D) 35,757,906
Net Assets (E=A+B-C-D) 1,583,469,312
Number of Shares (F) 96,910,000
Net Tangible Assets Value Per Share (G=E/F) 16.34
Net Tangible Asset backing per unit of the securities being offered considering Marked to Market
(Gain/Loss):
Particulars Amount in Taka
Non-Current Assets (A) 881,461,240
Current Assets (B) 853,324,198
Current Liabilities (C) 115,558,220
Non-Current Liabilities (D) 35,757,906
Marked to Market (Gain/Loss) 4,462,731
Net Assets (F=A+B-C-D+E) 1,587,932,043
Number of Shares (G) 96,910,000
Net Tangible Assets Value Per Share (H=F/G) 16.39
Olympic Accessories Limited
Page | 39
PART XIV: OWNERSHIP OF THE COMPANY’S SECURITIES
(1) Ownership of the Company’s securities:
Sl. Name of Shareholder Address Position No. of Shares (%)
1 Md. Golam Kibria Flat 6/A, House # 35/10/1 ANS Daruchini,
Pirshaheber Goli, Shantinogor, Dhaka
Managing
Director
10,000,000 10.32%
2 Mrs. Farida Akhter 90, Aga Sadek Road, Dhaka. Chairman 6,000,000 6.19%
3 M/s Navana Poly Packaging Limited
(Nominated by Md. Golam Sorowar)
21, Armanian Street, Mona Complex,
Babubazar, Dhaka.
Director 10,000,000 10.32%
4 M/s Bay Poly & Packaging Ltd.
(Nominated by Md. Golam Moula Majumder)
46/3, Water Works Road, Dhaka. Director 5,000,000 5.16%
5 M/s Riverside Apparels Limited
(Nominated by Rifat Bin Kibria)
2229/D, Hamzarbagh, Panchlish, Chittagong. Director 5,000,000 5.16%
6 Syed Golam Wadud C - 5/5, House-17, Road-79, Gulshan-2,
Dhaka - 1212.
Shareholder 1,000,000 1.03%
7 Mrs. Hosneara Begum 592/B, Mehadibag Road, Dampara, Kotowali,
Chittagong.
Shareholder 950,000 0.98%
8 M/s Orion Infusion Limited 153 Tajgaon I/A, Dhaka. Shareholder 4,000,000 4.13%
9 M/s Orion Pharma Limited 153 Tajgaon I/A, Dhaka. Shareholder 3,000,000 3.10%
10 M/s Global Shoes Ltd House-127,Road-10, Block-C, Niketon,
Gulshan-1, Dhaka
Shareholder 4,300,000 4.44%
11 Samaresh Banik 154/1, Cresent Road, Dhanmondi, Dhaka. Shareholder 350,000 0.36%
12 Ferdous Jaman lqbal Road, Mohammadpur, Dhaka-1207 Shareholder 500,000 0.52%
13 Ms. Nazia Akter 36/1. Uttar Bagun Bari, Dhaka-1208. Shareholder 300,000 0.31%
14 Mohammad Obaidul Karim House # 12, Road# 18, Block # J, Banani, Dhaka Shareholder 4,500,000 4.64%
15 Salman Obaidul Karim House # 2, Road # 18, Block # J, Banani, Dhaka Shareholder 4,250,000 4.39%
16 Mrs. Arzuda Karim House # 2, Road # 18, Block # J, Banani, Dhaka Shareholder 4,250,000 4.39%
17 Shibu Ranjan Das House # 19/D, Dhanmondi, Dhaka - 1205 Shareholder 100,000 0.10%
18 Zereen Karim 153 Tajgaon I/A, Dhaka. Shareholder 4,000,000 4.13%
19 Nudrat S. Karim 153 Tajgaon I/A, Dhaka. Shareholder 1,000,000 1.03%
20 Md. Abdur Rahman 153 Tejgoan I/A, Dhaka. Shareholder 200,000 0.21%
21 Md. Sazed Karim 153 Tejgoan, I/A, Dhaka. Shareholder 200,000 0.21%
22 Anwar Ispat Limited Baitul Hossain Building (14th Floor),
27, Dilkusha C/A, Dhaka-1000.
Shareholder 4,000,000 4.13%
23 Tasren Mujib 172 Shaheed Belayet Road, P.O:-Dhaka
Cantonment, Dhaka-1206
Shareholder 830,000 0.86%
24 Farzana Rahman 2, Dilkusha C/A, Dhaka-1000. Shareholder 2,550,000 2.63%
25 Nurjahan G-25, Eastern Housing, North Banasree,
Goran, Dhaka.
Shareholder 2,000,000 2.06%
26 Howa Nur Begum Vill: Bahadurpur, P.O: Sujabad, P.S: Muladi,
Dist: Barisal.
Shareholder 1,900,000 1.96%
27 Bangladesh Shoes Industries Ltd. TCB Bhaban (1st Floor), Opposite of CEPZ,
Police Station- Bandartilla, Ctg.
Shareholder 2,500,000 2.58%
28 Global Max Packaging Industries Ltd. Plot No # A - 94, A - 95 & A - 96, BSCIC I/E,
Kalurhat (Extn.) Ctg.
Shareholder 3,000,000 3.10%
29 K. M Zahirul Quayum 61, West Tejturi Bazar, Tejgoan, Dhaka. Shareholder 100,000 0.10%
30 Farhana Zaman Haji Mostafa Market, Aracan Road, C & B
Square, Ctg.
Shareholder 150,000 0.15%
31 Md. Jamal Uddin Patwary Plot-41, 42, 56, 57, Road-1, BSCIC Industrial
Estate, Kalurghat, P.O: 4212, Chandgaon, Ctg.
Shareholder 140,000 0.14%
32 S. M Rafiqul Islam 212/C, North Goran, Khilgoan, Dhaka. Shareholder 100,000 0.10%
33 Sheikh Kabir Hossain 58/2 Lake Cercus, Kolabagan, Dhaka-1205. Shareholder 250,000 0.26%
34 Mohammad Fakhrul Alam Arani Bhaban (3rd Floor) 58/E, Mohakhali,
Banani Road -02, Gulshan, Dhaka.
Shareholder 300,000 0.31%
35 Mohammed Kamruzzaman 3/1 Chawk Circular Road, Dhaka-1211. Shareholder 1,000,000 1.03%
36 Md. Jahangir Alam South Torpurchandi, P.O –Babur Hat,
Chandpur Sadar, Chandpur-3602.
Shareholder 200,000 0.21%
37 Mst. Momena Alam 78/1, Monipuripara, Tejgoan, Dhaka. Shareholder 800,000 0.83%
38 M/s Knit Express Ltd. Plot-32/A, BSCIC Industrial Estate, Kalurghat,
Chittagong.
Shareholder 4,000,000 4.13%
39 Rafiqul Islam Haji, Mostafa Market, Aracan Road,
C& B Square, Ctg.
Shareholder 150,000 0.15%
40 Mohammed Mizanur Rahman Mazumder 100 Agrabad C/A, Chittagong. Shareholder 100,000 0.10%
41 Md. Mosharraf Uddin Khaled RF- Johora Tower, 1401, Sk Mujib Road,
Agrabad, Chittagong.
Shareholder 100,000 0.10%
Olympic Accessories Limited
Page | 40
42 M. Nurul Hossain 100 Agrabad C/A, Chittagong. Shareholder 100,000 0.10%
43 Zakir Hossain 100 Agrabad C/A, Chittagong. Shareholder 100,000 0.10%
44 Md. Rabiul Hossain 100 Agrabad C/A, Chittagong. Shareholder 100,000 0.10%
45 Mohmmed Mominur Rahman 100 Agrabad C/A, Chittagong. Shareholder 100,000 0.10%
46 Md. Ekramul Ameen Sangu Gas Plant, Salimpur, Fouzderhat, Ctg. Shareholder 100,000 0.10%
47 Md. Majahar Uddin Bhuiyan 100 Agrabad C/A, Chittagong. Shareholder 100,000 0.10%
48 Mozemmel Bin Shafi 100 Agrabad C/A, Chittagong. Shareholder 100,000 0.10%
49 N. M Asaduzzaman 652, Baro Moghbazar, Dhaka. Shareholder 200,000 0.21%
50 Shahriar Dastgir House-35, Road-5, Shamoly, Dhaka. Shareholder 450,000 0.46%
51 A.B.M Tanvir Hossain PBL Tower (13th Floor), Gulshan-2, Dhaka- 1212 Shareholder 200,000 0.21%
52 Md. Foysal Ahamed 186 Tejgaon, Dhaka. Shareholder 200,000 0.21%
53 Ruhul Kuddus Saikat Flat # 5A, House # 33, Road # 3, Block-D,
Banasree, Rampura, Dhaka.
Shareholder 200,000 0.21%
54 Shafiul Azam 97, Rasulpur, Dania, Jatrabari, Dhaka Shareholder 200,000 0.21%
55 Md. Mofaggel Hossain House-1026, Flat-198, Middle Badda,
Gulshan, Dhaka-1212.
Shareholder 100,000 0.10%
56 Md. Sazzad Hossain Flat-64, East Bashaboo. Dhaka- 1219. Shareholder 100,000 0.10%
57 Laila Arju Mond Banu 38 Krishno Kathi, Jhalakathi Sadar, Jhalakathi. Shareholder 50,000 0.05%
58 Md. Ruhul Amin Molla House- 41/A, 41/2, Flat- 11-B, Road- Jigatola,
Dhanmondi, Dhaka- 1209.
Shareholder 400,000 0.41%
59 Md. Rustum Ali Howladar Vill- Surjapasa East Middle, PO- Nolchati,
Dist- Jhalokati.
Shareholder 40,000 0.04%
60 Md. Fazlul Haque Vill- Surjapasa East Middle, PO- Nolchati,
Dist- Jhalokati.
Shareholder 40,000 0.04%
61 Nasrin Akter Equity Starlit, SS Khaled Road, PO- Dampara,
Kotowali, Chittagong.
Shareholder 40,000 0.04%
62 Md. Habibullah House- 208, Road- Wapda, West Rampura,
Khilgaon, Dhaka- 1219.
Shareholder 50,000 0.05%
63 Md. Zafran Tareque Chowdhury 17A/A, Mazar Road, 2nd Colony, Mirpur-1,
Dhaka.
Shareholder 20,000 0.02%
64 Md. Mohiuddin Mollah Hous-54, Block-D, Road-8, Niketon, Gulshan-
1212.
Shareholder 20,000 0.02%
65 Md. Mizanur Rahman House: BMA, Road: BMA Vatiary, P.O Vatialy-
4315, Shitakund, Ctg.
Shareholder 50,000 0.05%
66 Mr. Mohammad Yahia House: 36, Road-5, Bonosree-Block B,
P.O: Khilgaon-1219, Dhaka.
Shareholder 50,000 0.05%
67 Manjurul Alam Bhuiyan House No: 58/4, Road No-Free School Street,
Dhanmondi, Dhaka-1205.
Shareholder 200,000 0.21%
68 Md. Suruzzaman Robin House-127, Road-10, Block-C, Niketon,
Gulshan-1, Dhaka.
Shareholder 20,000 0.02%
69 Md. Kamal Uddin Patwary House of Air Mohammad, Abidarpara Road,
Bander, Ctg.
Shareholder 10,000 0.01%
70 Al Haj Md. Ramzan Hossain Flat-8, 109/1, Circuit House Road, Kakrail,
Dhaka-1000.
Shareholder 500,000 0.52%
Total 96,910,000 100%
Olympic Accessories Limited
Page | 41
(2) Securities Owned by each Director:
SL. Name of Directors Position No. of Shares held
% of
Holding
1 Md. Golam Kibria Managing Director 10,000,000 10.32%
2 Mrs. Farida Akhter Chairman 6,000,000 6.19%
3
Md. Golam Sorowar
(Nominee Director of Navana Poly Packaging Ltd.) Director 10,000,000 10.32%
4
Md. Golam Moula Majumder
(Nominee Director of Bay Poly & Packaging Ltd.)
Director 5,000,000 5.16%
5
Rifat Bin Kibria
(Nominee Director of Riverside Apparels Ltd.)
Director 5,000,000 5.16%
Total 36,000,000 37.15%
(3) List of Sponsors/Directors and/or Shareholders who hold 5% or more shares of the Company:
SL Name Position No. of Shares held
% of
Holding
1. Md. Golam Kibria Managing Director 10,000,000 10.32%
2. Mrs. Farida Akhter Chairman 6,000,000 6.19%
3 Md. Golam Sorowar
(Nominee Director of Navana Poly Packaging Ltd.) Director 10,000,000 10.32%
4 Md. Golam Moula Majumder
(Nominee Director of Bay Poly & Packaging Ltd.) Director 5,000,000 5.16%
5 Rifat Bin Kibria
(Nominee Director of Riverside Apparels Ltd.) Director 5,000,000 5.16%
Except for those shown in the above list, no directors or shareholders individually hold 5% or more shares
of the Company’s paid up capital.
(4) Securities owned by the Officers of the Company:
There is no officer holding any securities of the Company except Mrs. Farida Akhter (Chairman),
Md. Golam Kibria (Managing Director), Md. Habibullah (Company Secretary), Md. Zafran Tareque
Chowdhury (Chief Financial Officer) and Md. Mohiuddin Mollah (Manager, Accounts & Finance).
(5) Post IPO Shareholding by the Sponsors/Directors:
Details No of Shares Amount (Tk.)
Post IPO Share Capital 116,910,000 1,169,100,000
SL. Name Position
No. of Shares
Held
% of
Holdings
1 Md. Golam Kibria Managing Director 10,000,000 8.55%
2 Mrs. Farida Akhter Chairman 6,000,000 5.13%
3 Md. Golam Sorowar
(Nominee Director of Navana Poly Packaging Ltd.) Director 10,000,000 8.55%
4 Md. Golam Moula Majumder
(Nominee Director of Bay Poly & Packaging Ltd.) Director 5,000,000 4.28%
5 Rifat Bin Kibria
(Nominee Director of Riverside Apparels Ltd.) Director 5,000,000 4.28%
Total 36,000,000 30.79%
NB: Post IPO capital structure of the Sponsors/Directors complies with the requirements as imposed by
the Bangladesh Securities and Exchange Commission vide Notification No. SEC/CMRRCD/2009-
193/119/Admin/34, dated November 22, 2011.
Olympic Accessories Limited
Page | 42
PART XV: DETERMINATION OF OFFERING PRICE
The issue price at Tk. 10.00 each at par is justified as details below:
Particulars Amount (in Tk.)
Method 1: Net Asset Value (NAV) per share/Equity based value per share
a: Price based on Net Asset Value per share 16.34
b: Price based on Net Asset Value per Share considering foreign exchange gain/loss 16.39
Method 2: Historical Earnings based value per share
2: Earnings based Value per share based on Overall Market P/E 18.68
Average of Net Asset Value (NAV) per share/Equity based value per share and
Historical Earnings based value per share 17.51
Calculation of Methodologies:
Method 1: Share price on Net Asset Value (NAV)/Equity based value per share:
a: Price based on Net Asset Value per share/Equity based Value:
Sl. No. Particulars Amount
a) Share Capital 969,100,000
b) Retained Earnings 614,369,312
Total Shareholders' Equity 1,583,469,312
Number of Shares 96,910,000
Net Asset Value per share as per Audited Report as on 30 June, 2014 16.34
2: Price based on Net Asset Value per Share considering foreign exchange gain/loss:
Net Asset Value Before charging Marked to Market 1,583,469,312
Marked to Market (Gain/(Loss) 4,462,731
1,587,932,043
Net Asset Value per share considering foreign exchange gain/loss: 16.39
Method 2: Historical Earnings based value per share:
Average Price Earnings of Market & Sectoral:
Month Sectoral Market
Dec-14 13.20 17.77
Nov-14 12.58 17.17
Oct-14 13.98 18.91
Average 13.25 17.95
Considering Lesser P/E of 13.25 & 17.95 is 13.25
Source: DSE Monthly Review.
Olympic Accessories Limited
Page | 43
Period No. of Share Net Profit after tax Weight of No.
of Shares
Weighted Average of
Net Profit after tax
30-Jun-10 1,260,000 55,550,763 0.01 686,552
30-Jun-11 1,260,000 74,882,410 0.01 925,472
30-Jun-12 1,260,000 117,004,848 0.01 1,446,063
30-Jun-13 1,260,000 133,820,446 0.01 1,653,887
30-Jun-14 96,910,000 138,725,348 0.95 131,867,322
Total 101,950,000 519,983,815 1.00 136,579,295
No. of shares outstanding before IPO 96,910,000
Diluted EPS based on weighted Average of Net Profit after Tax 1.41
3 Months average P/E (Lesser of 13.25 & 17.95) 13.25
Earnings based Value per share based on overall Market P/E 18.68
Therefore, the management of the company believes that the offering price of Tk. 10.00 per share is
justified.
PART XVI: MARKET FOR THE SECURITIES BEING OFFERED
The Issuer shall apply to the following Stock Exchanges in Bangladesh for listing shares within 7 (seven)
working days from the date of consent accorded by the Commission to issue the prospectus:
Dhaka Stock Exchange Limited (DSE)
9/F Motijheel C/A, Dhaka‐1000.
Chittagong Stock Exchange Limited (CSE)
CSE Building, 1080 Sheikh Mujib Road, Chittagong.
PART XVII: DESCRIPTION OF SECURITIES OUTSTANDING OR BEING OFFERED
(1) Dividend, voting, pre-emption rights:
In case of any declaration of cash/stock dividend by the Company or distribution of any property of
the Company, all the shareholders shall be entitled to it in proportion to their shareholdings on the
date of the book closure or record date for the purpose. The Company will follow a dividend policy,
which will allow it to provide a fair return on its shareholders’ investment and simultaneously allow
for building up of the retained earnings and reserves as a rule that would sustain growth of the
Company.
The share capital of the Company is divided into Ordinary Shares, carrying equal rights to vote and
receive dividend in terms of the relevant provisions of the Companies Act 1994 and the Articles of
Association of the Company. All shareholders shall have the usual voting right in person or by proxy
in connection with, among others, election of Directors and Auditor(s) and other usual agenda of
General Meeting – Ordinary or Extra Ordinary. On a show of hand, every shareholder present in
person and every duly authorized representative of a shareholder present at a General Meeting shall
have one vote and on a poll every shareholder present in person or by proxy shall have one vote for
every share held by him or her.
In case of any additional issue of shares for raising further capital the existing shareholders shall be
entitled to Rights Issue of shares in terms of the guidelines issued by the Bangladesh Securities and
Exchange Commission from time to time.
Olympic Accessories Limited
Page | 44
(2) Conversion and liquidation rights:
The Company in its General Meeting may convert paid-up shares to any denomination. No special
preferences or privileges shall be attached to this conversion.
If the Company at any time issues Preference Shares or Debentures or Bonds with the consent of
BSEC, such holders of securities shall be entitled to convert such securities into ordinary shares if it is
so determined by the Company.
In case of winding- up or liquidation of the Company, all shareholders have the same privileges and
advantages as ordinary shareholder as regards participation in profits and voting at meetings of the
Company.
(3) Right for Transfer:
In terms of the provisions of the Companies Act 1994, Articles of Association of the Company and
other relevant rules in force, the shares of the Company are transferable. The Company shall not
charge any fee other than Government duties for registering transfer of shares. No shares shall be
transferred to an infant or a person of unsound mind.
(4) Dividend policy:
(a) The profits of the Company, subject to any special right relating thereto created or authorized to
be created by the Memorandum of Association and subject to the provision of the Articles of
Association, shall be divisible among the members in proportion to the amount of capital paid -
up on the shares held by them respectively.
(b) No larger dividend shall be declared than is recommended by the directors, but the Company in
its General meeting may declare a smaller dividend.
(c) The declaration of directors as to the amount of net profit of the company shall be conclusive.
(d) No dividends shall be paid otherwise than out of the profits of the year or any other
undistributed profits and general reserves. Dividend shall not carry interest as against the
Company.
(e) The Directors may from time to time pay off the members such interim dividend as appear to the
Directors to be justified by the profits of the Company.
(f) A transfer of shares shall not pass the right to any dividend declared thereon after such transfer
and before the registration of the transfer.
(g) There is no limitation on the payment of dividends to the common Stockholders.
(5) Other rights of Stockholders:
The shareholders shall have the right to receive all periodic reports and statements, audited as well as
unaudited, published by the Company from time to time. The directors shall present the financial
statements as required under the law and international Accounting Standards and International
Financial Reporting Standards as adopted by the Institute of Chartered Accountants of Bangladesh.
Financial statements will be prepared in accordance with International Financial
Reporting/Accounting Standards, consistently applied throughout the subsequent periods and
present with the objective of providing maximum disclosure as per law and international Financial
Reporting/Accounting Standard to the shareholders regarding the Financial and operational position
of the Company.
In case of any declaration of stock dividend through issue of Bonus Shares, all shareholders shall be
entitled to it in proportion to their shareholdings on the date of book closure or record date for the
purpose.
The shareholders holding not less than 10% of the issued/fully paid up capital of the Company shall
have the right to requisition Extra-Ordinary General Meeting (EGM) of the Company as provided
under Section 84 of the Companies Act, 1994.
PART XVIII: DEBT SECURITIES
The Company has not issued or is planning to issue any debt security within six months.
Olympic Accessories Limited
Page | 45
PART XIX: INDEPENDENT AUDITORS' REPORT AND RELATED CERTIFICATES
AUDITORS’ REPORT
TO THE SHAREHOLDER OF OLYMPIC ACCESSORIES LIMITED
We have audited the accompanying financial statements of OLYMPIC ACCESSORIES LIMITED which
comprises the Statement of financial position as at 30 June 2014 along with Statement of Comprehensive
Income, Statement of Changes in equity and Statement of Cash Flows for the year then ended, and a
summary of significant accounting policies and other explanatory notes.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with Bangladesh Financial Reporting Standards. This responsibility includes: designing,
implementing and maintaining internal control relevant to the preparation and fair presentation of
financial statements that are free from material misstatement, whether due to fraud or error; selecting
and applying appropriate accounting policies; and making accounting estimates that are reasonable in
the circumstances.
Auditors’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with Bangladesh Standards on Auditing, those standards require that
we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance
whether the financial statements are free from material misstatement. An audit involves performing
procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The
procedures selected depend on the auditor’s judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the entity’s preparation and fair
presentation of the financial statements in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s
internal control. An audit also includes evaluating the appropriateness of accounting policies used and
the reasonableness of accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements give a true and fair view of the financial position of OLYMPIC
ACCESSORIES LIMITED as of June 30, 2014 and of its financial performance for the year then ended in
accordance with Bangladesh Financial Reporting Standards and comply with the Companies Act 1994,
Securities and Exchange Rules 1987 and other applicable laws and regulations.
We also report on other legal and regulatory requirements
We also report that;
a) we have obtained all the information and explanations which to the best of our knowledge and belief
were necessary for the purpose of our audit and made due verification thereof;
b) in our opinion proper books of account as required by law have been kept by the company so far as
it appeared from our examination of those books;
c) the company’s Statement of financial position, statement of comprehensive income, Statement of
Changes in equity and Statement of Cash Flows dealt with by the report are in agreement with the
books of accounts;
d) the expenditures incurred were for the purpose of the Company’s business.
Sd/-
Dated: September 08, 2014 Ahmed Zaker & Co.
Dhaka Chartered Accountants
Olympic Accessories Limited
Page | 46
Olympic Accessories Limited
Statement of Financial Position
As at June 30 , 2014
Particulars Notes Amount in Taka
30-06-2014 30-06-2013
ASSETS
A : Non Current Assets 881,461,240 817,227,651
Property, Plant & Equipment 3 852,521,716 817,227,651
Capital Work in Progress 4 28,939,524 -
.
B : Current Assets 853,324,198 694,872,724
Inventories
5
315,074,791
247,647,011
Trade and other receivables
6
411,141,163
361,971,626
Advance, Deposits and Prepayments
7
121,152,229
79,930,497
Cash and Cash Equivalents
8
5,956,015
5,323,590
Total Assets (A+B) 1,734,785,438 1,512,100,375
EQUITY AND LIABILITIES
C : Shareholder's Equity 1,583,469,312 1,210,687,184
Share Capital 9 969,100,000 12,600,000
Share Money Deposit 10 - 722,443,220
Retained Earnings 614,369,312 475,643,964
D : Non-Current Liabilities 35,757,906 177,546,226
Long Term Loan 11 - 153,120,546
Deferred Tax 35,757,906 24,425,680
E : Current Liabilities
115,558,220
123,866,965
Short Term Borrowings
12
87,972,107
103,290,228
Creditors & Accrues
13
27,586,113
20,576,737
Total Liabilities (D+E) 151,316,126 301,413,191
Total Equity and Liabilities (C+D+E)
1,734,785,438
1,512,100,375
Net Assets Value per Share (NAV) 16. 34 3,87 4.95
The annexed notes are (1-24) form an integral part of these financial statements.
Approved by the board of Directors on September 08, 2014
Sd/- Sd/- Sd/-
Chairman Managing Director Chief Financial Officer
Signed as per our separate report on same date
Sd/-
Dated: September 08, 2014 Ahmed Zaker & Co.
Dhaka Chartered Accountants
Olympic Accessories Limited
Page | 47
Olympic Accessories Limited
Statement of Comprehensive Income
For the year ended 30 June 2014
Particulars Notes
Amount in Taka
30-06-2014
30-06-2013
(A) Turn Over
14
1,403,179,268
1,231,471,004
(B) Cost of goods sold
15
1,097,416,206
964,306,919
(C) Gross Profit (A-B)
305,763,062
267,164,085
(D) Operating Expenses
70,469,197
46,986,387
Administrative Expenses
16
31,642,462
20,505,069
Selling & Distribution Expenses
17
38,826,735
26,481,318
(E) Profit from Operation (C-D)
235,293,865
220,177,698
(F)Financial Expenses
20
66,359,730
69,085,836
(G) Net Profit Before Tax & WPPF (E-F)
168,934,135
151,091,862
(H) Contribution to WPPF
21
8,044,483
-
Profit before Income Tax
160,889,652
151,091,862
Less: Provision for taxation
22
10,832,078
9,616,861
Less: Deferred Tax Expenses
23
11,332,226
7,654,555
Total Comprehensive Income for the Year
138,725,348
133,820,446
Basic Earnings per Share (EPS)
24
22.62
1062.07
Earnings per Share (Restated)
22.62
21.82
The annexed notes are (1-24) form an integral part of these financial statements.
Approved by the board of Directors on September 08, 2014
Sd/- Sd/- Sd/-
Chairman Managing Director Chief Financial Officer
Signed as per our separate report on same date
Sd/-
Dated: September 08, 2014 Ahmed Zaker & Co.
Dhaka Chartered Accountants
Olympic Accessories Limited
Page | 48
Olympic Accessories Limited
Statement of Changes in Equity
For the year ended 30 June 2014
Particulars Ordinary
Share Capital
Retained
Earnings
Share Money
Deposit Total
Balance as on July 01, 2013 12,600,000 475,643,964 722,443,220 1,210,687,184
Addition during the year - - 234,056,780 234,056,780
Conversion to Share Capital 956,500,000 - (956,500,000) -
Net Profit During the Year - 138,725,348 - 138,725,348
Balance as on June 30, 2014 969,100,000 614,369,312 - 1,583,469,312
Olympic Accessories Limited
Statement of Changes in Equity
For the year ended 30 June 2013
Particulars Ordinary
Share Capital
Retained
Earnings
Share Money
Deposit Total
Balance as on July 01, 2012 12,600,000 358,594,643 621,137,821 992,332,464
Adjustment of Deferred Tax - (16,771,125) - (16,771,125)
Addition during the year - - 101,305,399 101,305,399
Net Profit During the Year - 133,820,446 - 133,820,446
Balance as on June 30, 2013 12,600,000 475,643,964 722,443,220 1,210,687,184
The annexed notes are (1-24) form an integral part of these financial statements.
Approved by the board of Directors on September 08, 2014
Sd/- Sd/- Sd/-
Chairman Managing Director Chief Financial Officer
Signed as per our separate report on same date
Sd/-
Dated: September 08, 2014 Ahmed Zaker & Co.
Dhaka Chartered Accountants
Olympic Accessories Limited
Page | 49
Olympic Accessories Limited
Statement of Cash Flows
For the year ended 30 June 2014
Particulars
Amount in Taka Amount in Taka
30-06-2014 30-06-2013
Cash Flows from Operating Activities:
Receipts from Customers and others 1,354,009,731 1,201,051,419
Payment to Suppliers and Employees (1,176,513,701) (1,005,987,912)
Cash generated from Operations 177,496,030 195,063,507
Interest paid (66,359,730) (69,085,836)
Income Tax paid (10,832,078) (9,616,861)
Net Cash Generated from Operating activities 100,304,222 116,360,810
Cash Flows from Investing Activities:
Acquisition of Property, Plant and Equipment (47,850,386) (188,347,420)
Capital Work in Progress (28,939,524) -
Advance against Land purchase (88,500,000) -
Net Cash Used in Investing activities (165,289,910) (188,347,420)
Cash Flows from Financing Activities:
Net Increase in share capital 234,056,780 -
Net Increase in Short term loan from bank (15,318,121) 17,579,757
Net Decrease in Long term loan from bank (153,120,546) (57,442,328)
Net Decrease in Share money deposit - 101,305,399
Net Cash Generated from Financing Activities 65,618,113 61,442,828
Increase in Cash and Cash Equivalents 632,425 (10,543,782)
Cash and Cash Equivalents at Beginning of Year 5,323,590 15,867,372
Cash and Cash Equivalents at End of Year 5,956,015 5,323,590
The annexed notes are (1-24) form an integral part of these financial statements.
Approved by the board of Directors on September 08, 2014
Sd/- Sd/- Sd/-
Chairman Managing Director Chief Financial Officer
Signed as per our separate report on same date
Sd/-
Dated: September 08, 2014 Ahmed Zaker & Co.
Dhaka Chartered Accountants
Olympic Accessories Limited
Page | 50
Olympic Accessories Limited
Notes to the Financial Statements
For the year ended on 30 June 2014
1. SIGNIFICANT ACCOUNTING POLICIES AND OTHER MATERIAL INFORMATION:
1.01 Legal form of the Enterprise:
The company namely Olympic Accessories Limited (hereinafter referred to as "the company") was
incorporated on 28 May, 2003 vide registration no.C‐49349 (1333)/2003 as a private limited company in
Bangladesh under the Companies Act 1994. Subsequently the company converted into Public limited
company.
1.02 Registered Office of the Company:
The registered office of the Company is located at House # 54, Road # 8, Block D, Niketon, Gulshan 1,
Dhaka 1212, Bangladesh.
Production unit of the company is situated at Bishia Kuribari, Rajendrapur in Gazipur.
1.03 Principal activities and nature of the business:
The principal activities of the company are to carry on the business of manufacturing, processing,
printing, cutting, sealing and assembling of all kinds of Sticker, Photo inlay, Bar code, Hangtag, Hanger,
Carton, Elastic, Twill tape, Back board, Tissue paper, Gum tape, Interlining, Label, Poly Bag, Thread etc.
2. SIGNIFICANT ACCOUNTING POLICIES:
Basis of Preparation of Financial Statements
The Financial Statements of the Company are prepared on a going concern basis under historical cost
convention and in accordance with the Bangladesh Accounting Standards (BAS) and Bangladesh Financial
Reporting Standards (BFRSs), the Companies Act 1994, Securities Exchange Rules, 1987 and other
applicable laws & regulation in Bangladesh.
2.01. Going Concern:
This financial statement has been prepared on the assumption that the entity is a going concern and will
continue its business for the foreseeable future. Hence, it is assumed that the entity has neither the
intention nor the need to liquidate or curtail materially the scale of its operation.
The company has adequate resources to continue its operation for the foreseeable future. As such, the
directors intended to adopt the going concern basis is preparing the financial statements. The current
credit facilities and resources of the company provides sufficient fund to meet the present requirements
of its existing business.
Olympic Accessories Limited
Page | 51
2.02 Changes in Accounting Policies & Estimates:
The preparation of these financial statements is in conformity with BASs/BFRSs which require
management to make judgments, estimates and assumptions that affect the application of accounting
policies and the reported amounts of assets, liabilities, income and expenses. Estimates and underlying
assumptions are reviewed on an ongoing basis and used for accounting of certain terms such as
provision for expenses and depreciation. The Company has changed its accounting policies previously as
per BAS -8.
2.03 Corporate Accounting Standards Practiced:
The following BAS is applicable to the financial statements for the year under review:
BAS 1 Presentation of Financial Statements
BAS 2 Inventories
BAS 7 Statement of Cash Flows
BAS 10 Events after the Reporting Period
BAS 12 Income Taxes
BAS 16 Properties, Plant and Equipment
BAS 18 Revenue
BAS 19 Employee Benefits
BAS 23 Borrowing Costs
BAS 33 Earnings per Share
BAS 37 Provisions, Contingent Liabilities and Contingent Assets
2.04 Cash Flow Statement:
Cash flow statement is prepared in accordance with BAS-7 "Statement of Cash Flows" and the cash flow
from the operating activities have been presented under direct method considering the provisions of
Paragraph 19 of BAS-7 which provides that "Enterprises are Encouraged to Report Cash Flow From
Operating Activities Using the Direct Method".
2.05 Fixed Assets and Depreciation:
All fixed assets are stated at cost less accumulated depreciation as per BAS-16 “Property, Plant and
Equipment”. The cost of acquisition of an asset comprises of its purchase price and any directly
attributable cost of bringing the asset to its working condition for its intended use inclusive of inward
freight, duties and non- refundable taxes.
The company recognizes in the carrying amount of an item of property, plant and equipment the cost of
replacing part of such an item when that cost is incurred if it is probable that the future economic benefit
embodied with the item will flow to and the cost of the item can be measured reliably. Expenditure
incurred after the assets have been put into operation, such as repairs and maintenance is normally
charged off as revenue expenditure in the period in which it is incurred.
Depreciation has been charged on fixed assets under reducing balance method and six months
depreciation has been charged on addition of assets during the period under audit.
Olympic Accessories Limited
Page | 52
The annual rates of depreciation applicable to the principal categories of fixed assets are:
Kind of assets Rate of Depreciation
a) Land & Developments 0%
b) Factory Building 2.5%
c) Plant & Machinery 10%
f) Electrical Installation & Equipment 10%
g) Generator 10%
h) Vehicles 20%
j) Furniture & Fixture 10%
k) Office Equipment 20%
l) Fire Equipment 10%
2.06 Revenue Recognition:
In compliance with the requirements of BAS - 18 Revenue, revenue from receipts from customers against
sales is recognized when products are dispatched to customers, that is, when the significant risk and
rewards of ownership have been transferred to the buyer, recovery of the consideration is probable, the
associated costs and possible return of goods can be estimated reliably.
2.07 Impairment:
In accordance with the provision of "BAS-36” Impairment of Assets the carrying amount of non financial
assets other than inventories are reviewed to determine whether there is any indication of impairment.
No such indication of impairment has raised till the date of our audit.
2.08 Valuation of Current Assets:
Accounts Receivable:
These are carried forward at their original invoiced value amount and represents net realizable value.
Management considered the entire bills receivable as good and is collectable and therefore, no amount
was provided for as bad debt in the current period’s account.
Inventories:
In compliance with the requirements of BAS-2 "Inventories" & with Schedule XI Part-II of the Companies
Act, 1994, the Inventories have been valued at Cost or Net Realizable value whichever is lower, which is
consistent with the previous period’s practice. Net realizable value is based on estimated selling price in
the ordinary course of business less any further cost expected to be incurred to make the sale.
Olympic Accessories Limited
Page | 53
2.09 Employee Benefit Plan:
The company maintains defined benefit plan for its eligible permanent employees. The eligibility is
determined according to the terms and conditions set forth in the respective deeds.
The company has accounted for and disclosed employee benefits in compliance with the provisions of
BAS 19: Employee Benefits.
The cost of employee benefit is charged off as revenue expenditure in the period to which the
contributions relate.
The company’s employee benefits include the following:
a) Short Term Employee Benefits
Short-term employee benefits include salaries, bonuses etc. Obligations for such benefits are measured
on an undiscounted basis and are expensed as the related service is provided.
b) Contribution to Workers Profit Participation and Welfare Fund
This represents 5% of net profit before tax contributed by the company as per provision of the
Bangladesh Labor (Amendment), Act 2013 and is payable to workers as defined in the said law.
2.10 Liabilities & basis of their valuation
2.10.1. Accrued Expenses and Other Payables
Liabilities are recognized for the goods and services received, whether paid or not. Other Payables are not
interest bearing and are stated at their nominal value.
2.10.2. Provisions
In accordance with the guidelines as prescribed by BAS‐37: Provisions, Contingent Liabilities and
Contingent Assets are recognized in the following situations:
a) when the company has an obligation (legal or constructive) as a result of past events;
b) when it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation; and
c) reliable estimates can be made of the amount of the obligation.
2.11 Borrowing Costs
Financial Expenses (Borrowing Costs) incurred during the year was recognized as revenue expenses in
accordance with BAS‐23 “Borrowing Cost”.
Olympic Accessories Limited
Page | 54
2.12. Related Party Disclosures
The Company in normal course of business carried out a number of transactions with other entities and
Directors that fall within the definition of related party contained in Bangladesh Accounting Standard 24:
Related Party Disclosures.
Particulars Type of Transaction Amount in Taka
Md. Golam Kibria Remuneration 390,000
Mrs. Farida Akhter Remuneration 330,000
Md. Golam Kibria Investment in Share 100,000,000
Mrs. Farida Akhter Investment in Share 60,000,000
Navana Poly Packaging Ltd. Investment in Share 100,000,000
M/s Bay Poly & Packaging Ltd. Investment in Share 50,000,000
M/s Riverside Apparels Limited Investment in Share 50,000,000
2.13. Events after the Reporting Period
In compliance with the requirements of BAS 10: Events After the reporting period that provide additional
information about the company's position at the date of the financial position; are reflected in the
financial statements and events after the reporting period that are not adjusting events are disclosed in
the notes when material.
The Board of Directors proposed to increase share capital from capital market through IPO by issuance of
20,000,000 shares @ Tk. 10 each face value subject to approval of Regulation Authorities.
2.14 Income Tax
2.14.1 Current tax
As per Section 53BB of Income Tax Ordinance 1984, tax has been deducted at source from export
proceeds @ 0.80% and the deduction amount is treated as the final settlement as final discharge of
income tax liability of the company under the provision of section 82(C) vide SRO No. 217-Law/Income
Tax/2012, dated June 27, 2012.
2.14.2 Deferred tax
Deferred tax arises due to temporary difference deductible or taxable for the events or transaction which
is recognized in the statement of comprehensive income. A temporary difference is the difference
between the tax base of an asset or liability and its carrying amount / reported amount in the statement
of financial position. Deferred tax assets or liability is the amount of income tax recoverable or payable in
the future periods recognized in the current year as per BAS 12: Income Tax. Deferred Tax impact has
been provided during the year.
2.15. Earnings per Share
This has been calculated in compliance with the requirements of BAS 33: Earnings per Share by dividing
the basic earnings by the weighted average number of ordinary shares outstanding during the year.
Olympic Accessories Limited
Page | 55
2.15.1. Basic Earnings
This represents earnings for the period attributable to ordinary shareholders. As there was no preference
dividend, minority interest or extra ordinary items, the net profit after tax for the year has been
considered as fully attributable to the ordinary shareholders.
2.15.2. Weighted Average Number of Ordinary Shares Outstanding during the year
The basis of computation of number of shares is in line with the provisions of IAS‐33: Earnings per Share.
Therefore, the total number of shares outstanding at the end of the year multiplied by a time weighting
factor which is the number of days the specific shares were outstanding as a proportion of total number
of days in the period.
Additional Information on Financial Statements:
2.16 Responsibility for preparation and presentation of financial statements:
The company’s management and the Board of Directors are responsible for the preparation and
presentation of Financial Statements as per section 183 of the companies Act, 1994.
2.17 Authorization date for issuing Financial Statements:
The financial statements were authorized by the Board of Directors on September 08, 2014.
2.18 Components of the Financial Statements:
According to IAS –1 “presentation of the Financial Statements” the complete set of financial statement
includes the following components
a) Statement of Financial Position as at June 30, 2014.
b) Statement of Comprehensive Income for the year ended June 30, 2014.
c) Statement of Changes in Equity for the year ended June 30, 2014.
d) Statement of Cash Flows for the year ended June 30, 2014.
e) Explanatory notes to the financial statements.
2.19 Comparative:
Comparative information have been disclosed in respect of the previous year for all numerical
information in the financial statements except for Cash Flow Statement and also the narrative and
descriptive information when it is relevant for understanding of the current year’s financial statements.
Previous year figure has been re-arranged whenever considered necessary to ensure comparability with
the current year presentation as per BAS-8 “Accounting Policies, Changes in Accounting Estimates and
Errors”.
2.20 General:
i) The figure has been rounded off to the nearest taka.
ii) The financial Statements have been prepared covering one year from July 01, 2013 to June 30, 2014.
Olympic Accessories Limited
Page | 56
Amount in Taka
30.06.2014 30.06.2013
3.00 Property Plant and Equipment :Tk. 852,521,716
This is made up as follows:
Particulars
Opening Balance as at 01.07.2013 1,050,571,826
862,224,406
Addition During the year 107,709,830
188,347,420
Total Assets Value at cost 1,158,281,656 1,050,571,826
Accumulated Depreciation as at 01.07.2013 (233,344,175)
(166,234,476)
Current year Deprecation (72,415,764)
(67,109,699)
Written Down Value as at 30.06.2014 852,521,716 817,227,651
4.00 Capital Work in Progress : Tk. 28,939,524
This is made up as follows: Particulars
Capital Work in Progress 28,939,524
-
Total 28,939,524 -
The Balance is representing the cost of factory building under construction. When it will be fully constructed
and available for use, it will be transferred to Property, Plant and Equipment as per BAS 16.
5.00 Inventories : Tk. 315,074,791
This is made up as follows:
Particulars
Raw Materials 15.01 284,211,471
222,481,839
Work in process 15.00 12,485,640
10,254,160
Finished Goods 15.00 14,807,457 11,465,876
Store Items 15.02 3,570,223
3,445,136
Total: 315,074,791 247,647,011
6.00 Trade and other receivables : Tk. 411,141,163
The amount of receivable is against export bills as on Jun e 30, 2014. This is considered as good
& realizable and is secured by export letter of credit duly accepted by L/C opening bank.
Particulars
Bills Receivable 411,141,163 361,971,626
Total: 411,141,163
361,971,626
Ageing of Accounts Receivable
Due within 3 Months 268,745,632 245,934,880
Due within 3-6 Months
142,395,531
116,036,746
411,141,163
361,971,626
The classification of receivables as required by the Schedule XI of the Companies Act, 1994 are given below:
Particulars Amount in Taka
Receivables considered good in respect of which the company is fully secured. 411,141,163 361,971,626
Receivables considered good in respect of which the company holds no security other than
the debtor personal security. - -
Receivables considered doubtful or bad. - -
Receivables due by common management. - -
The maximum amount of receivable due by any director or other officer of the
company.
- -
Total 411,141,163 361,971,626
Olympic Accessories Limited
Page | 57
7.00 Advances, Deposits & Prepayments : Tk.121,152,229
.
This is made up a s follows:
Particulars
Advance& Prepayments
Advance to Employees
3,151,200
254,874
M/s.Helal Enterprise
70,265
125,487
M/s. Amex Engineering
142,158
42,158
M/s. China Plastic 576,900 23,480
Advance Against Land 7.01
88,500,000
59,859,444
Sundry Advances
353,731
552,058
Advance Income Tax 7.02
10,832,078
9,616,861
Deposits
L/C Margin
16,250,093
8,180,331
Security Deposits 7.03 1,275,804
1,275,804
Total: 121,152,229 79,930,497
7.01 Advance against Land Purchase : Tk.88,500,000
This is made up as follows:
Particulars
Advance for Land Purchase (Mirpur) 7.01.A 88,500,000
-
Advance for Land Purchase (Factory) 7.01.B -
59,859,444
Total 88,500,000 59,859,444
7.01.A This amount has been incurred for a Land purchase at Mirpur, Dhaka under registered Bayna
(Reg. No 2091) dated 24-03-2014.
7.01.B The company registered a factory land (190 decimal) during the year by Tk. 61,332,420 (Land
value including registration and other cost) for which Tk. 59,859,444 was paid as advance in the
previous years and the rest amount of Tk. 1,472,976 was paid during the year.
7.02 Advance Income Tax : Tk. 10,832,078
This is made up as follows:
Particulars
Income Tax deduction at source –Opening
9,616,861
6,274,745
Add: Tax deduction at source during the year 10,832,078
9,616,861
20,448,939 15,891,606
Less: Adjustment During the year
9,616,861
6,274,745
Total: Total: 10,832,078 9,616,861
7.03 Security Deposit : Tk. 1,275,804
This is made up as follows:
Particulars
Polly Bidyut Samity (PBS)- Electricity
1,275,804
1,275,804
Total: 1,275,804
1,275,804
-9
Olympic Accessories Limited
Page | 58
8.00 Cash and Cash Equivalent : Tk. 5,956,015
This is made up as follows:
Particulars
Cash in hand 1,929,823
1,592,047
Cash at Bank - Mercantile Bank Ltd. 57,155
1,999,880
Cash at Bank - EXIM Bank Ltd. 893,913
769,664
Cash at Bank -NCC Bank Ltd. 3,066,106
961,999
Cash at Bank -FSIBL 9,018
-
Total: Total: 5,956,015 5,323,590
The Bank balance are in agreement with respective bank statement balances.
9.00
Share Capital : Tk. 969,100,000
9.01
Authorized Share Capital : Tk. 1,550,000,000
155,000,000 ordinary shares of Taka 10/= each. 1,550,000,000
50,000,000
1,550,000,000 50,000,000
9.02
Issued, Subscribed, Called-up and Paid-up Share Capital : Tk. 969,100,000
96,910,000 ordinary shares of Tk. 10/= each fully paid-up 969,100,000 12,600,000
969,100,000 12,600,000
The shareholding position of the company are as under:
Names No. of shares % Amount in Tk
Md. Golam Kibria 10,000,000 10.32% 100,000,000
Mrs. Farida Akhter 6,000,000 6.19% 60,000,000
Navana Poly Packaging Ltd. 10,000,000 10.32% 100,000,000
M/s Bay Poly & Packaging Ltd. 5,000,000 5.16% 50,000,000
M/s Riverside Apparels Limited 5,000,000 5.16% 50,000,000
Other Shareholders 60,910,000 62.85% 609,100,000
Total 96,910,000 100.00% 969,100,000
10.00 Share Money Deposit : Tk. 0.00
The above balance is made up as follows:
Particulars
Share Money deposit in Exim Bank Limited -
570,229,620
Share Money deposit in Mercantile Bank Limited - 152,213,600
Total: - 722,443,220
11.00 Long Term Loan : Tk. 0.00
This is made up as follows:
Particulars
Long Term Loan (Mercantile Bank Ltd.) -
153,120,546
Total: - 153,120,546
Olympic Accessories Limited
Page | 59
12.00 Short Term Borrowings : Tk. 87,972,107
This is made up as follows:
Particulars
Bai Muajjal (CC Hypo) 13,580,000
30,108,000
Mercantile Bank Ltd # CC A/C NO:1119 20,439,796
9,641,219
Trust Receipt 53,952,311 63,541,009
Mercantile Bank Ltd. (Naya Bazar Branch) 43,836,931 33,568,263
EXIM Bank Ltd. (Imamgonj Branch) 10,115,380
29,972,746
Total: 87,972,107 103,290,228
13.00 Creditors & Accrues : TK. 27,586,113
This is made up as follows:
Particulars
Utilities bills payable 205,380
165,780
Rent 54,500
296,400
Salary & Wages 6,534,250
6,226,380
Sundry Creditors 13.01 1,627,921
3,983,816
Income Tax Payable 13.02 10,832,079 9,616,861
WPPF 8,044,483
-
Audit and Professional Fees 287,500 287,500
Total: 27,586,113 20,576,737
13.01 Sundry Creditors : Tk. 1,627,921
This is made up as follows:
Particulars
M/s. Abid Electronics House - 52,488
M/s. New Boilar Museum 317,542 252,398
M/s.Suzuki Electronics - 245,186
M/s. Habib Engineering Works. - 6,523
M/s.Jaman Hardware store - 65,234
M/s. Manikgonj paper &Stationery - 137,866
M/s.Soudia Electric Co 146,873 366,590
M/s.Prime Electronics 165,496 -
M/s. Mala V Puli Goar - 452,156
M/s. AB Traders - 84,576
M/s. Star Machinery & Co. - 245,189
M/s. Swades Electronics - 548,703
M/s.Jakir Screw House 633,120 874,510
M/s. Nishat Traders. 43,600 -
M/s.Fahim Enterprise 321,290 652,397
Total: 1,627,921 3,983,816
13.02 Income Tax Payable : Tk. 10,832,079
This is made up as follows:
Particulars
Income Tax Payable -Opening 9,616,861 6,274,745
Add: Charge for the year 10,832,078 9,616,861
20,448,940
15,891,606
Less: Adjustment During the year 9,616,861 6,274,745
Total: 10,832,079 9,616,861
Olympic Accessories Limited
Page | 60
14.00 Turnover : Tk. 1,403,179,268
This is made up as follows:
Particulars
Sales 1,403,179,268 1,231,471,004
Details are as below
Name of the Products
Carton 133,973,845 122,579,349
Elastic 114,605,287 107,580,939
Twill Tape 19,284,865 12,724,959
Hanger 560,315,554 516,749,253
Poly 92,622,658 -
Photo Card 192,576,995 177,863,408
Back Board 119,850,242 145,184,257
Size/Price/Bar Code Tag 4,191,570 3,838,721
Tissue Paper 20,563,778 13,756,420
Interlining 40,526,153 38,375,241
Label 77,968,160 72,062,073
Gum Tape 26,700,160 20,756,384
1,403,179,268 1,231,471,004
15.00 Cost of Goods Sold : Tk. 1,097,416,206
This is made up as follows:
Particulars
Raw materials consumed (15.01) 927 ,503,863 804,826,658
Manufacturing Overhead (15.03) 105,966,270 96,370,143
Depreciation 69,519,134 64,425,311
Cost of Manufacturing 1,102,989,267 965,622,112
.
Work in process- Opening 10,254,160 9,642,689
Work in process- Closing (12,485,640) (10,254,160)
Cost of production 1,100,757,787 965,010,641
‘
Finished goods - Opening 11,465,876 10,762,154
Finished goods - Closing (14,807,457) (11,465,876)
Total: 1,097,416,206 964,306,919
15.01 Raw Materials : Tk. 284,211,471
This is made up as follows:
Particulars
Opening 222,481,839 167,820,575
Add: Purchase during the year 989,233,495 859,487,922
Raw materials available for Production 1,211,715,334 1,027,308,497
Less: Consumption during the year 927,503,863 804,826,658
Closing balance 284,211,471 222,481,839
Olympic Accessories Limited
Page | 61
15.02 Store Items : Tk. 3,570,223
This is made up as follows:
Particulars
Opening 3,445,136
2,921,874
Add: Purchase during the year 9,715,469
6,985,427
13,160,605 9,907,301
Less: Consumption during the year 9,590,382 6,462,165
Closing balance 3,570,223 3,445,136
15.03 Manufacturing overhead : Tk. 105,966,270
This is made up as follows:
Particulars
Wages, Salaries and allowances 51 ,435,500
49,848,754
Festival Bonus 5,534,600 4,658,920
Carrying Charge 5,820,624
5,315,687
Power & Fuel 9,641,864
8,537,495
Medical Expenses 272,451
258,746
Fooding 5,265,237
4,925,698
Labor Charge 5,651,690
4,852,487
Production Incentives 1,736,980
1,452,630
Rent & Rates 2,565,000 3,009,600
Telephone and Mobile Bill 412,056
356,874
Printing & Stationery Expenses 954,289 985,487
Store Items 15.02 9,590,382
6,462,165
Workers' Transportation 1,475,426
1,020,569
Conveyance 246,730
210,500
Postage & Stamp 852,468
735,298
Miscellaneous Expenses 605,036
521,687
Repairs & Maintenance 3,905,937
3,217,546
Total: 105,966,270 96,370,143
16.00 Administrative Expenses : Tk. 31,642,462
This is made up as follows:
Particulars
Salaries and allowances 15,526,500 8,184,875
MD's Remuneration 390,000 390,000
Director's Remuneration 330,000 330,000
Festival Bonuses 2,524,765 1,458,960
Tours and Travelling Expenses 2,532,548 1,785,624
Phone, Fax and Mobile Bill 839,524 732,548
Postage & Stamps 382,235 354,218
Printing & Stationery 783,924 756,324
Fees and Forms 1,853,458 924,289
Office Rent 654,000 547,200
Entertainment 911,715 730,548
Electricity, Water, Gas 519,524 432,047
Audit & Professional fees 287,500 287,500
Miscellaneous Expenses 795,326 625,487
Vehicles Fuel and Oil Expenses 1,138,970 952,158
Depreciation 2,172,473 2,013,291
Total: 31,642,462 20,505,069
Olympic Accessories Limited
Page | 62
17.00 Selling & Distribution Expenses : Tk. 38,826,735
This is made up as follows:
Particulars
Salaries and allowances 18,752,600
12,685,487
Festival Bonuses 2,884,460
1,525,680
Advertisement 345,000
384,573
Electricity and Other Utilities Bill 1,254,876
956,287
Phone, Fax and Mobile Bill 995,418
778,542
Entertainment Expenses 1,785,274
1,252,689
Repair & Maintenance 895,426 852,487
Paper and periodicals 146,372
135,680
Traveling Expenses 2,996,524 2,446,945
Printing & Stationery 389,421
302,487
Sample Expenses 2,371,367
1,256,840
Postage & Courier 83,548
85,489
Transportation & Handling Expenses 3,334,751
2,525,487
Miscellaneous Expenses 1,867,540
621,548
Depreciation 724,158
671,097
Total: 38,826,735 26,481,318
20.00 Financial Expenses : Tk. 66,359,730
This is made up as follows:
Particulars
Interest on Loan and Bank Charges 20.01 66,359,730
69,085,836
Total: 66,359,730 69,085,836
20.01 Interest on Loan : Tk. 66,359,730
This is made up as follows:
Particulars
Interest on Short Term Loan and Bank Charges 45,364,842 39,320,546
Interest on Long Term Loan and Bank Charges 20,994,888 29,765,290
66,359,730 69,085,836
21.00 Contribution to WPPF : Tk. 8,044,483
This is made up as follows:
Particulars
Profit before WPPF 168,934,135
-
Contribution to WPPF 8,044,483 -
As per Bangladesh Labor Law 2006, the amount is computed @ 5% net profit before Income Tax
(But after charging such contribution)
Olympic Accessories Limited
Page | 63
22.00 Provision for Taxation : Tk. 10,832,078
This is made up as follows:
Particulars
Provision for Taxation 10,832,078 9,616,861
Total: 10,832,078 9,616,861
23.00 Deferred Tax Expense Tk. 11,332,226
The above balance is made up as follows:
Particulars
Carrying amount of PPE (Accounting Base) 852,521,717
817,227,651
Carrying amount of PPE (Tax Base Base) 494,942,662
572,970,853
Taxable Temporary Difference 357,579,055 244,256,797
Tax Rate 10%
10%
Opening Deferred Tax Liability 24,425,680 16,771,125
Closing Deferred Tax Liability 35,757,906
24,425,680
Deferred Tax Exp./(Income) 11,332,226 7,654,555
24.00 Basic Earnings Per Share
This is made up as follows:
Particulars
Basic Earnings per Share
Total Comprehensive income for the year 138,725,348
133,820,446
Weighted Average Number of Ordinary Shares 6,132,658 126,000
Basic Earning Per Share 22.62 1,062
Weighted Average Number of Ordinary Shares outstanding
No. of Shares Days Factor Weighted average
No. of Shares
1,260,000 365 1.000 1,260,000
8,720,000 164 0.449 3,918,027
10,000 76 0.208 2,082
86,920,000 4 0.011 952,548
Total: 96,910,000 6,132,658
Diluted EPS
Net Profit after Tax 138,725,348 133,820,446
Total No. of Shares 96,910,000 96,910,000
Diluted EPS 1.43 1.38
Olympic Accessories Limited
Page | 64
Olympic Accessories Limited
Schedule of Fixed Assets
For the year ended 30 June 2014
Schedule-A/1
Amount in Taka
Particulars
Cost Rate of
Depreciation/
Amortization
(%)
Depreciation Written Down
Value as at
30.06.2014
Balance as on
01 July 2013
Addition
during the Year
Balance as on
30 June 2014
Balance as on
01 July 2013
Charge
during the
year
Balance as on
30 June 2014
Land & Land Development - 61,332,420 61,332,420 - - - - 61,332,420
Factory Buildings 185,684,350 185,684,350 2.50% 19,597,625 4,152,168 23,749,793 161,934,557
Plant & Machinery 756,826,977 35,045,218 791,872,195 10% 185,237,931 58,911,166 244,149,096 547,723,099
Electrical Installation &
Equipment
68,133,830 3,575,660 71,709,490 10% 13,796,334 5,612,533 19,408,867 52,300,623
Generator 10,562,169 - 10,562,169 10% 4,153,851 640,832 4,794,683 5,767,486
Vehicles 4,086,219 4,592,670 8,678,889 20% 1,732,557 929,999 2,662,556 6,016,333
Furniture and Fixture 9,472,802 1,054,876 10,527,678 10% 3,126,196 687,404 3,813,600 6,714,078
Office Equipment 7,438,507 854,297 8,292,804 20% 4,209,321 731,267 4,940,588 3,352,216
Fire Equipment 8,366,972 1,254,689 9,621,661 10% 1,490,360 750,396 2,240,756 7,380,905
Total 1,050,571,826 107,709,830 1,158,281,656 233,344,175 72,415,764 305,759,940 852,521,716
Allocation of depreciation
Manufacturing Expenses 96% 69,519,134
Administrative Expenses 3% 2,172,473
Selling & Distribution Expenses 1% 724,158
100% 72,415,765
Olympic Accessories Limited
Page | 65
Auditors’ additional disclosure relating to the financial statements for the year
ended 30 June, 2014 of Olympic Accessories Limited
1. It is requires to disclose information regarding capacity installed and utilization as per Schedule XI
part- II, Para 7 of the Companies Act 1994;
Response to the above:
Information as per Schedule XI part- II, Para 7 of the Companies Act 1994 regarding capacity installed
and utilization are as follows:
Particulars Quantity in M.Ton
Installed capacity 15,210.44
Actual Production 11,855.62
Details are as follows:
Sl. No. Name of the Product
Installed Capacity
(M.Ton)
Actual Production
(M. Ton)
Capacity
Utilization in %
1 Carton 2,421.23 1,927.06
77.94%
2 Elastic 415.15 230.90
3 Twill Tape 390.56 262.40
4 Hanger 4,166.19 3,996.41
5 Poly 1,690.30 726.75
6 Photo Card 2,887.50 2,398.47
7 Back Board 2,058.50 1,592.93
8 Size/Price/Bar Code/ Tag 150.00 52.56
9 Tissue Paper 160.00 88.05
10 Interlining 290.00 181.36
11 Label 350.50 213.52
12 Gum Tape 230.51 185.21
Total 15,210.44 11,855.62
2. Information in respect of remuneration paid to the employees as per Schedule XI part- II, Para 3 of
the Companies Act 1994 should be disclosed;
Response to the above:
Information as per Schedule-XI, Part-II, Para-3 of the Companies Act 1994 in respect of remuneration
paid to the employees are as follows:
(a) Director Remuneration & Fees:
Managing Director's monthly remuneration is Tk. 25,000 for six months and Tk. 40,000 for rest six months
and Chairman remuneration is Tk. 25,000 for six months and 30,000 for rest six months.
This is made up as follows:
Name of Board of Directors Position Salary & Benefits
Mrs. Farida Akhter Chairman 330,000
Md. Golam Kibria Managing Director 390,000
Olympic Accessories Limited
Page | 66
(b) No. of employees:
Particulars Number of Employees
Salary Tk. 5,300 per month _
Salary Range above Tk. 5,300 per month 452
Total 452
3. Related party transactions as per BAS-24 is required to revise and disclose;
Response to the above:
Revised related party transactions as per BAS-24 relating to notes no 2.12 of the Audited Financial
Statements for the year ended June 30, 2014 are as follows:
Particulars Type of Transaction Amount in Taka
Md. Golam Kibria Remuneration 390,000
Mrs. Farida Akhter Remuneration 330,000
Md. GolamKibria
Investment in Share 100,000,000
Land Purchase 1,472,976
Mrs. Farida Akhter Investment in Share 60,000,000
Navana Poly Packaging Ltd. Investment in Share 100,000,000
M/s Bay Poly & Packaging Ltd. Investment in Share 50,000,000
M/s Riverside Apparels Limited Investment in Share 50,000,000
4. It appears from the prospectus (pg. 18) that the issuer company supplies garment accessories to the
export oriented garment industries against back to back L/Cs. It also appears from the draft
prospectus (pg. 20) that the issuer company procures its raw materials from overseas market. As such,
information regarding turnover/sales and imported raw material should be disclosed as Schedule XI,
Part II, Para 8 of the Companies Act, 1994;
Response to the above:
Quantity wise schedules of sales, raw material consumed and opening and closing stock of finished
goods relating to the financial statements for the period ended 30 June 2014 as required under Para
8, Schedule XI, Part II of the Companies Act 1994 are given below:
(a): Sales
Particulars Quantity in MT Amount in FOB (USD) Amount in Taka
Domestic Sales - - -
Export Sales 11,827 17,863,518 1,403,179,268
Total 11,827 17,863,518 1,403,179,268
(b) Raw Materials Consumed in Quantities
Particulars Quantity in MT
Opening Stock 1361.72
Add: Import during the Year 10,347.12
Raw Material available for consumption 11,709
Less: Closing Stock 1,683.90
Raw Material Consumed 10,024.94
Olympic Accessories Limited
Page | 67
(C ) Particulars in respect of opening stock, sales and closing stock of finished goods:
Particulars Quantity in M.Ton Amount in Taka
Opening Stock 112.48 11,465,876
Closing Stock 141.09 14,807,457
Sales 11,827.01 1,403,179,268
(d ) Particulars in respect of opening stock and closing stock of Inventories:
Particulars Opening Stock Closing Stocks
Quantity
(M.Ton) Value (Tk.) Quantity
(M.Ton) Value (Tk.)
Raw Materials 1361.72 222,481,839 1683.9 284,211,471
Work in Process 120.24 10,254,160 136.34 12,485,640
Finished Goods 112.48 11,465,876 141.09 14,807,457
5. With reference to immediate preceding query, it appears that some of the assets and liabilities are
organized from the transaction in foreign currency. Such assets and liabilities were not marked to
market. As such it is required to ascertain the gains or loss if such assets and liabilities would have
been marked to market @ forex rate at balance sheet date. Accordingly, the adjustments of such
gain/loss are to be taken into account while calculating “tangible assets per share” and NAV per
share;
Response to the above:
Calculation of “Tangible Assets per Share” and NAV per Share considering foreign exchange gain/loss
are as follows:
Trade Receivables
Receivable in USD USD Rate Receivable in BDT
Current Market Rate
5,353,651 77.63 415,603,894
Average Rate
5,353,651 76.80 411,141,163
Market to Market (Gain/(Loss) 4,462,731
Effect on NAV: Net Asset Value Before cha rgin g Market to Market 1 ,583,469,312
Market to Market (Gain/(Loss) 4,462,731
1,587,932,043
Tangible Assets/NAV per share 16.39
6. It is required to disclose information in respect to turnover/sales as per Schedule XI, Part II, Para 3 of
the Company Act, 1994;
Response to the above:
Quantity wise schedules of sales, raw material consumed and opening and closing stock of finished
goods relating to the financial statements for the year ended 30 June 2014 as required under Para-3,
Schedule-XI, Part-II of the Companies Act 1994 are given below:
Sales
Particulars Quantity in MT Amount in Taka
Export Sales 11,827 1,403,179,268
Olympic Accessories Limited
Page | 68
Details are as follows:
Sl. No. Name of the Product Quantity in
M.Ton
Amount in Taka Percentage (%)
1 Carton 1,910.09 133,973,845 9.55%
2 Elastic 231.74 114,605,287 8.17%
3 Twill Tape 267.85 19,284,865 1.37%
4 Hanger 3,992.56 560,315,554 39.93%
5 Poly 687.25 92,622,658 6.60%
6 Photo Card 2,407.42 192,576,995 13.72%
7 Back Board 1,598.45 119,850,242 8.54%
8 Size/Price/Bar Code/ Tag 53.39 4,191,570 0.30%
9 Tissue Paper 89.02 20,563,778 1.47%
10 Interlining 185.46 40,526,153 2.89%
11 Label 213.57 77,968,160 5.56%
12 Gum Tape 190.21 26,700,160 1.90%
Total 11,827.01 1,403,179,268 100.00%
7. Auditors’ disclosures regarding different type of EPS calculation required.
Response to the above:
Different types of EPS calculation are given as follows:
Particulars Amount in Taka
30-06-2014 30-06-2013 30-06-2012 30-06-2011 30-06-2010
Net Profit after Tax 138,725,348 133,820,446 117,004,848 74,882,410 55,550,763
Weighted Average Number of
Ordinary shares outstanding
6,132,658 126,000 126,000 126,000 126,000
Earnings per Share (EPS) basic 22.62 1,062.07 928.61 594.30 440.88
*Adjusted Earnings per Share (EPS) 1.43 1.38 1.21 0.77 0.57
* Present number of share is 96,910,000.
Sd/-
Dhaka
Ahmed Zaker & Co.
Dated: December 14, 2014
Chartered Accountants
8. Disclosure regarding audit fee as per Schedule XI part-II, Para 6 of the Companies Act 1994 is
required;
Response to the above:
Disclosures under para 6 of schedule XI part II of the Companies Act, 1994.
Amount paid to auditors for the year ended June 30, 2014;
Name Purpose Amount in Tk.
Ahmed Zaker & Co. Audit Fee 287,500
Olympic Accessories Limited
Page | 69
9. Disclosure regarding Contingent Liabilities & Assets and its provision as per BAS-37 are required;
Response to the above:
The Company has no contingent liabilities & assets and its provision as per BAS-37 as on June 30,
2014
10. Details of Trade Receivables as on 30.06.2014 and subsequent status of Trade Receivables and
liability against Trust Receipt are required to disclose;
Response to the above:
Details of Trade Receivables as on 30.06.2014 are as follows:
Olympic Accessories Ltd.
For the year ended 30 June 2014
Particulars Amount in USD Amount in Taka
Trade Receivable (within 3 months) 3,501,447 268,745,632
Trade Receivable (within 3 to 6 months) 1,852,204 142,395,531
Total 5,353,651 411,141,163
Name of the Trade Receivable Due within 3 months
Amount in USD Amount in Taka
Abrar Knit Concern Ltd. 22,606 1,734,330
AKR Fashion Ltd. 13,331 1,024,228
Alltex Industries Ltd. 5,000 383,350
Ameen Febrices Ltd. 30,001 2,314,239
Antim Knitting Dyeing Ltd. 34,810 2,668,875
Antim Knitting Dyeing & Finishing Ltd. 30,778 2,374,252
Anzir Apparels Ltd 49,712 3,834,774
Around Star Sweater ltd 200,087 15,349,428
Ayman Textile & Hosiery Ltd 22,750 1,754,935
Azm Stylewear Ltd. 32,908 2,526,657
BHML Sweaters Ltd. 50,000 3,819,023
BKC Sweater Ltd. 91,551 7,007,919
Crossline Knit Fabrices Ltd 11,293 865,831
Crown Fashion & Sweater Ind, Ltd 44,273 3,394,402
Dana Sweater Ind, Ltd 71,965 5,526,379
D&S Pretty Fashion Ltd 69,770 5,382,058
Diana Garments Ltd 50,002 3,857,123
Dk Knitwear Ltd 93,243 7,157,809
DK Sweater Ltd. 132,630 10,190,996
DMC Apparels Ltd 16,000 1,227,047
Dress up Ltd 22,000 1,680,360
Fashion Store Ltd 56,408 4,311,315
Fraulen Fashions Ltd 242,491 18,571,153
Gemini Garments Ltd. 17,947 1,384,432
Glory Fashion Ltd 11,590 885,244
Good Rich Sweater 220,586 16,942,283
Olympic Accessories Limited
Page | 70
Graphes textiles Ltd 259,925 19,942,244
Gulf Knitting And Textiles Ltd 20,650 1,592,941
Hamid Fashion Ltd 38,500 2,956,057
Hanaro Fashion Ltd 51,545 3,943,195
Intraco Fashion Ltd 26,880 2,063,846
Jeans Manufacturer Co. Ltd. 387,213 29,718,305
Joya Fashion Ltd 55,155 4,236,305
J S Design Ltd 30,724 2,370,066
Khondoker Fashion Ltd 19,892 1,528,310
Knit Reflex Ltd 10,002 771,554
Lyric Ind, Pvt Ltd 12,544 967,653
Magpie Knit Wear Ltd 40,270 3,087,223
MHC Apperals Pvt Ltd 25,200 1,924,776
Mim Design Ltd 23,106 1,771,999
Mozrat knit Ltd 24,093 1,858,495
Mrinmoy Fashion Ltd 15,005 1,150,402
Muazuddin Knit Fashion Ltd 25,019 1,916,065
Naz Knit Wear Ltd 53,650 4,103,631
Needle Drop Ltd 55,000 4,200,900
Next Composite Ltd. 20,017 1,544,073
Nexus Sweaters Pvt Ltd 51,120 3,978,157
Northern Corporation Ltd 25,000 1,920,773
Oishi Fasion (Pvt) Ltd. 20,000 1,535,600
Oli Knitting Fabrics Ltd 28,000 2,147,341
Oriental Industrial Co. Ltd 25,019 1,922,210
Ornate International Ltd 42,998 3,296,657
Onus Design Ltd 18,057 1,377,904
Panasia Sweater Ltd 30,135 2,317,519
Pearl Prince Apparels Ltd. 55,327 4,255,062
Peerage Knitwear Ltd 16,718 1,276,951
Polo Composite Ltd 41,500 3,181,805
Raiyan Knit Composite Ltd 20,516 1,572,885
Reza Fashion Ltd. 14,800 1,134,751
Romo Fashion Today Ltd 18,242 1,398,594
S,Six Fashion Pvt ltd 13,640 1,041,823
Sadat Sweaters Ltd 14,500 1,112,005
Shovon Knit Wear Ltd. 18,330 1,398,762
Sky Line Garments Ltd 30,075 2,309,159
Target Fine Knit Ltd 28,820 2,199,254
Unilliance Textiles Ltd 6,000 460,980
United Apparels Ind, Ltd 20,090 1,540,300
Unitex Knitwear Ltd 732 55,947
Veronica Apparels Ltd. 18,400 1,419,376
V-Knit Wear And Composite Ltd 30,140 2,311,437
Work Field Knit Wear Ltd 25,140 1,927,484
Zahintex Ind. Ltd 50,025 3,836,417
Total 3,501,446.61 268,745,632.21
Olympic Accessories Limited
Page | 71
Name of the Trade Receivable Due within 3 to 6 months
Amount in USD Amount in Taka
Antim Knitting Dyeing&Finishing Ltd 56,955 4,396,363
Anzir Apparels Ltd 52,909 4,084,080
Aroma Fashion Wear Ltd. 20,000 1,543,826
Ayman Textile&Hosiery Ltd 17,500 1,344,000
DK Sweater Ltd. 25,152 1,919,349
Epcot Apparels Ltd 30,040 2,292,380
Fraulen Fashions Ltd 85,033 6,533,158
Golden Refit Garments Ltd 34,000 2,624,460
Good Rich Sweater 64,999 4,991,939
Graphes textiles Ltd 56,894 4,345,258
Hanaro Fashion Ltd 40,005 3,087,986
Hassong Corp. Ltd 74,999 5,723,181
Jeans Manufacturer Co. Ltd. 30,001 2,304,069
Joya Fashion Ltd 14,008 1,068,966
Kaynat Ltd 20,076 1,532,008
Knit Asia Ltd 10,001 771,942
Luman Fashions Ltd 34,500 2,663,080
Magpie Knit Wear Ltd 97,367 7,515,748
Mega Star Apparels Ltd 30,900 2,385,171
Mermaid Sweaters Ltd 30,000 2,315,700
Mim Design Ltd 30,000 2,304,000
Mozrat knit Ltd 47,385 3,639,168
Mrinmoy Fashion&Trade Ind,Ltd 48,433 3,705,186
Muazuddin Knit Fashion Ltd 49,565 3,782,278
National Apperals Ltd 10,801 824,250
Naz Knit Wear Ltd 50,058 3,864,002
Nexus Sweaters Pvt Ltd 42,613 3,251,784
Nirzhor Knitwear Ltd 13,040 1,006,558
Oishi Fasion (Pvt) Ltd. 19,955 1,540,360
Panasia Sweater Ltd 15,010 1,158,653
Pearl Prince Apparels Ltd. 34,933 2,696,478
Perfect Fashion Ltd 67,863 5,217,272
Pioneer Casual Wear Ltd 11,495 887,299
Polo Composite Ltd 179,915 13,938,609
Romo Fashion Today Ltd 48,748 3,762,869
S.Suhi Indudtrial Park Ltd 30,231 2,321,716
Shineast Apparels Ltd. 17,000 1,312,230
Sky Line Garments Ltd 100,001 7,631,052
Sufi Apparels Ltd 18,294 1,395,992
Tosrifa Industries Ltd 25,000 1,920,000
Wintex Garments Ltd 43,133 3,312,614
Wollen And Woll Ltd 48,407 3,736,507
Work Field Knit Wear Ltd 25,005 1,930,120
M/S Wave Tex Apparels Ltd. 49,979 3,813,870
Total 1,852,204 142,395,531
Olympic Accessories Limited
Page | 72
Subsequent realization of Trade Receivables and Payment of Trust Receipt of the Company up to
December 31, 2014 are as follows
Particulars Amount as on
June 30, 2014
Realization/payment
as on December 31, 2014 Balance
Trade Receivable 411,141,163 411,141,163 -
Trust Receipt 53,952,311 53,952,311 -
Sd/-
Dhaka
Ahmed Zaker & Co.
Dated: January 26, 2015 Chartered Accountants
11. Statement of Cash Flows for the year ended on 30.06.2014 has to be rearrenged as per direct method
of BAS-7;
Auditors’ Response to the above:
The rearranged Statement of Cash Flows for the year ended on 30.06.2014 is presented as per direct
method as given below:
Olympic Accessories Limited
Rearrenged Statement of Cash Flows
For the year ended 30 June 2014
Amount in Taka Amount in Taka
30-06-2014 30-06-2013
Cash F lows from Ope rating Activities: Receipts from Customers and others
1,354,009,731
1,201,051,419
Payment to Suppliers, Employees and others
(1,176,513,701)
(946,128,468)
Cash generated from Operat ions
177,496,030
254,922,951
Interest paid
(66,359,730)
(69,085,836)
Income Tax paid
(10,832,078)
(9,616,861)
Net Cash Gene rated from Op erating activities
100,304,222
176,220,254
Cash Flows fro m Investing Ac tivities:
Acquisition of Property, Plant and Equipment (47,850,386) (188,347,420)
Payment for Capital Work in Progress
(28,939,524)
-
Advance against Land Purchase (88,500,000) (59,859,444)
Net Cash Used in Investing activities
(165,289,910)
(248,206,864)
Cash Flows fro m Financing A ctivities: Proceeds from Issuing Share Capital
234,056,780
-
Payment/ Received of Short Term Loan from Bank (15,318,121)
17,579,757
Payment of Long Term Loan from Bank
(153,120,546)
(57,442,328)
Received against Share Money Deposit
-
101,305,399
Net Cash Generated from Financing Activities 65,618,113 61,442,828
Increase in Cas h and Cash Eq uivalents 632,425
(10,543,782)
Cash and Cash Equivalents at Beginning of Year 5,323,590
15,867,372
Cash and Cash Equivalents at End of Year 5,956,015 5,323,590
Olympic Accessories Limited
Page | 73
12. Changes in presentation of Security Deposit should be disclosed;
Auditors’ Response to the above:
The Company has shown in the Financial Statement the amount of Security Deposit under the
security deposit head instead of Advance, Deposits and Prepayments head in the “Statement of
Financial Position” as on 30.06.2013. In order to present in the Financial Statements as on 30.06.2014
the amount of Security Deposit is presented under the head of “Advance, Deposits and Prepayments”
in Note 7.
13. Information regarding import should be disclosed as Schedule XI, Part II, Para 8 of the Companies
Act, 1994.
Auditors’ Response to the above:
Import relating to the financial statements for the year ended 30 June 2014 as required under Para 8,
Schedule XI, Para II of the Company Act 1994 are given below:
Particulars Quantity in MT Amount in FOB (USD) Amount in Taka
Import 10,347 12,658,717 989,233,495
Total 10,347 12,658,717 989,233,495
Sd/-
Dated: February 10, 2015 Ahmed Zaker & Co.
Dhaka Chartered Accountants.
Olympic Accessories Limited
Page | 74
Auditors’ report Under Section-135 (1) and Para-24(1) of Part-II of Schedule-III of
the Companies Act 1994
We have compiled the accompanying statements of Olympic Accessories Limited. U/S 135 (1) and Para 24
(1) Part II of the Third Schedule of Companies Act 1994. The statement comprises of the financial
information for the year ended June 30, 2014 audited by Ahmed Zaker & Co. Chartered Accountants and
for the year ended June 30, 2013, 2012, 2011 and 2010 audited by Mahfel Huq & Co. Chartered
Accountants. Our report is as under:
1. The Olympic Accessories Limited was incorporated on 28 May, 2003.
2. The financial position of the Com pany over the l ast 5 years is as follows:
A) Statements of Assets and Liabilities of the company is as under:
Particulars
Amount In Taka
30-06-2014 30-06-2013 30-06-2012 30-06-2011 30-06-2010
APPLICATION OF FUND
NON-CURRENT ASSETS
Property, Plant & Equipment 852,521,716 817,227,651 695,989,930 550,267,593 374,945,593
Capital Work in Progress 28,939,524 - - - -
Security Deposit - 1,275,804 1,275,804 1,275,804 1,275,804
Total Non-Current Assets 881,461,240 818,503,455 697,265,734 551,543,397 376,221,397
CURRENT ASSETS
Trade and other Receivable 411,141,163 361,971,626 331,552,041 304,513,692 176,148,233
Advance, Deposit & Prepayments 121,152,229 78,654,693 72,759,107 34,817,822 17,659,760
Inventories 315,074,791 247,647,011 191,147,292 154,908,824 61,917,677
Cash & Cash Equivalent 5,956,015 5,323,590 15,867,372 1,973,439 9,530,664
Total Current Assets 853,324,198 693,596,920 611,325,812 496,213,777 265,256,334
Total Assets 1,734,785,438 1,512,100,375 1,308,591,546 1,047,757,174 641,477,731
EQUITY AND LIABILITIES
Share Capital 969,100,000 12,600,000 12,600,000 12,600,000 12,600,000
Share Money Deposit - 722,443,220 621,137,821 443,407,213 235,448,253
Retained Earnings 614,369,312 475,643,964 358,594,643 241,589,795 166,707,385
1,583,469,312 1,210,687,184 992,332,464 697,597,008 414,755,638
NON-CURRENT LIABILITIES
Long term Loan - 153,120,546 210,562,874 295,248,764 -
Deferred Tax 35,757,906 24,425,680 - - -
Total Non-Current Liabilities 35,757,906 177,546,226 210,562,874 295,248,764 -
CURRENT LIABILITIES
Short Term Borrowings 87,972,107 103,290,228 85,710,471 42,372,889 150,178,726
Creditors & Accruals 27,586,113 20,576,737 19,985,736 12,538,513 11,861,468
Directors and Others Loan - - - - 64,681,899
Total Current Liabilities 115,558,220 123,866,965 105,696,207 54,911,402 226,722,093
Total Liabilities 151,316,126 301,413,191 316,259,081 350,160,166 226,722,093
Total Equity and Liabilities 1,734,785,438 1,512,100,375 1,308,591,546 1,047,757,174 641,477,731
Net Assets Value Per Share 16.34 3,874.95 2,945.99 2,017.38 1,423.07
Adjusted Net Assets Value Per Share 16.34 5.04 3.83 2.62 1.85
Olympic Accessories Limited
Page | 75
B) The statements of operating results of the company is as follow:
Particulars
Amount In Taka
30-06-2014 30-06-2013 30-06-2012 30-06-2011 30-06-2010
Sales Revenue 1,403,179,268 1,231,471,004 1,071,662,481 754,505,807 528,583,561
Less: Cost of Goods Sold 1,097,416,206 964,306,919 851,221,509 594,651,841 421,505,265
GROSS PROFIT 305,763,062 267,164,085 220,440,972 159,853,966 107,078,296
OPERATING EXPENSES 70,469,197 46,986,387 31,366,628 23,666,313 17,558,925
EBIT 235,293,865 220,177,698 189,074,344 136,187,653 89,519,371
NON OPERATING EXPENSE
Financial Expenses 66,359,730 69,085,836 65,794,751 57,495,845 31,122,235
NET PROFIT BEFORE TAX & WPPF 168,934,135 151,091,862 123,279,593 78,691,808 58,397,136
Workers Profit Participation Fund 8,044,483 - - - -
NET PROFIT BEFORE TAX 160,889,652 151,091,862 123,279,593 78,691,808 58,397,136
Less: Provision for Tax 10,832,078 9,616,861 6,274,745 3,809,398 2,846,373
Less: Deferred Tax Expenses 11,332,226 7,654,555 - - -
NET PROFIT AFTER TAX 138,725,348 133,820,446 117,004,848 74,882,410 55,550,763
EARNINGS PER SHARE (EPS) BASIC 22.62 1,062.07 928.61 594.30 440.88
ADJUSTED EARNINGS PER SHARE
(EPS) 1.43 1.38 1.21 0.77 0.57
3. Dividend declared:
Particulars 30.06.2014 30.06.2013 30.06.2012 30.06.2011 30.06.2010
Cash Dividend Nil Nil Nil Nil Nil
Stock Dividend (Bonus Share) Nil Nil Nil Nil Nil
4. Olympic Accessories Limited (O AL) was incor porated in Ba ngladesh as a Private Limite d Company
with the issuance of Certificate of incorporation bearing no. C- 49349 (1333) of 2003 dated on May
28, 2003 by the Registrar of Joint Stock Companies & Firms. The Company Converted into public
Limited Company on July 2, 2014 and split of Share value from Tk. 100 to Tk. 10 dated on March 09,
2014.
5. The Company started its comme rcial operation in 07th Octob er, 2007.
6. The company had no subsidiary company as o n the balance sheet date.
7. No proceeds or part of the proceeds of the issue of shares would be applied directly by the company
in the purchase of any business.
8. The company did not prepare a ny statement o f accounts for the year subse quent to June 30, 2014.
Sd/-
Dated: December 14, 2014
Ahmed Zaker & CO.
Dhaka
Chartered Accountants
Olympic Accessories Limited
Page | 76
Auditors’ Certificate regarding statement of Ratio Analysis
Selected Ratio as specified in rule 8B (20) I Annexure B of the Securities and Exchange Commission
(Public Issue) Rules, 2006
This is to certify that Olympic Accessories Limited has maintained the following ratios as computed on
the basis of the audited financial statements for the year ended June 30, 2014, 2013, 2012, 2011 and
2010.
Particulars
30.06.2014 30.06.2013 30.06.2012 30.06.2011 30.06.2010
Ratio
Liquidity Ratios: (Times)
Current Ratio 7.38 5.60 5.78 9.04 1.17
Quick Ratio 3.61 2.97 3.29 5.58 0.82
Times Interest Earned Ratio 3.55 3.19 2.87 2.37 2.88
Debt to Equity Ratio 0.06 0.21 0.30 0.48 0.52
Operating Ratios: (Times)
Accounts Receivable Turnover Ratio 3.63 3.55 3.37 3.14 3.53
Inventory Turnover Ratio 3.90 4.40 4.92 5.49 8.69
Asset Turnover Ratio 0.86 0.87 0.91 0.89 0.95
Profitability Ratios:
Gross Margin Ratio 21.79% 21.69% 20.57% 21.19% 20.26%
Operating Income Ratio 12.04% 12.27% 11.50% 10.43% 11.05%
Net Income Ratio 9.89% 10.87% 10.92% 9.92% 10.51%
Return on Assets Ratio 8.55% 9.49% 9.93% 8.87% 10.01%
Return on Equity Ratio 9.93% 12.15% 13.85% 13.46% 18.37%
Basic Earnings Per Share (EPS) 22.62 1,062.07 928.61 594.30 440.88
Adjusted Earnings Per Share (EPS) 1.43 1.38 1.21 0.77 0.57
Sd/-
Dated: September 08, 2014
Ahmed Zaker & CO.
Dhaka
Chartered Accountants
Olympic Accessories Limited
Page | 77
RATIO CALCULATION
Particulars Formula
For the Year ended
30.06.2014 30.06.2013 30.06.20112 30.06.2011 30.06.2010
Calculation Ratio Calculation Ratio Calculation Ratio Calculation Ratio Calculation Ratio
Liquidity Ratios: (Times)
Current Ratio Current assets/Current liabilities
853,324,198
7.38
693,596,920
5.60
611,325,812
5.78
496,213,777
9.04
265,256,334
1.17
115,558,220 123,866,965 105,696,207 54,911,402 226,722,093
Quick Ratio
(Current assets-Inventories-Advance, Deposit &
Prepayments)/Current liabilities
417,097,178
3.61
367,295,216
2.97
347,419,413
3.29
306,487,131
5.58
185,678,897
0.82
115,558,220 123,866,965 105,696,207 54,911,402 226,722,093
Times Interest Earned Ratio EBIT/Financial Expenses
235,293,865
3.55
220,177,698
3.19
189,074,344
2.87
136,187,653
2.37
89,519,371
2.88
66,359,730 69,085,836 65,794,751 57,495,845 31,122,235
Debt to Equity Ratio Total debt/Total equity
87,972,107
0.06
256,410,774
0.21
296,273,345
0.30
337,621,653
0.48
214,860,625
0.52
1,583,469,312 1,210,687,184 992,332,464 697,597,008 414,755,638
Operating Ratios: (Times)
Accounts Receivable Turnover
Ratio
Net Sales/Average Accounts Receivables
1,403,179,268
3.63
1,231,471,004
3.55
1,071,662,481
3.37
754,505,807
3.14
528,583,561
3.53
386,556,395 346,761,834 318,032,867 240,330,963 149,765,540
Inventory Turnover Ratio Cost of Goods Sold /Average inventory
1,097,416,206
3.90
964,306,919
4.40
851,221,509
4.92
594,651,841
5.49
421,505,265
8.69
281,360,901 219,397,152 173,028,058 108,413,251 48,501,630
Asset Turnover Ratio Net Sales/Average Total Assets
1,403,179,268
0.86
1,231,471,004
0.87
1,071,662,481
0.91
754,505,807
0.89
528,583,561
0.95
1,623,442,907 1,410,345,961 1,178,174,360 844,617,453 555,005,637
Profitability Ratios:
Gross Margin Ratio Gross profit/Net Sales
305,763,062
21.79%
267,164,085
21.69%
220,440,972
20.57%
159,853,966
21.19%
107,078,296
20.26%
1,403,179,268 1,231,471,004 1,071,662,481 754,505,807 528,583,561
Operating Income Ratio Operating profit/Net Sales
168,934,135
12.04%
151,091,862
12.27%
123,279,593
11.50%
78,691,808
10.43%
58,397,136
11.05%
1,403,179,268 1,231,471,004 1,071,662,481 754,505,807 528,583,561
Net Income Ratio Net profit after tax/Net Sales
138,725,348
9.89%
133,820,446
10.87%
117,004,848
10.92%
74,882,410
9.92%
55,550,763
10.51%
1,403,179,268 1,231,471,004 1,071,662,481 754,505,807 528,583,561
Return on Assets Ratio Net profit after tax/Average Total assets
138,725,348
8.55%
133,820,446
9.49%
117,004,848
9.93%
74,882,410
8.87%
55,550,763
10.01%
1,623,442,907 1,410,345,961 1,178,174,360 844,617,453 555,005,637
Return on Equity Ratio
Net profit after tax/Average Total Shareholders’
equity
138,725,348
9.93%
133,820,446
12.15%
117,004,848
13.85%
74,882,410
13.46%
55,550,763
18.37%
1,397,078,248 1,101,509,824 844,964,736 556,176,323 302,395,630
Basic Earnings Per Share (EPS)
Net profit after tax/Weighted Average Number of
Ordinary shares outstanding
138,725,348
22.62
133,820,446
1,062.07
117,004,848
928.61
74,882,410
594.30
55,550,763
440.88
6,132,658 126,000 126,000 126,000 126,000
Adjusted Earnings per share
(EPS)
Net profit after tax/ Number of Ordinary shares
(present)
138,725,348
1.43
133,820,446
1.38
117,004,848
1.21
74,882,410
0.77
55,550,763
0.57
96,910,000 96,910,000 96,910,000 96,910,000 96,910,000
Olympic Accessories Limited
Page | 78
PART XX: LOCK IN PROVISION
All issued shares of the Issuer at the time of according consent to public offering shall be subject to a
lock-in period of three years from the date of issuance of prospectus or commercial operation, whichever
comes later.
Provided that the persons, other than directors and those who hold 5% or more, who have subscribed to
the shares of the Company within immediately preceding two years of according consent, shall be subject
to a lock-in period of one year from the date of issuance of prospectus or commercial operation,
whichever comes later.
The following table indicates the Lock-In status of the shareholders of Olympic Accessories Limited:
Sl.
No.
Name of Shareholder Position BO Account No. No. of
Shares
(%) Date of 1st
Acquisition
Lock-in
Period*
1 Md. Golam Kibria Managing
Director
1201960056036401 10,000,000 10.32% 28-May-03 3 Yrs.
2 Mrs. Farida Akhter Chairman 1201960056036428 6,000,000 6.19% 28-May-03 3 Yrs.
3 M/s Navana Poly Packaging Limited.
(Nominated by Md. Golam Sorowar)
Director 1204490058180095 10,000,000 10.32% 20-Feb-07 3 Yrs.
4 M/s Bay Poly & Packaging Ltd.
(Nominated by Md. Golam Moula Majumder)
Director 1204490058180087 5,000,000 5.16% 20-Feb-07 3 Yrs.
5 M/s Riverside Apparels Limited
(Nominated by Rifat Bin Kibria)
Director 1204490058180079 5,000,000 5.16% 18-Jan-14 3 Yrs.
6 Syed Golam Wadud Shareholder 1203180004740195 1,000,000 1.03% 18-Jan-14 1 Yr.
7 Mrs. Hosneara Begum Shareholder 1203330058175312 950,000 0.98% 18-Jan-14 1 Yr.
8 M/s Orion Infusion Limited Shareholder 1202610057341393 4,000,000 4.13% 18-Jan-14 1 Yr.
9 M/s Orion Pharma Limited Shareholder 1202610017045833 3,000,000 3.10% 18-Jan-14 1 Yr.
10 M/s Global Shoes Ltd Shareholder 1201960053332061 4,300,000 4.44% 18-Jan-14 1 Yr.
11 Samaresh Banik Shareholder 1204230033656585 350,000 0.36% 18-Jan-14 1 Yr.
12 Ferdous Jaman Shareholder 1203710048456909 500,000 0.52% 18-Jan-14 1 Yr.
13 Ms. Nazia Akter Shareholder 1202610048464551 300,000 0.31% 18-Jan-14 1 Yr.
14 Mohammad Obaidul Karim Shareholder 1202610034182432 4,500,000 4.64% 18-Jan-14 1 Yr.
15 Salman Obaidul Karim Shareholder 1202610045134601 4,250,000 4.39% 18-Jan-14 1 Yr.
16 Mrs. Arzuda Karim Shareholder 1202610034182440 4,250,000 4.39% 18-Jan-14 1 Yr.
17 Shibu Ranjan Das Shareholder 1203080013550234 100,000 0.10% 18-Jan-14 1 Yr.
18 Zereen Karim Shareholder 1202610045134611 4,000,000 4.13% 18-Jan-14 1 Yr.
19 Nudrat S. Karim Shareholder 1202610047989670 1,000,000 1.03% 18-Jan-14 1 Yr.
20 Md. Abdur Rahman Shareholder 1201580021430000 200,000 0.21% 18-Jan-14 1 Yr.
21 Md. Sazed Karim Shareholder 1201900016975464 200,000 0.21% 18-Jan-14 1 Yr.
22 Anwar Ispat Limited Shareholder 1205150021289581 4,000,000 4.13% 18-Jan-14 1 Yr.
23 Tasren Mujib Shareholder 1205150055073033 830,000 0.86% 18-Jan-14 1 Yr.
24 Farzana Rahman Shareholder 1201960047103154 2,550,000 2.63% 18-Jan-14 1 Yr.
25 Nurjahan Shareholder 1202790048408481 2,000,000 2.06% 18-Jan-14 1 Yr.
26 Howa Nur Begum Shareholder 1201960054792971 1,900,000 1.96% 18-Jan-14 1 Yr.
27 Bangladesh Shoes Industries Ltd. Shareholder 1201960052123000 2,500,000 2.58% 18-Jan-14 1 Yr.
28 Global Max Packaging Industries Ltd. Shareholder 1201960058175801 3,000,000 3.10% 18-Jan-14 1 Yr.
29 K. M Zahirul Quayum Shareholder 1204180057436384 100,000 0.10% 18-Jan-14 1 Yr.
30 Farhana Zaman Shareholder 1202880032862935 150,000 0.15% 18-Jan-14 1 Yr.
31 Md. Jamal Uddin Patwary Shareholder 1201590008019551 140,000 0.14% 18-Jan-14 1 Yr.
32 S. M Rafiqul Islam Shareholder 1202880057578236 100,000 0.10% 18-Jan-14 1 Yr.
33 Sheikh Kabir Hossain Shareholder 1202880049446705 250,000 0.26% 18-Jan-14 1 Yr.
34 Mohammad Fakhrul Alam Shareholder 1202680017841660 300,000 0.31% 18-Jan-14 1 Yr.
35 Mohammed Kamruzzaman Shareholder 1601880026014223 1,000,000 1.03% 18-Jan-14 1 Yr.
36 Md. Jahangir Alam Shareholder 1203570043617367 200,000 0.21% 18-Jan-14 1 Yr.
37 Mst. Momena Alam Shareholder 1203570040183580 800,000 0.83% 18-Jan-14 1 Yr.
38 M/s Knit Express Ltd. Shareholder 1201960058176028
3,990,000
4.13%
18-Jan-14
1 Yr.
10,000 16-Apr-14
39 Rafiqul Islam Shareholder 1203120049558285 150,000 0.15% 18-Jan-14 1 Yr.
40 Mohammed Mizanur Rahman Mazumder Shareholder 1202880033231947 100,000 0.10% 18-Jan-14 1 Yr.
41 Md. Mosharraf Uddin Khaled Shareholder 1201960045102131 100,000 0.10% 18-Jan-14 1 Yr.
42 M. Nurul Hossain Shareholder 1204180057436731 100,000 0.10% 18-Jan-14 1 Yr.
43 Zakir Hossain Shareholder 1204180057436614 100,000 0.10% 18-Jan-14 1 Yr.
Olympic Accessories Limited
Page | 79
44 Md. Rabiul Hossain Shareholder 1602510046741063 100,000 0.10% 18-Jan-14 1 Yr.
45 Mohmmed Mominur Rahman Shareholder 1204180057436507 100,000 0.10% 18-Jan-14 1 Yr.
46 Md. Ekramul Ameen Shareholder 1201720000843029 100,000 0.10% 18-Jan-14 1 Yr.
47 Md. Majahar Uddin Bhuiyan Shareholder 1204180057436855 100,000 0.10% 18-Jan-14 1 Yr.
48 Mozemmel Bin Shafi Shareholder 1202880057451418 100,000 0.10% 18-Jan-14 1 Yr.
49 N. M Asaduzzaman Shareholder 1202610058181255 200,000 0.21% 18-Jan-14 1 Yr.
50 Shahriar Dastgir Shareholder 1203150055249317 450,000 0.46% 18-Jan-14 1 Yr.
51 A.B.M Tanvir Hossain Shareholder 1204750058173562 200,000 0.21% 18-Jan-14 1 Yr.
52 Md. Foysal Ahamed Shareholder 1203040058175818 200,000 0.21% 18-Jan-14 1 Yr.
53 Ruhul Kuddus Saikat Shareholder 1202830052864026 200,000 0.21% 18-Jan-14 1 Yr.
54 Shafiul Azam Shareholder 1202830053832101 200,000 0.21% 18-Jan-14 1 Yr.
55 Md. Mofaggel Hossain Shareholder 1202830052866175 100,000 0.10% 18-Jan-14 1 Yr.
56 Md. Sazzad Hossain Shareholder 1202830052864491 100,000 0.10% 18-Jan-14 1 Yr.
57 Laila Arju Mond Banu Shareholder 1201950058176871 50,000 0.05% 18-Jan-14 1 Yr.
58 Md. Ruhul Amin Molla Shareholder 1203260056900702 400,000 0.41% 18-Jan-14 1 Yr.
59 Md. Rustum Ali Howladar Shareholder 1204180054125228 40,000 0.04% 18-Jan-14 1 Yr.
60 Md. Fazlul Haque Shareholder 1204180054125211 40,000 0.04% 18-Jan-14 1 Yr.
61 Nasrin Akter Shareholder 1204180054125201 40,000 0.04% 18-Jan-14 1 Yr.
62 Md. Habibullah Shareholder 1204480020700554 50,000 0.05% 18-Jan-14 1 Yr.
63 Md. Zafran Tareque Chowdhury Shareholder 1202030055822510 20,000 0.02% 18-Jan-14 1 Yr.
64 Md. Mohiuddin Mollah Shareholder 1201750045161099 20,000 0.02% 18-Jan-14 1 Yr.
65 Md. Mizanur Rahman Shareholder 1204030025938856 50,000 0.05% 18-Jan-14 1 Yr.
66 Mr. Mohammad Yahia Shareholder 1202270016142577 50,000 0.05% 18-Jan-14 1 Yr.
67 Manjurul Alam Bhuiyan Shareholder 1202200054757410 200,000 0.21% 18-Jan-14 1 Yr.
68 Md. Suruzzaman Robin Shareholder 1204500058179048 20,000 0.02% 18-Jan-14 1 Yr.
69 Md. Kamal Uddin Patwary Shareholder 1202310015491401 10,000 0.01% 18-Jan-14 1 Yr.
70 Al Haj Md. Ramzan Hossain Shareholder 1202320049784682 500,000 0.52% 18-Jan-14 1 Yr.
Total 96,910,000 100%
*From the issue date of Prospectus.
PART XXI: SUBSCRIPTION, REFUND AND ALLOTMENT
REFUND OF SUBSCRIPTION MONEY:
As per BSEC Notification Dated February 9, 2010, the Issuer shall refund application money to the
unsuccessful applicant of the public offer by any of the following manner based on the option given by
the applicant in the application form;
(a) Through banking channel for onward deposit of the refund money into the applicant’s bank account
as provided in the respective application form for subscription; or
(b) Through issuance of refund warrant in the name and address of the applicant as provided in the
respective application form for subscription:
Provided that, in case of deposit into the applicant’s bank account, the applicant will bear the applicable
service charge, if any, of the applicant’s banker, and the Issuer shall simultaneously issue a letter of
intimation to the applicant containing, among others, the date and amount remitted with details of the
bank through and to which bank such remittance has been effected.
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Page | 80
SUBSRCIPTION BY AND REFUND TO NON‐RESIDENT BANGLADESHI (NRB)
1. A Non‐Resident Bangladeshi shall apply either directly by enclosing a foreign demand draft drawn on
a bank payable at Dhaka, or through a nominee by paying out of foreign currency deposit account
maintained in Bangladesh or in Taka, supported by foreign currency encashment certificate issued by
the concern bank, for the value of Securities applied for through crossed bank cheque marking
“Account Payee only”.
2. The value of Securities applied for by such person may be paid in Taka or US Dollar, UK Pound
Sterling or Euro at the rate of exchange mentioned in the securities application form.
3. Refund against over subscription shall be made in the currency in which the value of securities was
paid for by the applicant through Account Payee bank cheque payable at Dhaka with bank account
number, Bank’s name and Branch as indicated in the securities application form. If the applicant’s
bank accounts as mentioned in their IPO Application Forms are maintained with the Bankers to the
Issue as mentioned above, refund amount of those applicants will be directly credited into the
respective bank accounts as mentioned in their IPO Application forms.
ALLOTMENT
The Company shall issue share allotment letters to all successful applicants within 5 (five) weeks from the
date of the subscription closing date. At the same time, the unsuccessful applicants shall be refunded
with the application money within 5 (five) weeks from the closing of the subscription date by crediting
directly to the recipients’ bank accounts. A compliance report shall be submitted with the Commission
within 7 (seven) weeks from the date of closure of subscription.
PART XXII: AVAILABILITY OF SECURITIES
Availability of securities
1. Securities
Securities
Number of
Shares
Total amount (BDT)
20% of IPO of Ordinary Shares are reserved for affected
small investors (¶wZMÖ¯’ ¶z`ª wewb‡qvMKvix). [A] 4,000,000 40,000,000
10% of public offer Shares shall be reserved for Non
Resident Bangladeshis. [B]
2,000,000 20,000,000
10% of public offer of Shares shall be reserved for Mutual
funds and Collective Investment schemes registered with the
Commission. [C]
2,000,000 20,000,000
60% of public offer of Shares shall be opened for
subscription by the General Public. [D]
12,000,000 120,000,000
Total [A+B+C+D] 20,000,000 200,000,000
2. All as stated in 1[A], 1[B], 1[C]and 1[D] shall be offered for subscription and subsequent allotment by
the Issuer, subject to any restriction, which may be imposed, from time to time, by the Bangladesh
Securities and Exchange Commission.
3. In case of over-subscription, under any of the categories mentioned in the clause 1[A], 1[B], 1[C] and
1[D], the Issue Managers shall conduct an open lottery of all the applications received under each
category separately in accordance with the letter of consent issued by the Bangladesh Securities and
Exchange Commission.
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Page | 81
4. In case of under-subscription, under any of the 20% and 10% category as mentioned in clause 1[A],
1[B], and 1[C] the unsubscribed portion shall be added to the general public category, and, if after
such addition there is over-subscription in the general public category the Issuer and the Issue
Managers shall jointly conduct an open lottery of all the applicants added together.
5. In case of under-subscription of the public offering, the unsubscribed portion of shares shall be taken
up by the underwriter(s).
6. The lottery as stated in clause (3) and (4) should be conducted in the presence of the representatives
of Issuer, Stock Exchange(s) and the applicants, if there be any.
PART XXIII: ISSUE MANAGERS & UNDERWRITERS
MANAGERS TO THE ISSUE:
PLFS Investments Limited (Tk. 10.00 Lac) Paramount Heights, 13th Floor, 65/2/1 Box Culvert Road,
Purana Paltan, Dhaka-1000, Bangladesh & CAPM Advisory Limited (Tk. 10.00 Lac) Tower Hamlet (9th
Floor), 16, Kemal Ataturk Avenue Banani C/A, Dhaka-1213, Bangladesh shall get Tk. 2,000,000.00 (Taka
Twenty Lac Only) as issue management fee.
UNDERWRITERS:
As per Bangladesh Securities and Exchange Commission’s guideline 50% of the Public Offer of
20,000,000 ordinary shares i.e., 10,000,000 ordinary shares of Tk. 10.00 each at par i.e., for
Tk. 100,000,000 will be underwritten by the following Underwriters for IPO of Olympic Accessories
Limited with the underwritten Commission @0.40% (zero point four percent).
Sl.
No. Name of the Underwriter No. of Shares
underwritten
Amount of
Underwritten (Tk.)
1
AFC Capital Limited
Tanaka Tower (2nd Floor),
42/1/Gha, Segun Bagicha, Dhaka-1000.
2,500,000 25,000,000
2
PLFS Investments Limited
Paramount Heights, (13th Floor), 65/2/1, Box Culvert Road,
Purana Paltan, Dhaka-1000.
2,500,000 25,000,000
3
CAPM Advisory Limited
Tower Hamlet (9th Floor), 16, Kemal Ataturk Avenue,
Banani C/A, Dhaka-1213.
2,500,000 25,000,000
4 NBL Capital and Equity Management Ltd.
Printers Building, (8thFloor), 5 Rajuk Avenue, Dhaka-1000.
2,500,000 25,000,000
Total 10,000,000 100,000,000
1. If and to the extent that the shares offered to the public by a prospectus authorized hereunder shall
not have been subscribed and paid for in cash in full by the closing date, the Company shall within 10
(ten) days of the closure of subscription call upon the underwriter in writing with a copy of said
writing to the Bangladesh Securities and Exchange Commission, to subscribe for the shares not
subscribed by the closing date and to pay for in cash in full for such subscribed shares in cash in full
within 15 (fifteen) days of the date of said notice and the said amount shall have to be credited into
shares subscription account within the stipulated period.
2. If payment is made by Cheque / Bank Draft by the underwriter it will be deemed that the underwriter
has not fulfilled his obligation towards his underwriting commitment under the agreement, until such
time as the Cheque / Bank Draft has been en-cashed and the Company’s account credited.
Olympic Accessories Limited
Page | 82
3. In case of failure by the underwriter to pay for the shares under the terms mentioned above, the said
underwriter will not be eligible to underwrite any issue, until such time as they fulfills their
underwriting commitment under the agreement and also other penalties as may be determined by
the commission may be imposed on them.
4. In any case within 7 (seven) days after the expiry of the aforesaid 15 (fifteen) days, the Company shall
send proof of subscription and payment by the underwriter to the commission.
5. In case of failure by any underwriter to pay for the shares within the stipulated time, the Issuer will be
under no obligation to pay any underwriting commission under the agreement.
6. In case of failure by the Company through call upon the underwriter for the aforementioned purpose
within the stipulated time, the Company and its Directors shall individually and collectively be held
responsible for the consequences and/or penalties as determined by the Bangladesh Securities and
Exchange Commission under the law may be imposed on them
RIGHT OF UNDERWRITERS ON COMPANY’S BOARD:
Underwriters have not acquired any right to have their representatives in the Board of Directors of the
Company.
COMMISSION FOR UNDERWRITERS
The Company shall pay to the underwriters an underwriting commission at the rate of 0.40% of 50% of
the total IPO amount of the issue value of shares underwritten by them.
PART XXIV: APPLICATION FOR SUBSCRIPTION
1. Application for Shares may be made for a minimum lot for 500 (Five Hundred) Ordinary Shares to the
value of Tk. 5000.00 respectively and should be made on the Company’s Printed Application Form.
Application Forms and the Prospectus may be obtained from the Registered Office of the Company,
Members of the Dhaka and Chittagong Stock Exchange Limited or from the Bankers to the Issue. In
case of adequate Forms are not available, applicants may use
photocopied/cyclostyled/typed/handwritten copies of the Forms. Application must not be for less
than 500 Shares. Any application not meeting the criterion will not be considered for allotment
purpose.
2. Joint Application form for more than two persons will not be accepted. In the case of a joint
application each party must sign the Application Form.
3. Application must be in full name of individuals or limited companies or trusts or societies and not in
the name of firms, minors or persons of unsound mind. Applications from insurance, financial and
market intermediary companies must be accompanied by the Memorandum and Articles of
Association.
4. An applicant cannot submit more than two applications, one in his/her own name and the
other jointly with another person. In case, an applicant submits more than two applications, all
applications will be treated as invalid and will not be considered for allotment purpose. In
addition, 15% (fifteen) of the application money will be forfeited by the Commission and the
balance amount will be refunded to the applicant.
5. The applicant shall provide with the same bank account number in the application form as it is
in the BO account of the application.
6. The applicants who have applied more than two applications using same bank account, their
application will not be considered for lottery and the commission will forfeit 15% of their
subscription money too.
Olympic Accessories Limited
Page | 83
7. An IPO applicant shall ensure his/her BO account remains operational till the process of IPO
(including securities allotment or refund of IPO application) is completed. If any BO account
mentioned in the IPO application is found closed, the allotted security may be forfeited by BSEC.
8. Bangladeshi Nationals (including Non‐Resident Bangladeshis residing / working abroad) and Foreign
Nationals shall be entitled to apply for Shares.
9. Payment for subscription by investors other than Non‐Resident Bangladeshi may be made to the said
branches / office of the Banks mentioned below in Cash/Cheque/Pay Order/Bank Draft. The Cheque
or Pay Order or Bank Draft shall be made payable to the Bank to which it is sent and be marked
“Olympic Accessories Limited.” And shall bear the crossing “Account Payee only” and must be
drawn on a Bank in the same town of the Bank to which application form is deposited.
10. A Non‐Resident Bangladeshi (NRB) shall apply against the IPO either directly by enclosing a foreign
demand draft drawn on a bank payable at Dhaka, or through a nominee (including a Bank or a
Company) by paying out of foreign currency deposit account maintained in Bangladesh, for the value
of securities applied for.
The value of securities applied for may be paid in Taka, US Dollar or UK Pound Sterling or EURO at
the spot Buying (TT Clean) rate of exchange prevailing on the date of opening of subscription. Refund
against over subscription of shares shall be made in the currency in which the value of shares applied
for was paid by the applicant. Share application form against the quota for NRB shall be sent by the
applicant directly along with a draft or cheque to the Company. Copies of application form and
prospectus shall be available with Bangladesh Embassy/High Commission in USA, UK, Saudi Arabia,
UAE, Qatar, Kuwait, Oman, Bahrain, Malaysia and South Korea and web site of the Issuer, issue
managers, DSE, CSE and the BSEC.
11. All completed application forms, together with remittance for the full amount payable on application,
shall be lodged by investors other than Non‐Resident Bangladeshis with any of the branches of the
Bankers to the Issue.
12. The IPO subscription money collected from investors (other than Non‐Resident Bangladeshis) by the
Bankers to the Issue will be remitted to the Company’s STD Account No. 0006-0325000515 with
National Credit and Commerce Bank Limited, Babubazar Branch, Dhaka, Bangladesh for this purpose.
13. The subscription money collected from Non‐Resident Bangladeshis in US Dollar or UK Pound Sterling
or Euro shall be deposited to below mentioned “FC Account for IPO” with National Credit and
Commerce Bank Limited, Babubazar Branch, Dhaka, Bangladesh. In case of over subscription, refund
shall be made by the Company out of the respective FC Accounts:
SL Name of the FC A/C Account No. Bank & Branch
1. US Dollar (USD) 0006-0251000012
National Credit and Commerce Bank
Limited, Babubazar 2. EURO 0006-0253000018 Branch, Dhaka
3. UK Pound Sterling (GBP) 0006-0252000010
14. In the case of over‐subscription of securities to the NRB applicants, refund shall be made by the
Company out of the “FC Account for IPO”. Olympic Accessories Limited has already opened the
aforesaid FC Accounts and shall close these FC Accounts after refund of over subscription, if any.
15. ZvwjKvfz³ ÿwZMÖ¯’ ÿz`ª wewb‡qvMKvixMY mKj cvewjK Bmy¨‡Z GKK A_ev †hŠ_ wnmv‡ei †h †KvbwU A_ev DfqwU n‡Z msiwÿZ
20% †KvUvq Av‡e`b Ki‡Z cvi‡eb | Z‡e Zviv BPQv Ki‡j ÿwZMÖ¯’ msiwÿZ 20% †KvUvq Av‡e`b bv K‡i mvavib
wewb‡qvMKvix‡`i Rb¨ wba©vwiZ †KvUvqI Av‡e`b Ki‡Z cvi‡eb |Ó
Olympic Accessories Limited
Page | 84
16. Making of any false statement in the application or supplying of incorrect information therein
or suppressing any relevant information in the application shall make the application liable to
rejection and subject to forfeiture of 25% of application money and/or forfeiture of share
(unit) before or after issuance of the same by the issuer. The said forfeited application money
or share (unit) will be deposited in account of the Bangladesh Securities and Exchange
Commission (BSEC). This is in addition to any other penalties as may be provided for by the
law.
APPLICATIONS NOT IN CONFORMITY WITH THE ABOVE REQUIREMENTS AND THE INSTRUCTIONS PRINTED ON
THE APPLICATION FORM ARE LIABLE TO BE REJECTED.
DECLARATION ABOUT LISTING OF SHARES WITH STOCK EXCHANGES
None of the Stock Exchanges, if for any reason, grant listing within 75 days from the closure of
subscription, any allotment in terms of this prospectus shall be void and the Company shall refund the
subscription money within fifteen days from the date of refusal for listing by the Stock Exchange, or from
the date of expiry of the said 75 (seventy five) days, as the case may be.
In case of non‐refund of the subscription money within the aforesaid fifteen days, the Company directors,
in addition to the Issuer Company, shall be collectively and severally liable for refund of the subscription
money, with interest at the rate of 2% (two percent) per month above the bank rate, to the subscribers
concerned.
The issue managers, in addition to the Issuer Company, shall ensure due compliance of the above
mentioned conditions and shall submit compliance report thereon to the Commission within seven days
of expiry of the aforesaid fifteen days time period allowed for refund of the subscription money.
TRADING AND SETTLEMENT
Trading And Settlement Regulation of the Stock Exchanges shall apply in respect of trading and
settlement of the shares of the Company.
THE ISSUE SHALL BE PLACED IN “N” CATEGORY
Olympic Accessories Limited
Page | 85
PART XXV: BANKERS TO THE ISSUE
MUTUAL TRUST BANK LIMITED
Alankar Mour Br., Ctg.
Aman Bazar Br., Ctg.
Babu Bazar Br., Dhaka
Banani Br., Dhaka
Baridhara Br., Dhaka
Bashundhara Br., Dhaka
Bogra Br., Bogra
Brahmanbaria Br., Brahmanbaria
Chandra Br., Dhaka
Chawk Moghaltuli Br., Dhaka
Comilla Br., Comilla
Cox's Bazar Br., Cox's Bazar
Dagonbhuiyan Br., Feni
Dania Br., Dhaka
Dhanmondi Br., Dhaka
Dilkusha Br., Dhaka
Dinajpur Br., Dinajpur
Elephant Road Br., Dhaka
Feni Br., Feni
Gobindaganj Br., Gobindaganj
Gulshan Br., Dhaka
Habigonj Br., Habigonj
Jessore Br., Jessore
Kakrail Br., Dhaka
Kalurghat I/A Br., Ctg.
Kamrangir Char Br., Dhaka
Kapasia Br., Gazipur, Dhaka
Khatungonj Br., Ctg.
Kushtia Br., Kushtia
Mirpur Br., Dhaka
Mohammadpur Br., Dhaka
Moulvi Bazar Br., Sylhet
MTB Corporate Center Br., Dhaka
Mymensingh Br., Mymensingh
Narayangonj Br., Narayangonj
Nazirhat Br., Ctg.
Pabna Br., Pabna
Pallabi Br., Dhaka
Panthapath Br., Dhaka
Principal Br., Dhaka
Progati Sarani Br., Dhaka
Raipur Br., Laxmipur
Rajshahi Br., Rajshahi
Rangpur Br., Rangpur
Sarulia Bazar Br., Dhaka
Shah Mokhdum Avenue Br., Dhaka
Shahparan Gate Br., Sylhet
Sirajganj Br., Rajshahi
Sreenagar Br., Dhaka
Sylhet Br., Sylhet
Thakurgaon Br., Thakurgaon
Tongi Br., Dhaka
INVESTMENT CORPORATION OF BANGLADESH
Barisal Br., Brisal
Bogra Br., Bogra
Chittagong Br., Chittagong
Head Office, Dhaka
Khulna Br., Khulna
Local Office, Dhaka
Rajshahi Br., Rajshahi
Sylhet Br., Sylhet
ONE BANK LIMITED
Agrabad Br., Ctg.
Amishapara Br., Noakhali
Anderkilla Br., Ctg.
Anowara Br., Ctg.
Banani Br., Dhaka
Banasree Br., Dhaka
Bangshal Br., Dhaka
Barisal Br., Barisal
Bashabo Br., Dhaka
Boalkhali Br., Boalkhali, Ctg.
Bogra Br., Bogra
Brahmanbaria Br., Brahmanbaria
CDA Avenue Br., Ctg.
Chandgaon Br., Ctg.
Chandragonj Br., Lakshmipur
Chaprashir Hat SME/Agree Br.
Chowmuhuni Br., Noakhali
Comilla Br., Comilla
Cox’S Bazar Br., Cox’S Bazar
Dagon Bhuiyan Br., Feni
Dhanmondi Br., Dhaka
Dovashi Bazar Br., Ctg.
Elephant Road Br., Dhaka
Feni Br., Feni
Ganakbari (EPZ) Br., Savar, Dhaka
Gulshan Br., Dhaka
Halishahar Br., Ctg.
Hathazari Br., Ctg.
Imamganj Br., Dhaka
Islampur Br., Sylhet
Jagannathpur Br., Dhaka
Jatrabari Br., Dhaka
Jessore Br., Jessore
Joypara Br., Dohar, Dhaka
Jubille Road Br., Ctg.
Kakrail Br., Dhaka
Kawran Bazar Br., Dhaka
Khatungonj Br., Ctg.
Khulna Br., Khulna
Kushtia Br., Kushtia
Laksham Br., Comilla
Lakshmipur SME/Agriculture Br.
Lalbagh Br., Dhaka
Laldighirpar Br., Sylhet
Madhabdi Br., Narsingdi
Maijdee Court Br., Noakhali
Mandari Bazar Br., Lakshmippur
Mirpur Br., Dhaka
Mithachara Br., Ctg.
Moghbazar Br., Dhaka
Motijheel Br., Dhaka
Nanupur Bazar Br., Ctg.
Narayangonj Br., Narayangonj,
Nawabgonj Br., Dhaka
Principal Br., Dhaka
Progoti Shahrani Br., Dhaka
Raipur Br., Laxmipur
Rajshahi Br., Rajshahi
Ramganj Br., Laxmipur
Rangamati Br., Rangamati
Rangpur Br., Rangpur
Ranirhat Br., Rangunia, Ctg
Raozan Br., Raozan, Ctg
Ring Road Br., Shamoli, Dhaka
Satkhira Br., Satkhira.
Shahjadpur SME/Agriculture Br., Sirajgonj
Sherpur Br., Moulvi Bazar
Sirajgonj Br., Sirajgonj
Sitakunda Br., Sitakunda, Ctg.
Sylhet Br., Sylhet
Tipu Sultan Road Br., Dhaka
Tongi SME/Agriculture Br., Dhaka
Uttara Br., Dhaka
NATIONAL BANK LIMITED
Agrabad Br., Ctg.
Anderkilla Br., Ctg.
Asadgate Br., Dhaka
Babubazar Br., Dhaka
Banani Br., Dhaka
Bangshal Road Br., Dhaka
Barisal Br., Brisal
Bogra Br., Bogra
CDA Avenue Br., Ctg.
Chawk Bazar Br., Ctg.
Chowmuhani Br., Noakhali
Comilla Br., Comilla
Dhanmondi Br., Dhaka
Dilkhusha Br., Dhaka
Elephant Road Br., Dhaka
Feni Br., Feni
Foreign Exchange Br., Dhaka
Gazipur Br., Gazipur
Goalchamat Br., Faridpur
Gulshan Br., Dhaka
Halishahar Br., Ctg.
Imamganj Br., Dhaka
Islampur Br., Dhaka
Jatrabari Br., Dhaka
Jubilee Road Br., Ctg.
Kawran Bazar Br., Dhaka
Khatungonj Br., Ctg.
Khulna Br., Khulna
Kishorgonj Br., Kishorgonj
Lake Circus Br., Dhaka
Malibagh Br., Dhaka
Mira Bazar Br. , Sylhet
Mirpur Br., Dhaka
Moakhali Br., Dhaka
Mohammadpur Br., Dhaka
Motijheel Br., Dhaka
Moulvibazar Br., Moulvibazar
Mymensingh Br., Mymensingh
Narayanganj Br., Narayanganj
Narsingdi Br., Narsingdi
Netaiganj Br., Narayanganj
New Eskaton Br., Dhaka
North Book Hall Br., Dhaka
Pagla Bazar Br., Narayanganj
Pahartali Br., Ctg.
Progoti Sarani Br., Dhaka
Rajshahi Br., Rajshahi
Rifles Square Br., Dhaka
Rokeya Sarani Br., Dhaka
S.K. Mojib Road Br., Ctg.
Savar Bazar Br., Savar
Sreenagar Br., Munshigonj
Sunamgonj Br., Sunamgonj
Sylhet Br., Sylhet
Tangail Br., Tangail
Tongi Br., Gazipur
Uttara Br., Dhaka
Z.H. Sikder M.C Br., Dhaka
Zindabazar Br., Sylhet
THE CITY BANK LIMITED
Agrabad Br., Ctg.
Amborkahana Br., Sylhet
Andarkilla Br., Ctg.
B B Avenue Br., Dhaka
Bandar Bazar Br., Sylhet
Bangabandhu Road Br., Narayangonj
Barisal Br., Barisal
Bogra Br., Bogra
Comilla Br., Comilla
Cox’s Bazar Br., Ctg.
Imamgonj Br., Dhaka
Islampur Br., Dhaka
Jessore Br., Jessore
Johnson Road Br., Dhaka
Jubilee Raod Br. Ctg.
Kawran Bazar Br., Dhaka
Khatungonj Br., Ctg.
Khulna Br., Khulna
Moulovi Bazar Br., Sylhet
Narshingdi Br., narshingdi
Nawabgonj Br., Dhaka
Nawabpur Br., Dhaka
New Market Br., Dhaka
Pahartoli Br., Ctg.
Pragati Sarani Br., Dhaka
Principal Office Br., Dhaka
Rajshahi Br., Rajshahi
Rangpur Br., Rangpur
Shyamoli Br., Dhaka
Sirajgonj Br., Sirajgonj
Tongi Br., Gazipur
VIP Road Br., Dhaka
Zinda Bazar Br., Sylhet
Zinzira Br., Dhaka
PREMIER BANK LIMITED
Agrabad Br. Chittagong
Ambarkhana Br. Sylhet
Ashugonj Br. Brahmanbaria- Rural
Ashulia Br. Savar, Dhaka
Askona Br, Dhaka
Bahairab Bazar Br., Kishorgonj-Rural
Banani Br. Dhaka
Banani SME Service Centre, Dhaka
Bangla Bazar SME Service Centre, Dhaka
Bangshal Br. Dhaka
Barisal Br. Barisal
Basundhara Br. Dhaka
Bhaluka Br. Mymenshing
Bhulta Br. (Rural), Narayangonj
Board Bazar Br. Gazipur
Bogra Br. Bogra
Borogola SME/ Agri. Br. Bogra
Brahmanbaria SME/Agri. Br. Brahmanbaria
Chowmuhuni SME/Agri. Br. Noakhali
Comilla Br. Comilla
Cox’s Bazar SME/Agri. Br. Cox’s Bazar
Danga Br. Narshinghdi
DEPZ Br. Dhaka- Rural
Dhanmondi Br. Dhaka
Dhanmondi Satmosjid Road Br. Dhaka
Dilkusha Br. Dhaka
Dilkusha Corporate Br. Dhaka
Donia SME/ Agri. Br. Dhaka
Elephant Road Br. Dhaka
Feni Br. Feni
Gulshan Br. Dhaka
Gulshan Circle-2 Br. Dhaka
Imamgonj Br. Dhaka
Islami Banking Br, Sylhet
Islami Banking Br. Dhaka
Jessore Br. Jessore
Joydebpur Br. Gazipur –Rural
Jubilee Road Br. Chittagong
Kakrail Br. Dhaka
Kalabagan Br. Dhaka
Kawran Bazar Br. Dhaka
Kawran Bazar SME Service Centre, Dhaka
Keranigonj SME/Agri. Br. Dhaka
Khatungonj Br. Chittagong
Khulna Br. Khulna
Kodomtoli Br. Chittagong
Konabari Br. (Rural), Gazipur
Madanpur Br. Narayangonj
Matuail Br. Dhaka
Meghnaghat Br, Narayangonj-Rural
Mohammadpur SME Service Centre, Dhaka
Motijheel Br. Dhaka
Mouchak SME Service Centre, Dhaka
Moulovi Bazar Br. Moulovi Bazar
Munshigonj Br. Munshigonj
Mymenshingh Br. Mymenshing
Narayangonj Br. Narayanganj
Narsingdi Br. Narsigndi
Nawabpur Road Br. Dhaka
Nazirhat Br. Chittagong
Dhaka New Market Br. Dhaka
O.R. Nizam Road Br, Chittagong
Pagla Br., Narayangonj
Pahartoli Br. Chittagong
Panthapath Br. Dhaka
Rajshahi Br. Rajshahi
Rampura Br. Dhaka
Rangpur Br. Rangpur
Rokeya Sarani Br. Dhaka
Savar Br. Savar
Shymoli Br. Dhaka
Sirajgonj SME/Agri. Br. Sirajgonj
Tangail Br. Tangail
Tongi Br. Gazipur –Rural
Uttara Br. Dhaka
Zinzira Br. Dhaka- Rural
BRAC BANK LIMITED
Agrabad Br., Ctg.
Asad Gate Br., Dhaka
Banani Br., Dhaka
Barisal Br., Barisal
Bashundhara Br., Dhaka
Bogra Br., Bogra
CDA Avenue Br., Ctg.
Donia Br., Dhaka
Eskaton Br., Dhaka
Gulshan Br., Dhaka
Halishahar Br., Ctg.
Jessore Br., Jessore
Kazirdeuri Br., Ctg.
Khulna Br., Khulna
Manda Br., Dhaka
Mirpur Br., Dhaka
Momin Road Br., Ctg.
Narayanganj Br., Narayanganj
Nawabpur Br., Dhaka
Rajshahi Br., Rajshahi
Rampura Br.,Dhaka
Shyamoli Br., Dhaka
Uttara Br., Dhaka
Zindabazar Br., Sylhet
Export Import Bank of Bangladesh Limited
Agrabad Br., Ctg.
Banani Br., Dhaka
Barisal Br., Barisal
Bashundhara Road Br., Dhaka
Bogra Br., Bogra
Chagalnaiya Br., Feni
Elephant Road Br., Dhaka
Gazipur Chowrasta, Br., Gazipur
Gulshan Br., Dhaka
Head Office Corporate Br., Dhaka
Imamgonj Br., Dhaka
Khatungonj Br., Ctg.
Khulna Br., Khulna
Laksham Br., Comilla
Malibagh Br., Dhaka
Mirpur Br., Dhaka
Motijheel Br., Dhaka
Moulvibazar Br., Dhaka
Mudaforgonj Br., Comilla
Narayanganj Br., Narayanganj
Nawabpur Br., Dhaka
New Eskaton Br., Dhaka
Panthapath Br., Dhaka
Rajshahi Br., Rajshahi
Rajuk Avenue Br., Dhaka
Satmosjid Road Br., Dhaka
Shimrail Br., Narayangonj
Sylhet Br., Sylhet
Uttara Br., Dhaka
NCC Bank Limited
Agrabad Br., Ctg.
Anderkilla, Ctg.
Babubazar Br., Dhaka
Banani Br., Dhaka
Bangshal Br., Dhaka
Barisal Br., Barisal
Bijoynagar Br., Dhaka
Bogra Br., Bogra
CEPZ Br., Chittagong
Chowhatta Br., Sylhet
Chowmuhuni Br., Noakhali
Comilla Br., Comilla
Cox’s Bazar Br., Cox’s Bazar
Dhanmondi Br., Dhaka
Dilkusha Br., Dhaka
Elephant Road Br., Dhaka
Feni Br., Feni
Gulshan Br., Dhaka
Halishahar Br., Chittagong
Islampur Br., Dhaka
Jatrabari Br., Dhaka
Jessore Br., Jessore
Joydevpur Br., Gazipur
Jublee Road Br., Ctg.
Kadamtali Br., Chittagong
Kamal Bazar Br., Chittagong
Kawran Bazar Br., Dhaka
Khatungonj Br., Chittagong
Khulna Br., Khulna
Kustia Br., Kushtia
Laldighirpar Br., Sylhet
Laxmipur Br., Laxmipur
Madaripur Br., Madaripur
Madhunaghat Br., Chittagong
Majirghat Br., Chittagong
Malibagh Br., Dhaka
Maymensingh Br., Maymensingh
Mirpur Br., Dhaka
Mitford Br., Dhaka
Moghbazar Br.,Dhaka
Motijheel Br., Dhaka
Moulvibazar Br., Moulvibazar
Naogaon Br., Naogaon
Narayanganj Br., Narayanganj
Nawabpur Road Br., Dhaka
NCC Bank Bhaban Br., Dhaka
O.R Nizam Road Br., Chittagong
Panthapath Br., Dhaka
Pragoti Sarani Br., Dhaka
Rajshahi Br., Rajshahi
Ramgonj Br., Laxmipur
Rangpur Br., Rangpur
Savar Br., Dhaka
Shyamoli Br., Dhaka
Sonagazi SME/Agri Br., Feni
Tangail Br., Tangail
Uttara Br., Dhaka
Mercantile Bank Limited
Agrabad Br., Ctg.
Banani Br., Dhaka
Barisal Br., Barisal
Bhulta Br., Narayanganj
Bijoynagar Br., Dhaka
Chittagong EPZ Br., Chittagong
Comilla Br., Comilla
Dhanmondi Br., Dhaka
Elephant Road Br., Dhaka
Feni Br., Feni
Gulshan Br., Dhaka
Kawran Bazar Br., Dhaka
Khatungonj Br., Chittagong
Khulna Br., Khulna
Mirpur Br., Dhaka
Mohakhali Br., Dhaka
Motijheel Br., Dhaka
Narayangonj Br., Narayangonj
Nayabazar Br., Dhaka
O.R. Nizam Road Br., Chittagong
Rajshahi Br., Rajshahi
Rampura Br., Dhaka
Rangpur Br., Rangpur
Ring Road Br., Dhaka
Sheikh Mujib Road Br., Chittagong
Subid Bazar Br., Sylhet
Sylhet Br., Sylhet
Uttara Br., Dhaka
Olympic Accessories Limited
Page | 86
PART XXVI: MATERIAL CONTRACTS AND OTHERS
MATERIAL CONTRACTS
The following are material contracts in the ordinary course of business, which have been entered into by
the Company:
(a) Underwriting Agreement between the Company and the Underwriters.
(b) Issue Management Agreement between the Company and Issue Managers, PLFS Investments Limited
& CAPM Advisory Limited.
Copies of the above mentioned contracts and documents and the Consent Order from the Bangladesh
Securities and Exchange Commission may be inspected on any working day during office hours at the
Company’s Registered Office.
COMMISSION TO THE BANKERS TO THE ISSUE
Commission at the rate of 0.10% of the amount collected will be paid to the Bankers to the Issue for the
services to be rendered by them.
Olympic Accessories Limited
Page | 87
PART XXVII: CORPORATE DIRECTORY
Name of the Company : OLYMPIC ACCESSORIES LIMITED (OAL)
Legal Position :
A Private Company Limited by shares registered under Companies Act,
1994 vide Registration no. C- 49349 (1333) of 2003 dated on May 28,
2003 by the Registrar of Joint Stock Companies & Firms. The Company
Converted into public Limited Company on July 02, 2014 and split of
Share value from Tk. 100 to Tk. 10 dated on March 09, 2014.
Date of Incorporation : May 28, 2003
Authorized Capital : Tk.1,550,000,000 divided into 155,000,000 Ordinary Share of Tk.10.00 each
Paid up Capital : Tk.969,100,000 divided into 96,910,000 Ordinary Share of Tk. 10.00 each
Registered Office :
House # 54 (1st Floor), Road # 08, Block # D,
Niketon, Gulshan-1, Dhaka-1212
Tel: +88-02-9861878, Fax: +88-02-9862181
Email: info@olympicaccessoriesbd.com
Web site:www.olympicaccessoriesbd.com
Factory : Bishia Kuribari, Rajendrapur, Gazipur, Bangladesh.
Board of Directors : Five (5) Directors.
Auditors :
AHMED ZAKER & CO.
Chartered Accountants
Shaiham Sky View Tower (2nd Floor), 45 Bijoy Nagar, Dhaka-1000
Tel: +88-02-8391440-3; Fax: +88-02-8391011
Email: azcbangladesh@gmail.com
Tax Consultants : Advocate Md. Mokhlesur Rahman Montu
M.S Plaza (2nd Floor), 82/C-2, Toyenbee Circular Road, Motijheel C/A, Dhaka.
Legal Advisors
:
Mr. Md. Tafazzal Hossain Forhad
Green Delta AIMS Tower, 51-52 Motijheel C/A, Dhaka.
Bankers : Exim Bank Limited, Mercantile Bank Limited, NCC Bank Limited
Company Secretary : Md. Habibullah
*All investors are hereby informed that Md. Habibullah, Company Secretary, would be designated as
Compliance Officer who will monitor the compliance of the acts, rules, regulations, notification,
guidelines, conditions, orders/directions etc. issued by the Commission and/or Stock Exchange(s)
applicable to the conduct of the business activities of the Company so as to promote the interest of the
investors in the security issued by the Company, and for redressing investors’ grievances.
Olympic Accessories Limited
Page | 88
PART XXVIII: Information included as per SEC’s notification no.
SEC/CMRRCD/2008/115/admin/30 dated October 05, 2011
1. Earnings per Share (EPS) on fully diluted basis (The total existing no. of shares):
Particulars Amount in Taka
Net profit after Tax 138,725,348
No. of shares before IPO 96,910,000
Earnings per Share (EPS) 1.43
2. Net profit excluding Extra-ordinary income or non-recurring income coming from other than
core operations:
Particulars Amount in Taka
Net profit before Tax 160,889,652
Less: Other Income -
Net profit before tax except other income 160,889,652
Less: Deferred Tax Expenses 11,332,226
Less: Provision for Taxation 10,832,078
Net profit after tax except other income 138,725,348
3. Earnings per shares excluding extra-ordinary income or non-recurring income coming from
other than core operations:
Particulars Amount in Taka
Net profit before Tax 160,889,652
Less: Other Income -
Net profit before tax except other income 160,889,652
Less: Deferred Tax Expenses 11,332,226
Less: Provision for Taxation 10,832,078
Net profit after tax except other income 138,725,348
No. of shares 96,910,000
Earnings per Share (EPS) 1.43
4. Net Asset Value per Share:
Particulars Amount in Taka
Share Capital 969,100,000
Retained Earnings 614,369,312
Total Shareholders' Equity 1,583,469,312
Total Number of Ordinary Share 96,910,000
Net Assets Value (NAV) at BDT 10.00 per share 16.34
The Company has no Revaluation Reserve.
Olympic Accessories Limited
Page | 89
PART XXIX: APPLICATION FORM
“INTERESTED PERSONS ARE ENTITLED TO A PROSPECTUS, IF THEY SO DESIRE, AND THAT COPIES OF PROSPECTUS MAY BE OBTAINED FROM THE ISSUER AND THE ISSUE MANAGER”
Olympic Accessories Limited
Application Form
APPLICATION FOR SHARES BY INVESTORS OTHER THAN NON-RESIDENT BANGLADESHI(S)
Warning: Please read the instructions on the back of this form. Incorrectly filled applications or application failing to comply with any
instructions therein may be rejected.
The Managing Director
Olympic Accessories Limited Banker’s Sl. No.
House # 54, Road # 08, Block # D,
Niketon, Gulshan-01, Dhaka- 1212
Dear Sir,
I/we apply for and request you to allot me/us the ………. numbers of Shares and I/we agree to accept the same or any smaller number that
may be allotted to me / us upon the terms of the Company's Prospectus approved by the Bangladesh securities and Exchange Commission subject
to the Memorandum and Articles of Association of the company. Further, I/we authorize you to place my /our name (s) on the Register of
Member (s) of the Company and deposit the said ordinary Shares in my/our Beneficiary Owner (BO) Account and/or a Crossed ( A/C
Payee Only ) Cheque in respect of any application money refundable by post/courier at my/our risk to the first applicant's address stated
bellow:
1. No. of ordinary shares ………… of Tk. 10.00 each at par.
2. Total subscription money of the amount of Tk. (in figure) ………………. (in words)………..……….….. only deposited vide Cash/Cheque/Draft/Pay Order
No….……………………………………Dated…..........................................on...…………………………..…….....Bank Limited ……..….……..……Branch.
3.Beneficiary Owner (BO) Account No.
(If you do not mention your valid BO account, your application will be treated as invalid.)
4. I/we agree to fully abide by the instruction given herein.
5. Particulars of Applicant(s):
a) Sole/First Applicant:
Name: Mr./Mrs./Ms.
Father's /Husband's Name:
Mother's Name:
Postal Address:
Occupation: Nationality: BANGLADESHI Telephone No. (If any):
For Refund Warrant: (Application will not be treated as valid if anyone uses a non-scheduled bank. To avoid this complication, investors are
requested not to use the name of any non-scheduled bank) Please write the correct and full name of bank and branch.
For refund purpose: I/We want refund through □ Bank Account* □ Hand Delivery/Courier (Please put tick mark in which refund will be made).The
Applicant shall provide with the same Bank Account number in the application form as it is in the BO account of the applicant.
For Refund Warrant: Applicant’s Bank A/C No.:
Name of the Bank: Branch:
b) Second Applicant:
Name: Mr./Mrs./Ms.
Father's /Husband's Name:
Mother's Name:
Postal Address:
Occupation:- Nationality: BANGLADESHI Telephone No. (If any):
6. I/we hereby declare that I/We have read the Prospectus of OLYMPIC ACCESSORIES LIMITED and have willingly subscribed for……………number of
Ordinary Shares of Tk.10/- each per share on this form.
7. Specimen Signature(s):
1st Applicant: Name( in Block Letters) Signature:
2nd Applicant: Name( in Block Letters) Signature:
*In case of deposit in to the applicants Bank Account, the applicant will bear the applicable charge, if any, of the applicants banker and the issuer shall
simultaneously issue a letter of intimation to the applicant containing, among others, the date and the amount remitted with details of the bank through
and to which bank such remittance has been effected.
…………………………………………………………………………………………………………………………………………………………………………………………
BANKER'S ACKNOWLEDGEMENT
Certified that this Bank has received Tk. (in figure) ………………………. In word..................................................... only from Mr./Mrs./Ms.
…………..…...................……………………………………….…………………………………….……………… being the Application Money for ……………………………….. Nos. Ordinary
Shares of OLYMPIC ACCESSORIES LIMITED.
Banker's Sl. No. Seal and Date
Authorized Signature
(Name & Designation)
"􀅁শয়ার বাজাের িবিনেয়াগ ঝুঁ িকপূণ􀅱, 􀅁জেন ও বুেঝ িবিনেয়াগ ক􀋠ন ।"
Olympic Accessories Limited
Page | 90
INSTRUCTIONS
1. As per provision of Depository Act, 1999 and regulations made there under shares will only be issued in dematerialized condition.
Please mention your BO (Beneficiary Owner) Account number in the application form. If you do not mention your valid BO
(Beneficiary Owner) Account, your application will be treated as invalid.
2. All information must be typed or written in full (in Block letters) in English or in Bengali and must not be abbreviated.
3. Application must be made on the Company’s printed form/photocopy or on typed copy/hand written form thereof.
4. Application must not be for less than 500 Ordinary Shares and must be for a multiple of 500 Ordinary Shares. Any Application not
meeting these criterions will not be considered for allotment purpose.
5. Remittance for the full amount of the Shares must accompany each Application and must be forwarded to any of the Bankers to the
Issue. Remittance should be in the form of Cash/ Cheque/ Bank Draft/ Pay Order payable to one of the Bankers to the Issue
favoring“OLYMPIC ACCESSORIES LIMITED” and crossed “A/C Payee only” and must be drawn on a Bank in the same town as the
Bank to which the Application Form has been sent.
6. In the case of Joint Application Form, the Allotment Letter will be dispatched to the person whose name appears first on this
Application Form and where any amount is refundable in whole or in part the same will be refunded by Account Payee Cheque by
post/courier service to the person named first on this Application Form in the manner prescribed in the Prospectus.
7. Joint Application form for more than two persons will not be accepted. In case of joint Application, each party must sign the
Application Form.
8. Application must be in full name of individuals or companies or societies or trusts and not in the name of firms, minors or persons of
unsound mind. Application from financial and market intermediary companies and Private Company must be accompanied by
Memorandum and Articles of Association and Certificate of Incorporation.
9. An applicant cannot submit more than two applications, one in his/her own name and another jointly with another person. In case, an
applicant submits more than two applications, all applications will be treated as invalid and will not be considered for allotment
purpose. In addition, 15% (fifteen) of the application money will be forfeited by the Commission and the balance amount will be
refunded to the applicant.
10. No receipt will be issued for the payment made with Application, but the bankers will issue a provisional acknowledgment
to the Issue for Application lodged with them.
11. In the case of non-allotment of securities, if the applicants’ bank accounts as mentioned in their IPO Application Forms are
maintained with the Bankers to the Issue, refund amount of those applicants will be directly credited into the respective bank
accounts as mentioned in their IPO Application Forms. Otherwise, refund will be made only through “Account Payee” cheque(s)
showing bank account number and the name of bank and branch as mentioned in the application payable at Dhaka or Chittagong,
as the case may be.
12. Allotment shall be made solely in accordance with the instructions of the Bangladesh Securities and Exchange Commission (BSEC).
13. Making of any false statement in the application or supplying of incorrect information therein or suppressing any relevant
information in the application shall make the application liable to rejection and subject to forfeiture of 25% of application
money and/or forfeiture of share (unit) before or after issuance of the same by the issuer. The said forfeited application
money or share (unit) will be deposited in account of the Bangladesh Securities and Exchange Commission (BSEC). This is
in addition to any other penalties as may be provided for by the law.
14. Applications, which do not meet the above requirements, or Applications, which are incomplete, shall not be considered for
allotment purpose.
15. The Banker’s to the Issue shall be obliged to receive the A/C Payee Cheque(s) on the closing day of the subscription of the IPO.
16. No sale of securities shall be made nor shall any money be taken from any person, in connection with such sale until 25
(twenty five) days after the prospectus has been published.
17. The applicants who have applied for more than two applications using same bank account, their application will not be considered for
lottery and the Commission will forfeit 15% of their subscription money too.
Olympic Accessories Limited
Page | 91
Bankers to the issue:
MUTUAL TRUST BANK LIMITED
Alankar Mour Br., Ctg.
Aman Bazar Br., Ctg.
Babu Bazar Br., Dhaka
Banani Br., Dhaka
Baridhara Br., Dhaka
Bashundhara Br., Dhaka
Bogra Br., Bogra
Brahmanbaria Br., Brahmanbaria
Chandra Br., Dhaka
Chawk Moghaltuli Br., Dhaka
Comilla Br., Comilla
Cox's Bazar Br., Cox's Bazar
Dagonbhuiyan Br., Feni
Dania Br., Dhaka
Dhanmondi Br., Dhaka
Dilkusha Br., Dhaka
Dinajpur Br., Dinajpur
Elephant Road Br., Dhaka
Feni Br., Feni
Gobindaganj Br., Gobindaganj
Gulshan Br., Dhaka
Habigonj Br., Habigonj
Jessore Br., Jessore
Kakrail Br., Dhaka
Kalurghat I/A Br., Ctg.
Kamrangir Char Br., Dhaka
Kapasia Br., Gazipur, Dhaka
Khatungonj Br., Ctg.
Kushtia Br., Kushtia
Mirpur Br., Dhaka
Mohammadpur Br., Dhaka
Moulvi Bazar Br., Sylhet
MTB Corporate Center Br., Dhaka
Mymensingh Br., Mymensingh
Narayangonj Br., Narayangonj
Nazirhat Br., Ctg.
Pabna Br., Pabna
Pallabi Br., Dhaka
Panthapath Br., Dhaka
Principal Br., Dhaka
Progati Sarani Br., Dhaka
Raipur Br., Laxmipur
Rajshahi Br., Rajshahi
Rangpur Br., Rangpur
Sarulia Bazar Br., Dhaka
Shah Mokhdum Avenue Br., Dhaka
Shahparan Gate Br., Sylhet
Sirajganj Br., Rajshahi
Sreenagar Br., Dhaka
Sylhet Br., Sylhet
Thakurgaon Br., Thakurgaon
Tongi Br., Dhaka
INVESTMENT CORPORATION OF BANGLADESH
Barisal Br., Brisal
Bogra Br., Bogra
Chittagong Br., Chittagong
Head Office, Dhaka
Khulna Br., Khulna
Local Office, Dhaka
Rajshahi Br., Rajshahi
Sylhet Br., Sylhet
ONE BANK LIMITED
Agrabad Br., Ctg.
Amishapara Br., Noakhali
Anderkilla Br., Ctg.
Anowara Br., Ctg.
Banani Br., Dhaka
Banasree Br., Dhaka
Bangshal Br., Dhaka
Barisal Br., Barisal
Bashabo Br., Dhaka
Boalkhali Br., Boalkhali, Ctg.
Bogra Br., Bogra
Brahmanbaria Br., Brahmanbaria
CDA Avenue Br., Ctg.
Chandgaon Br., Ctg.
Chandragonj Br., Lakshmipur
Chaprashir Hat SME/Agree Br.
Chowmuhuni Br., Noakhali
Comilla Br., Comilla
Cox’S Bazar Br., Cox’S Bazar
Dagon Bhuiyan Br., Feni
Dhanmondi Br., Dhaka
Dovashi Bazar Br., Ctg.
Elephant Road Br., Dhaka
Feni Br., Feni
Ganakbari (EPZ) Br., Savar, Dhaka
Gulshan Br., Dhaka
Halishahar Br., Ctg.
Hathazari Br., Ctg.
Imamganj Br., Dhaka
Islampur Br., Sylhet
Jagannathpur Br., Dhaka
Jatrabari Br., Dhaka
Jessore Br., Jessore
Joypara Br., Dohar, Dhaka
Jubille Road Br., Ctg.
Kakrail Br., Dhaka
Kawran Bazar Br., Dhaka
Khatungonj Br., Ctg.
Khulna Br., Khulna
Kushtia Br., Kushtia
Laksham Br., Comilla
Lakshmipur SME/Agriculture Br.
Lalbagh Br., Dhaka
Laldighirpar Br., Sylhet
Madhabdi Br., Narsingdi
Maijdee Court Br., Noakhali
Mandari Bazar Br., Lakshmippur
Mirpur Br., Dhaka
Mithachara Br., Ctg.
Moghbazar Br., Dhaka
Motijheel Br., Dhaka
Nanupur Bazar Br., Ctg.
Narayangonj Br., Narayangonj,
Nawabgonj Br., Dhaka
Principal Br., Dhaka
Progoti Shahrani Br., Dhaka
Raipur Br., Laxmipur
Rajshahi Br., Rajshahi
Ramganj Br., Laxmipur
Rangamati Br., Rangamati
Rangpur Br., Rangpur
Ranirhat Br., Rangunia, Ctg
Raozan Br., Raozan, Ctg
Ring Road Br., Shamoli, Dhaka
Satkhira Br., Satkhira.
Shahjadpur SME/Agriculture Br., Sirajgonj
Sherpur Br., Moulvi Bazar
Sirajgonj Br., Sirajgonj
Sitakunda Br., Sitakunda, Ctg.
Sylhet Br., Sylhet
Tipu Sultan Road Br., Dhaka
Tongi SME/Agriculture Br., Dhaka
Uttara Br., Dhaka
NATIONAL BANK LIMITED
Agrabad Br., Ctg.
Anderkilla Br., Ctg.
Asadgate Br., Dhaka
Babubazar Br., Dhaka
Banani Br., Dhaka
Bangshal Road Br., Dhaka
Barisal Br., Brisal
Bogra Br., Bogra
CDA Avenue Br., Ctg.
Chawk Bazar Br., Ctg.
Chowmuhani Br., Noakhali
Comilla Br., Comilla
Dhanmondi Br., Dhaka
Dilkhusha Br., Dhaka
Elephant Road Br., Dhaka
Feni Br., Feni
Foreign Exchange Br., Dhaka
Gazipur Br., Gazipur
Goalchamat Br., Faridpur
Gulshan Br., Dhaka
Halishahar Br., Ctg.
Imamganj Br., Dhaka
Islampur Br., Dhaka
Jatrabari Br., Dhaka
Jubilee Road Br., Ctg.
Kawran Bazar Br., Dhaka
Khatungonj Br., Ctg.
Khulna Br., Khulna
Kishorgonj Br., Kishorgonj
Lake Circus Br., Dhaka
Malibagh Br., Dhaka
Mira Bazar Br. , Sylhet
Mirpur Br., Dhaka
Moakhali Br., Dhaka
Mohammadpur Br., Dhaka
Motijheel Br., Dhaka
Moulvibazar Br., Moulvibazar
Mymensingh Br., Mymensingh
Narayanganj Br., Narayanganj
Narsingdi Br., Narsingdi
Netaiganj Br., Narayanganj
New Eskaton Br., Dhaka
North Book Hall Br., Dhaka
Pagla Bazar Br., Narayanganj
Pahartali Br., Ctg.
Progoti Sarani Br., Dhaka
Rajshahi Br., Rajshahi
Rifles Square Br., Dhaka
Rokeya Sarani Br., Dhaka
S.K. Mojib Road Br., Ctg.
Savar Bazar Br., Savar
Sreenagar Br., Munshigonj
Sunamgonj Br., Sunamgonj
Sylhet Br., Sylhet
Tangail Br., Tangail
Tongi Br., Gazipur
Uttara Br., Dhaka
Z.H. Sikder M.C Br., Dhaka
Zindabazar Br., Sylhet
THE CITY BANK LIMITED
Agrabad Br., Ctg.
Amborkahana Br., Sylhet
Andarkilla Br., Ctg.
B B Avenue Br., Dhaka
Bandar Bazar Br., Sylhet
Bangabandhu Road Br., Narayangonj
Barisal Br., Barisal
Bogra Br., Bogra
Comilla Br., Comilla
Cox’s Bazar Br., Ctg.
Imamgonj Br., Dhaka
Islampur Br., Dhaka
Jessore Br., Jessore
Johnson Road Br., Dhaka
Jubilee Raod Br. Ctg.
Kawran Bazar Br., Dhaka
Khatungonj Br., Ctg.
Khulna Br., Khulna
Moulovi Bazar Br., Sylhet
Narshingdi Br., narshingdi
Nawabgonj Br., Dhaka
Nawabpur Br., Dhaka
New Market Br., Dhaka
Pahartoli Br., Ctg.
Pragati Sarani Br., Dhaka
Principal Office Br., Dhaka
Rajshahi Br., Rajshahi
Rangpur Br., Rangpur
Shyamoli Br., Dhaka
Sirajgonj Br., Sirajgonj
Tongi Br., Gazipur
VIP Road Br., Dhaka
Zinda Bazar Br., Sylhet
Zinzira Br., Dhaka
PREMIER BANK LIMITED
Agrabad Br. Chittagong
Ambarkhana Br. Sylhet
Ashugonj Br. Brahmanbaria- Rural
Ashulia Br. Savar, Dhaka
Askona Br, Dhaka
Bahairab Bazar Br., Kishorgonj-Rural
Banani Br. Dhaka
Banani SME Service Centre, Dhaka
Bangla Bazar SME Service Centre, Dhaka
Bangshal Br. Dhaka
Barisal Br. Barisal
Basundhara Br. Dhaka
Bhaluka Br. Mymenshing
Bhulta Br. (Rural), Narayangonj
Board Bazar Br. Gazipur
Bogra Br. Bogra
Borogola SME/ Agri. Br. Bogra
Brahmanbaria SME/Agri. Br. Brahmanbaria
Chowmuhuni SME/Agri. Br. Noakhali
Comilla Br. Comilla
Cox’s Bazar SME/Agri. Br. Cox’s Bazar
Danga Br. Narshinghdi
DEPZ Br. Dhaka- Rural
Dhanmondi Br. Dhaka
Dhanmondi Satmosjid Road Br. Dhaka
Dilkusha Br. Dhaka
Dilkusha Corporate Br. Dhaka
Donia SME/ Agri. Br. Dhaka
Elephant Road Br. Dhaka
Feni Br. Feni
Gulshan Br. Dhaka
Gulshan Circle-2 Br. Dhaka
Imamgonj Br. Dhaka
Islami Banking Br, Sylhet
Islami Banking Br. Dhaka
Jessore Br. Jessore
Joydebpur Br. Gazipur –Rural
Jubilee Road Br. Chittagong
Kakrail Br. Dhaka
Kalabagan Br. Dhaka
Kawran Bazar Br. Dhaka
Kawran Bazar SME Service Centre, Dhaka
Keranigonj SME/Agri. Br. Dhaka
Khatungonj Br. Chittagong
Khulna Br. Khulna
Kodomtoli Br. Chittagong
Konabari Br. (Rural), Gazipur
Madanpur Br. Narayangonj
Matuail Br. Dhaka
Meghnaghat Br, Narayangonj-Rural
Mohammadpur SME Service Centre, Dhaka
Motijheel Br. Dhaka
Mouchak SME Service Centre, Dhaka
Moulovi Bazar Br. Moulovi Bazar
Munshigonj Br. Munshigonj
Mymenshingh Br. Mymenshing
Narayangonj Br. Narayanganj
Narsingdi Br. Narsigndi
Nawabpur Road Br. Dhaka
Nazirhat Br. Chittagong
Dhaka New Market Br. Dhaka
O.R. Nizam Road Br, Chittagong
Pagla Br., Narayangonj
Pahartoli Br. Chittagong
Panthapath Br. Dhaka
Rajshahi Br. Rajshahi
Rampura Br. Dhaka
Rangpur Br. Rangpur
Rokeya Sarani Br. Dhaka
Savar Br. Savar
Shymoli Br. Dhaka
Sirajgonj SME/Agri. Br. Sirajgonj
Tangail Br. Tangail
Tongi Br. Gazipur –Rural
Uttara Br. Dhaka
Zinzira Br. Dhaka- Rural
BRAC BANK LIMITED
Agrabad Br., Ctg.
Asad Gate Br., Dhaka
Banani Br., Dhaka
Barisal Br., Barisal
Bashundhara Br., Dhaka
Bogra Br., Bogra
CDA Avenue Br., Ctg.
Donia Br., Dhaka
Eskaton Br., Dhaka
Gulshan Br., Dhaka
Halishahar Br., Ctg.
Jessore Br., Jessore
Kazirdeuri Br., Ctg.
Khulna Br., Khulna
Manda Br., Dhaka
Mirpur Br., Dhaka
Momin Road Br., Ctg.
Narayanganj Br., Narayanganj
Nawabpur Br., Dhaka
Rajshahi Br., Rajshahi
Rampura Br.,Dhaka
Shyamoli Br., Dhaka
Uttara Br., Dhaka
Zindabazar Br., Sylhet
Export Import Bank of Bangladesh Limited
Agrabad Br., Ctg.
Banani Br., Dhaka
Barisal Br., Barisal
Bashundhara Road Br., Dhaka
Bogra Br., Bogra
Chagalnaiya Br., Feni
Elephant Road Br., Dhaka
Gazipur Chowrasta, Br., Gazipur
Gulshan Br., Dhaka
Head Office Corporate Br., Dhaka
Imamgonj Br., Dhaka
Khatungonj Br., Ctg.
Khulna Br., Khulna
Laksham Br., Comilla
Malibagh Br., Dhaka
Mirpur Br., Dhaka
Motijheel Br., Dhaka
Moulvibazar Br., Dhaka
Mudaforgonj Br., Comilla
Narayanganj Br., Narayanganj
Nawabpur Br., Dhaka
New Eskaton Br., Dhaka
Panthapath Br., Dhaka
Rajshahi Br., Rajshahi
Rajuk Avenue Br., Dhaka
Satmosjid Road Br., Dhaka
Shimrail Br., Narayangonj
Sylhet Br., Sylhet
Uttara Br., Dhaka
NCC Bank Limited
Agrabad Br., Ctg.
Anderkilla, Ctg.
Babubazar Br., Dhaka
Banani Br., Dhaka
Bangshal Br., Dhaka
Barisal Br., Barisal
Bijoynagar Br., Dhaka
Bogra Br., Bogra
CEPZ Br., Chittagong
Chowhatta Br., Sylhet
Chowmuhuni Br., Noakhali
Comilla Br., Comilla
Cox’s Bazar Br., Cox’s Bazar
Dhanmondi Br., Dhaka
Dilkusha Br., Dhaka
Elephant Road Br., Dhaka
Feni Br., Feni
Gulshan Br., Dhaka
Halishahar Br., Chittagong
Islampur Br., Dhaka
Jatrabari Br., Dhaka
Jessore Br., Jessore
Joydevpur Br., Gazipur
Jublee Road Br., Ctg.
Kadamtali Br., Chittagong
Kamal Bazar Br., Chittagong
Kawran Bazar Br., Dhaka
Khatungonj Br., Chittagong
Khulna Br., Khulna
Kustia Br., Kushtia
Laldighirpar Br., Sylhet
Laxmipur Br., Laxmipur
Madaripur Br., Madaripur
Madhunaghat Br., Chittagong
Majirghat Br., Chittagong
Malibagh Br., Dhaka
Maymensingh Br., Maymensingh
Mirpur Br., Dhaka
Mitford Br., Dhaka
Moghbazar Br.,Dhaka
Motijheel Br., Dhaka
Moulvibazar Br., Moulvibazar
Naogaon Br., Naogaon
Narayanganj Br., Narayanganj
Nawabpur Road Br., Dhaka
NCC Bank Bhaban Br., Dhaka
O.R Nizam Road Br., Chittagong
Panthapath Br., Dhaka
Pragoti Sarani Br., Dhaka
Rajshahi Br., Rajshahi
Ramgonj Br., Laxmipur
Rangpur Br., Rangpur
Savar Br., Dhaka
Shyamoli Br., Dhaka
Sonagazi SME/Agri Br., Feni
Tangail Br., Tangail
Uttara Br., Dhaka
Mercantile Bank Limited
Agrabad Br., Ctg.
Banani Br., Dhaka
Barisal Br., Barisal
Bhulta Br., Narayanganj
Bijoynagar Br., Dhaka
Chittagong EPZ Br., Chittagong
Comilla Br., Comilla
Dhanmondi Br., Dhaka
Elephant Road Br., Dhaka
Feni Br., Feni
Gulshan Br., Dhaka
Kawran Bazar Br., Dhaka
Khatungonj Br., Chittagong
Khulna Br., Khulna
Mirpur Br., Dhaka
Mohakhali Br., Dhaka
Motijheel Br., Dhaka
Narayangonj Br., Narayangonj
Nayabazar Br., Dhaka
O.R. Nizam Road Br., Chittagong
Rajshahi Br., Rajshahi
Rampura Br., Dhaka
Rangpur Br., Rangpur
Ring Road Br., Dhaka
Sheikh Mujib Road Br., Chittagong
Subid Bazar Br., Sylhet
Sylhet Br., Sylhet
Uttara Br., Dhaka
Olympic Accessories Limited
Page | 92
“INTERESTED PERSONS ARE ENTITLED TO A PROSPECTUS, IF THEY SO DESIRE, AND THAT COPIES OF PROSPECTUS MAY BE OBTAINED FROM THE ISSUER AND THE ISSUE MANAGER”
Olympic Accessories Limited
Application Form
APPLICATION FOR SHARES BY NON-RESIDENT BANGLADESHI(S)
(To be sent to the Company’s Head Office)
Warning: Please read the instructions on the back of this form. Incorrectly filled applications or application failing to comply with any
instructions therein may be rejected.
The Managing Director
Olympic Accessories Limited
Banker’s Sl. No.
House # 54, Road # 08, Block # D,
Niketon, Gulshan-01, Dhaka- 1212
Dear Sir,
I/we apply for and request you to allot me/us the ………. numbers of Shares and I/we agree to accept the same or any smaller number that
may be allotted to me / us upon the terms of the Company's Prospectus approved by the Bangladesh securities and Exchange Commission subject
to the Memorandum and Articles of Association of the company. Further, I/we authorize you to place my /our name (s) on the Register of
Member (s) of the Company and deposit the said ordinary Shares in my/our Beneficiary Owner (BO) Account and/or a Crossed (A/C Payee
Only)Cheque in respect of any application money refundable by post/courier at my/our risk to the first applicant's address stated bellow:
1. No. of ordinary shares ……….. of Tk.10.00 each at par.
2. Total subscription money of the amount of TK. (in figure) ……………………….…… BDT (in words) …………………….only convertible into US Dollar 1.00 =
BDT............., and UK Pound Sterling 1.00= BDT…………………...and Euro 1.00 = BDT.............................Payment by Draft/Cheque
No..................................date……………..........................for US Dollar/UK Pound Sterling/Euro BDT…………………………………………………drawn
on...................................................Bank........................................Branch.
3.Beneficiary Owner (BO) Account No.
(If you do not mention your valid BO account, your application will be treated as invalid.)
4. I/we agree to fully abide by the instruction given herein.
5. Particulars of Applicant(s):
a) Sole/First Applicant:
Name: Mr./Mrs./Ms.
Father's /Husband's Name:
Mother's Name:
Postal Address:
Occupation: Nationality: Telephone No. (If any):
Passport No.: Valid up to: Date of Birth:
For Refunds: Please write the correct and full name of bank and branch (Application will not be treated as valid if any one uses a
nonscheduled bank. Applicants are requested not to use the name of any non-scheduled bank).
For Refund Warrant: Applicant’s Bank A/C No.:
Name of the Bank: Branch:
The Applicant shall provide with the same Bank Account number in the application form as it is in the BO account of the applicant.
b) Second Applicant:
Name: Mr./Mrs./Ms.
Father's /Husband's Name:
Mother's Name:
Postal Address:
Occupation: Nationality: Telephone No. (If any):
Passport No.: Valid up to: Date of Birth:
Nominee’s Name:
Mailing Address:
06. I/we hereby declare that I/we have read the Prospectus of OLYMPIC ACCESSORIES LIMITED and have willingly subscribed for……….number of
ordinary Shares of Tk.10/- each per share on this form.
07. Specimen Signature(s):
1st Applicant: Name( in Block Letters) Signature:
2nd Applicant: Name( in Block Letters) Signature:
Nominee’s Name: ( in Block Letters) Signature:
*Please see the instruction in paragraphs 14 & 15 for the evidence required to establish Non-Resident Bangladeshis Status.
"􀅁শয়ার বাজাের িবিনেয়াগ ঝুঁ িকপূণ􀅱, 􀅁জেন ও বুেঝ িবিনেয়াগ ক􀋠ন ।"
Olympic Accessories Limited
Page | 93
INSTRUCTIONS
1. As per provision of the Depository Act, 1999 and regulations made there under shares will only be issued in dematerialized condition. Please mention your BO
(Beneficiary Owner) account number in the Application Form. If you do not mention your valid BO (Beneficiary Owner) account, your application will be treated as
invalid.
2. All information must be written or typed in block letters in English and must not be abbreviated.
3. An application must not be for less than 500 Ordinary Shares and must be for a multiple of 500 ordinary shares. Any application not meeting this criterion will not
be considered for allotment purpose.
4. An application must be accompanied by a foreign demand draft drawn on a bank payable at Dhaka or cheque drawn out of foreign currency deposit account
maintained in Bangladesh for the full value of shares favoring “OLYMPIC ACCESSORIES LIMITED” and crossed “Account Payee only”.
5. An application shall be sent by the applicant directly to the Company within April 23, 2015 so as to reach the Company within May 02, 2015. Any Application
sent after April 23, 2015 or received by the Company after May 02, 2015 will not be considered for allotment purpose.
6. Refund against over-subscription shall be made in the currency in which the value of shares was paid for by the applicant at the same rate as stated on the
application form through Account Payee cheque payable at Dhaka with bank account number, Bank’s name and Branch as indicated in the securities application
form.
7. In case of over-subscription, allotment shall be made by lottery solely in accordance with the instructions by BSEC.
8. Money receipt on clearance of draft or cheque, as the case may be, shall be sent by post to the applicant by the Company.
9. Joint application by two persons will be acceptable. In such a case, allotment or refund shall be made to the first applicant. Note that a non-resident
Bangladeshi (NRB) applicant cannot submit more than two applications, one in his/her own name and another jointly with another person by one
cheque/DD/PO by USD/GBP/EURO/BDT (supported by foreign currency encasement certificate, ORIGINAL). More than two applications by one
cheque/DD/PO by USD/GBP/EURO/BDT (supported by foreign currency encasement certificate) will not be allowed.
10. Application must be made by an individual, a corporation or company, a trust or a society and not by a firm, minor or persons of unsound mind.
11. Making of any false statement in the application or supplying of incorrect information therein or suppressing any relevant information in
the application shall make the application liable to rejection and subject to forfeiture of 25% of application money and/or forfeiture of
share (unit) before or after issuance of the same by the issuer. The said forfeited application money or share (unit) will be deposited
in account of the Bangladesh Securities and Exchange Commission (BSEC). This is in addition to any other penalties as may be provided
for by the law.
12. The intending NRB applicants shall deposit share money by US Dollar/UK Pound Sterling/EURO demand draft drawn on any Bank and payable in Dhaka,
Bangladesh, or through a nominee by paying out of foreign currency deposit account maintained in Bangladesh or in Taka, supported by foreign currency
encashment certificate issued by the concerned bank, for the value of securities applied for through crossed bank cheque marking “Account Payee only”. So that
the issuer’s collecting bank can clear the proceeds and deposit the same into issuer bank’s account in time.
13. The spot buying rate (TT Clean) in US Dollar, UK Pound Sterling and EURO of Sonali Bank as prevalent at the day of subscription opening will be applicable for the
Non Resident Bangladeshi (NRB) applicants.
14. The applicant shall furnish photocopies of relevant pages of valid passports in support of his/her being a NRB, dual citizenship or of the foreign
passport bearing an endorsement from the concerned Bangladeshi Embassy to the effect that no visa is required for him / her to travel to Bangladesh.
15. In case of joint NRB application, joint applicants shall also submit supporting papers /documents in support of their being a NRB as mentioned in para-14 (above).
16. An applicant cannot submit more than two applications, one in his/her own name and another jointly with another person. In case, an applicant
submits more than two applications, all applications will be treated as invalid and will not be considered for allotment purpose. In addition, 15%
(fifteen) of the application money will be forfeited by the Commission and the balance amount will be refunded to the applicant.
17. No sale of securities shall be made nor shall any money be taken from any person, in connection with such sale until 25 (twenty five) days after the
prospectus have been published.
18. In case of non-allotment of ordinary shares, if the applicants’ bank accounts as mentioned in their Application Forms are maintained with any of the Bankers to the
Issue, the refunded amount to those applicants will be directly credited into their respective bank accounts as mentioned in their Application Forms. Otherwise,
refunds will be made only through “Account Payee” cheque(s) with bank account number and name of bank branch as mentioned in the application form,
payable at Dhaka or Chittagong, Khulna, Barishal, Rajshahi, Sylhetor Bogra as the case may be.
19. The applicants who have applied for more than two applications using same bank account, their application will not be considered for lottery and the
Commission will forfeit 15% of their subscription money too.
THE NRB APPLICATION ALONG WITH THE FOREIGN CURRENCY DRAFT, AS ABOVE, IS TO BE SUBMITTED TO THE COMPANY’S HEAD OFFICE
DIRECTLY WITHIN THE STIPULATED TIME MENTIONED IN PARA 5.
Olympic Accessories Limited
Page | 94
“INTERESTED PERSONS ARE ENTITLED TO A PROSPECTUS, IF THEY SO DESIRE, AND THAT COPIES OF PROSPECTUS MAY BE OBTAINED FROM THE ISSUER AND THE ISSUE MANAGER”
Olympic Accessories Limited
Application Form
APPLICATION FOR SHARES BY AFFECTED SMALL INVESTORS (¶wZMÖ¯’ ¶z`ª wewb‡qvMKvix)
Warning: Please read the instructions on the back of this form. Incorrectly filled applications or application failing to comply with any
instructions therein may be rejected.
Managing Director
Olympic Accessories Limited
Banker’s Sl. No.
House # 54, Road # 08, Block # D,
Niketon, Gulshan-01, Dhaka- 1212
Dear Sir,
I/we apply for and request you to allot me/us the ………. numbers of Shares and I/we agree to accept the same or any smaller number that
may be allotted to me / us upon the terms of the Company's Prospectus approved by the Bangladesh securities and Exchange Commission subject
to the Memorandum and Articles of Association of the company. Further, I/we authorize you to place my /our name (s) on the Register of
Member (s) of the Company and deposit the said ordinary Shares in my/our Beneficiary Owner (BO) Account and/or a Crossed ( A/C
Payee Only ) Cheque in respect of any application money refundable by post/courier at my/our risk to the first applicant's address stated
bellow:
1. No. of ordinary shares ………… of Tk. 10.00 each at par.
2. Total subscription money of the amount of Tk. (in figure) ………………. (in words)……………………………………..……….….. only deposited vide Cash/Cheque/
Draft/Pay Order No. ……………………….…….……Dated…..........................................on...…………………………..…….....Bank Limited ……..….……..……Branch.
3.Beneficiary Owner (BO) Account No.
(If you do not mention your valid BO account, your application will be treated as invalid.)
4. I/we agree to fully abide by the instruction given herein.
5. Particulars of Applicant(s):
a) Sole/First Applicant:
Name: Mr./Mrs./Ms.
Father's /Husband's Name:
Mother's Name:
Postal Address:
Occupation: Nationality: BANGLADESHI Telephone No. (If any):
For Refund Warrant: (Application will not be treated as valid if anyone uses a non-scheduled bank. To avoid this complication, investors are
requested not to use the name of any non-scheduled bank) Please write the correct and full name of bank and branch.
For refund purpose: I/We want refund through □ Bank Account* □ Hand Delivery/Courier (Please put tick mark in which refund will be made).The
Applicant shall provide with the same Bank Account number in the application form as it is in the BO account of the applicant.
For Refund Warrant: Applicant’s Bank A/C No.:
Name of the Bank: Branch:
b) Second Applicant:
Name: Mr./Mrs./Ms.
Father's /Husband's Name:
Mother's Name:
Postal Address:
Occupation:- Nationality: BANGLADESHI Telephone No. (If any):
6. I/we hereby declare that I/We have read the Prospectus of OLYMPIC ACCESSORIES LIMITED and have willingly subscribed for…………… number of
Ordinary Shares of Tk.10/- each per share on this form.
7. Specimen Signature(s):
1st Applicant: Name( in Block Letters) Signature:
2nd Applicant: Name( in Block Letters) Signature:
*In case of deposit in to the applicants Bank Account, the applicant will bear the applicable charge, if any, of the applicants banker and the issuer shall
simultaneously issue a letter of intimation to the applicant containing, among others, the date and the amount remitted with details of the bank through
and to which bank such remittance has been effected.
………………………………………………………………………………………………………………………………………………………………………
BANKER'S ACKNOWLEDGEMENT
Certified that this Bank has received Tk. (in figure) ………………………. In word..................................................... only from Mr./Mrs./Ms.
…………..…...................……………………………………….…………………………………….……………… being the Application Money for ……………………………….. Nos. Ordinary
Shares of OLYMPIC ACCESSORIES LIMITED.
Banker's Sl. No. Seal and Date
Authorized Signature
(Name & Designation)
"􀅁শয়ার বাজাের িবিনেয়াগ ঝুঁ িকপূণ􀅱, 􀅁জেন ও বুেঝ িবিনেয়াগ ক􀋠ন ।"
Olympic Accessories Limited
Page | 95
INSTRUCTIONS
1. As per provision of the Depository Act, 1999 and regulations made there under shares will only be issued in dematerialized condition.
Please mention your BO (Beneficiary Owner) account number in the Application Form. If you do not mention your valid BO (Beneficiary
Owner) Account, your application will be treated as invalid.
2. All information must be typed or written in full (in block letters) in English or in Bengali and must not be abbreviated.
3. Application must be made on the Company’s printed form/photocopy or on typed copy/hand written form thereof.
4. Application must not be for less than 500 ordinary shares and must be for a multiple of 500 ordinary shares. Any application not meeting
these criterions will not be considered for allotment purpose.
5. Remittance for the full amount of the shares must accompany each application and must be forwarded to any of the Bankers’ to the Issue.
Remittance should be in the form of cash/cheque/bank draft/pay order payable to one of the Bankers’ to the Issue favoring “OLYMPIC
ACCESSORIES LIMITED” and crossed “A/C Payee only” and must be drawn on a bank in the same town as the bank to which the
application form has been sent.
6. In the case of a joint application form, the Allotment letter will be dispatched to the person whose name appears first on this application
form and where amount is refundable in whole or in part the same will be refunded by Account Payee cheque by post/courier service to
the person named first on this application form in the manner prescribed in the Prospectus.
7. Joint Application form for more than two persons will not be accepted. In case of joint Application, each party must sign the
Application Form.
8. Applications must be in the full name of individuals or companies or societies or trusts and not in the name of firms, minors or persons of
unsound mind. Application from financial and market intermediary companies and private companies must be accompanied by
Memorandum of Association and Articles of Associations and Certificate of Incorporation.
9. An applicant cannot submit more than two applications, one in his/her own name and another jointly with another person. In
case, an applicant submits more than two applications, all applications will be treated as invalid and will not be considered for
allotment purpose. In addition, 15% (fifteen) of the application money will be forfeited by the Commission and the balance
amount will be refunded to the applicant.
10. No receipt will be issued for the payment made with application, but the bankers will issue a provisional acknowledgement to the issue for
application lodged with them.
11. In the case of non-allotment of securities, if the applicants’ bank accounts as mentioned in their IPO Application Forms are maintained with
the Bankers to the Issue, refund amount of those applicants will be directly credited into the respective bank accounts as mentioned in
their IPO Application Forms. Otherwise, refund will be made only through “Account Payee” cheque(s) showing bank account number and
name of bank and branch as mentioned in the application payable at Dhaka or Chittagong, as the case may be.
12. Allotment shall be made solely in accordance with the instructions of the Bangladesh Securities and Exchange Commission (BSEC).
13. Making of any false statement in the application or supplying of incorrect information therein or suppressing any relevant
information in the application shall make the application liable to rejection and subject to forfeiture of 25% of application
money and/or forfeiture of share (unit) before or after issuance of the same by the issuer. The said forfeited application
money or share (unit) will be deposited in account of the Bangladesh Securities and Exchange Commission (BSEC). This is in
addition to any other penalties as may be provided for by the law.
14. Applications which do not meet the above requirements, or applications, which are incomplete, shall not be considered for allotment
purpose.
15. The Bankers’ to the Issue shall be obliged to receive the A/C Payee Cheque(s) on the closing day of the subscription of the IPO.
16. No sale of securities shall be made nor shall any money be taken from any person, in connection with such sale until twenty five
days after the prospectus have been published.
17. The applicants who have applied for more than two applications using same bank account, their application will not be
considered for lottery and the Commission will forfeit 15% of their subscription money too.
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Olympic Accessories Limited
Page | 96
Bankers to the issue:
MUTUAL TRUST BANK LIMITED
Alankar Mour Br., Ctg.
Aman Bazar Br., Ctg.
Babu Bazar Br., Dhaka
Banani Br., Dhaka
Baridhara Br., Dhaka
Bashundhara Br., Dhaka
Bogra Br., Bogra
Brahmanbaria Br., Brahmanbaria
Chandra Br., Dhaka
Chawk Moghaltuli Br., Dhaka
Comilla Br., Comilla
Cox's Bazar Br., Cox's Bazar
Dagonbhuiyan Br., Feni
Dania Br., Dhaka
Dhanmondi Br., Dhaka
Dilkusha Br., Dhaka
Dinajpur Br., Dinajpur
Elephant Road Br., Dhaka
Feni Br., Feni
Gobindaganj Br., Gobindaganj
Gulshan Br., Dhaka
Habigonj Br., Habigonj
Jessore Br., Jessore
Kakrail Br., Dhaka
Kalurghat I/A Br., Ctg.
Kamrangir Char Br., Dhaka
Kapasia Br., Gazipur, Dhaka
Khatungonj Br., Ctg.
Kushtia Br., Kushtia
Mirpur Br., Dhaka
Mohammadpur Br., Dhaka
Moulvi Bazar Br., Sylhet
MTB Corporate Center Br., Dhaka
Mymensingh Br., Mymensingh
Narayangonj Br., Narayangonj
Nazirhat Br., Ctg.
Pabna Br., Pabna
Pallabi Br., Dhaka
Panthapath Br., Dhaka
Principal Br., Dhaka
Progati Sarani Br., Dhaka
Raipur Br., Laxmipur
Rajshahi Br., Rajshahi
Rangpur Br., Rangpur
Sarulia Bazar Br., Dhaka
Shah Mokhdum Avenue Br., Dhaka
Shahparan Gate Br., Sylhet
Sirajganj Br., Rajshahi
Sreenagar Br., Dhaka
Sylhet Br., Sylhet
Thakurgaon Br., Thakurgaon
Tongi Br., Dhaka
INVESTMENT CORPORATION OF BANGLADESH
Barisal Br., Brisal
Bogra Br., Bogra
Chittagong Br., Chittagong
Head Office, Dhaka
Khulna Br., Khulna
Local Office, Dhaka
Rajshahi Br., Rajshahi
Sylhet Br., Sylhet
ONE BANK LIMITED
Agrabad Br., Ctg.
Amishapara Br., Noakhali
Anderkilla Br., Ctg.
Anowara Br., Ctg.
Banani Br., Dhaka
Banasree Br., Dhaka
Bangshal Br., Dhaka
Barisal Br., Barisal
Bashabo Br., Dhaka
Boalkhali Br., Boalkhali, Ctg.
Bogra Br., Bogra
Brahmanbaria Br., Brahmanbaria
CDA Avenue Br., Ctg.
Chandgaon Br., Ctg.
Chandragonj Br., Lakshmipur
Chaprashir Hat SME/Agree Br.
Chowmuhuni Br., Noakhali
Comilla Br., Comilla
Cox’S Bazar Br., Cox’S Bazar
Dagon Bhuiyan Br., Feni
Dhanmondi Br., Dhaka
Dovashi Bazar Br., Ctg.
Elephant Road Br., Dhaka
Feni Br., Feni
Ganakbari (EPZ) Br., Savar, Dhaka
Gulshan Br., Dhaka
Halishahar Br., Ctg.
Hathazari Br., Ctg.
Imamganj Br., Dhaka
Islampur Br., Sylhet
Jagannathpur Br., Dhaka
Jatrabari Br., Dhaka
Jessore Br., Jessore
Joypara Br., Dohar, Dhaka
Jubille Road Br., Ctg.
Kakrail Br., Dhaka
Kawran Bazar Br., Dhaka
Khatungonj Br., Ctg.
Khulna Br., Khulna
Kushtia Br., Kushtia
Laksham Br., Comilla
Lakshmipur SME/Agriculture Br.
Lalbagh Br., Dhaka
Laldighirpar Br., Sylhet
Madhabdi Br., Narsingdi
Maijdee Court Br., Noakhali
Mandari Bazar Br., Lakshmippur
Mirpur Br., Dhaka
Mithachara Br., Ctg.
Moghbazar Br., Dhaka
Motijheel Br., Dhaka
Nanupur Bazar Br., Ctg.
Narayangonj Br., Narayangonj,
Nawabgonj Br., Dhaka
Principal Br., Dhaka
Progoti Shahrani Br., Dhaka
Raipur Br., Laxmipur
Rajshahi Br., Rajshahi
Ramganj Br., Laxmipur
Rangamati Br., Rangamati
Rangpur Br., Rangpur
Ranirhat Br., Rangunia, Ctg
Raozan Br., Raozan, Ctg
Ring Road Br., Shamoli, Dhaka
Satkhira Br., Satkhira.
Shahjadpur SME/Agriculture Br., Sirajgonj
Sherpur Br., Moulvi Bazar
Sirajgonj Br., Sirajgonj
Sitakunda Br., Sitakunda, Ctg.
Sylhet Br., Sylhet
Tipu Sultan Road Br., Dhaka
Tongi SME/Agriculture Br., Dhaka
Uttara Br., Dhaka
NATIONAL BANK LIMITED
Agrabad Br., Ctg.
Anderkilla Br., Ctg.
Asadgate Br., Dhaka
Babubazar Br., Dhaka
Banani Br., Dhaka
Bangshal Road Br., Dhaka
Barisal Br., Brisal
Bogra Br., Bogra
CDA Avenue Br., Ctg.
Chawk Bazar Br., Ctg.
Chowmuhani Br., Noakhali
Comilla Br., Comilla
Dhanmondi Br., Dhaka
Dilkhusha Br., Dhaka
Elephant Road Br., Dhaka
Feni Br., Feni
Foreign Exchange Br., Dhaka
Gazipur Br., Gazipur
Goalchamat Br., Faridpur
Gulshan Br., Dhaka
Halishahar Br., Ctg.
Imamganj Br., Dhaka
Islampur Br., Dhaka
Jatrabari Br., Dhaka
Jubilee Road Br., Ctg.
Kawran Bazar Br., Dhaka
Khatungonj Br., Ctg.
Khulna Br., Khulna
Kishorgonj Br., Kishorgonj
Lake Circus Br., Dhaka
Malibagh Br., Dhaka
Mira Bazar Br. , Sylhet
Mirpur Br., Dhaka
Moakhali Br., Dhaka
Mohammadpur Br., Dhaka
Motijheel Br., Dhaka
Moulvibazar Br., Moulvibazar
Mymensingh Br., Mymensingh
Narayanganj Br., Narayanganj
Narsingdi Br., Narsingdi
Netaiganj Br., Narayanganj
New Eskaton Br., Dhaka
North Book Hall Br., Dhaka
Pagla Bazar Br., Narayanganj
Pahartali Br., Ctg.
Progoti Sarani Br., Dhaka
Rajshahi Br., Rajshahi
Rifles Square Br., Dhaka
Rokeya Sarani Br., Dhaka
S.K. Mojib Road Br., Ctg.
Savar Bazar Br., Savar
Sreenagar Br., Munshigonj
Sunamgonj Br., Sunamgonj
Sylhet Br., Sylhet
Tangail Br., Tangail
Tongi Br., Gazipur
Uttara Br., Dhaka
Z.H. Sikder M.C Br., Dhaka
Zindabazar Br., Sylhet
THE CITY BANK LIMITED
Agrabad Br., Ctg.
Amborkahana Br., Sylhet
Andarkilla Br., Ctg.
B B Avenue Br., Dhaka
Bandar Bazar Br., Sylhet
Bangabandhu Road Br., Narayangonj
Barisal Br., Barisal
Bogra Br., Bogra
Comilla Br., Comilla
Cox’s Bazar Br., Ctg.
Imamgonj Br., Dhaka
Islampur Br., Dhaka
Jessore Br., Jessore
Johnson Road Br., Dhaka
Jubilee Raod Br. Ctg.
Kawran Bazar Br., Dhaka
Khatungonj Br., Ctg.
Khulna Br., Khulna
Moulovi Bazar Br., Sylhet
Narshingdi Br., narshingdi
Nawabgonj Br., Dhaka
Nawabpur Br., Dhaka
New Market Br., Dhaka
Pahartoli Br., Ctg.
Pragati Sarani Br., Dhaka
Principal Office Br., Dhaka
Rajshahi Br., Rajshahi
Rangpur Br., Rangpur
Shyamoli Br., Dhaka
Sirajgonj Br., Sirajgonj
Tongi Br., Gazipur
VIP Road Br., Dhaka
Zinda Bazar Br., Sylhet
Zinzira Br., Dhaka
PREMIER BANK LIMITED
Agrabad Br. Chittagong
Ambarkhana Br. Sylhet
Ashugonj Br. Brahmanbaria- Rural
Ashulia Br. Savar, Dhaka
Askona Br, Dhaka
Bahairab Bazar Br., Kishorgonj-Rural
Banani Br. Dhaka
Banani SME Service Centre, Dhaka
Bangla Bazar SME Service Centre, Dhaka
Bangshal Br. Dhaka
Barisal Br. Barisal
Basundhara Br. Dhaka
Bhaluka Br. Mymenshing
Bhulta Br. (Rural), Narayangonj
Board Bazar Br. Gazipur
Bogra Br. Bogra
Borogola SME/ Agri. Br. Bogra
Brahmanbaria SME/Agri. Br. Brahmanbaria
Chowmuhuni SME/Agri. Br. Noakhali
Comilla Br. Comilla
Cox’s Bazar SME/Agri. Br. Cox’s Bazar
Danga Br. Narshinghdi
DEPZ Br. Dhaka- Rural
Dhanmondi Br. Dhaka
Dhanmondi Satmosjid Road Br. Dhaka
Dilkusha Br. Dhaka
Dilkusha Corporate Br. Dhaka
Donia SME/ Agri. Br. Dhaka
Elephant Road Br. Dhaka
Feni Br. Feni
Gulshan Br. Dhaka
Gulshan Circle-2 Br. Dhaka
Imamgonj Br. Dhaka
Islami Banking Br, Sylhet
Islami Banking Br. Dhaka
Jessore Br. Jessore
Joydebpur Br. Gazipur –Rural
Jubilee Road Br. Chittagong
Kakrail Br. Dhaka
Kalabagan Br. Dhaka
Kawran Bazar Br. Dhaka
Kawran Bazar SME Service Centre, Dhaka
Keranigonj SME/Agri. Br. Dhaka
Khatungonj Br. Chittagong
Khulna Br. Khulna
Kodomtoli Br. Chittagong
Konabari Br. (Rural), Gazipur
Madanpur Br. Narayangonj
Matuail Br. Dhaka
Meghnaghat Br, Narayangonj-Rural
Mohammadpur SME Service Centre, Dhaka
Motijheel Br. Dhaka
Mouchak SME Service Centre, Dhaka
Moulovi Bazar Br. Moulovi Bazar
Munshigonj Br. Munshigonj
Mymenshingh Br. Mymenshing
Narayangonj Br. Narayanganj
Narsingdi Br. Narsigndi
Nawabpur Road Br. Dhaka
Nazirhat Br. Chittagong
Dhaka New Market Br. Dhaka
O.R. Nizam Road Br, Chittagong
Pagla Br., Narayangonj
Pahartoli Br. Chittagong
Panthapath Br. Dhaka
Rajshahi Br. Rajshahi
Rampura Br. Dhaka
Rangpur Br. Rangpur
Rokeya Sarani Br. Dhaka
Savar Br. Savar
Shymoli Br. Dhaka
Sirajgonj SME/Agri. Br. Sirajgonj
Tangail Br. Tangail
Tongi Br. Gazipur –Rural
Uttara Br. Dhaka
Zinzira Br. Dhaka- Rural
BRAC BANK LIMITED
Agrabad Br., Ctg.
Asad Gate Br., Dhaka
Banani Br., Dhaka
Barisal Br., Barisal
Bashundhara Br., Dhaka
Bogra Br., Bogra
CDA Avenue Br., Ctg.
Donia Br., Dhaka
Eskaton Br., Dhaka
Gulshan Br., Dhaka
Halishahar Br., Ctg.
Jessore Br., Jessore
Kazirdeuri Br., Ctg.
Khulna Br., Khulna
Manda Br., Dhaka
Mirpur Br., Dhaka
Momin Road Br., Ctg.
Narayanganj Br., Narayanganj
Nawabpur Br., Dhaka
Rajshahi Br., Rajshahi
Rampura Br.,Dhaka
Shyamoli Br., Dhaka
Uttara Br., Dhaka
Zindabazar Br., Sylhet
Export Import Bank of Bangladesh Limited
Agrabad Br., Ctg.
Banani Br., Dhaka
Barisal Br., Barisal
Bashundhara Road Br., Dhaka
Bogra Br., Bogra
Chagalnaiya Br., Feni
Elephant Road Br., Dhaka
Gazipur Chowrasta, Br., Gazipur
Gulshan Br., Dhaka
Head Office Corporate Br., Dhaka
Imamgonj Br., Dhaka
Khatungonj Br., Ctg.
Khulna Br., Khulna
Laksham Br., Comilla
Malibagh Br., Dhaka
Mirpur Br., Dhaka
Motijheel Br., Dhaka
Moulvibazar Br., Dhaka
Mudaforgonj Br., Comilla
Narayanganj Br., Narayanganj
Nawabpur Br., Dhaka
New Eskaton Br., Dhaka
Panthapath Br., Dhaka
Rajshahi Br., Rajshahi
Rajuk Avenue Br., Dhaka
Satmosjid Road Br., Dhaka
Shimrail Br., Narayangonj
Sylhet Br., Sylhet
Uttara Br., Dhaka
NCC Bank Limited
Agrabad Br., Ctg.
Anderkilla, Ctg.
Babubazar Br., Dhaka
Banani Br., Dhaka
Bangshal Br., Dhaka
Barisal Br., Barisal
Bijoynagar Br., Dhaka
Bogra Br., Bogra
CEPZ Br., Chittagong
Chowhatta Br., Sylhet
Chowmuhuni Br., Noakhali
Comilla Br., Comilla
Cox’s Bazar Br., Cox’s Bazar
Dhanmondi Br., Dhaka
Dilkusha Br., Dhaka
Elephant Road Br., Dhaka
Feni Br., Feni
Gulshan Br., Dhaka
Halishahar Br., Chittagong
Islampur Br., Dhaka
Jatrabari Br., Dhaka
Jessore Br., Jessore
Joydevpur Br., Gazipur
Jublee Road Br., Ctg.
Kadamtali Br., Chittagong
Kamal Bazar Br., Chittagong
Kawran Bazar Br., Dhaka
Khatungonj Br., Chittagong
Khulna Br., Khulna
Kustia Br., Kushtia
Laldighirpar Br., Sylhet
Laxmipur Br., Laxmipur
Madaripur Br., Madaripur
Madhunaghat Br., Chittagong
Majirghat Br., Chittagong
Malibagh Br., Dhaka
Maymensingh Br., Maymensingh
Mirpur Br., Dhaka
Mitford Br., Dhaka
Moghbazar Br.,Dhaka
Motijheel Br., Dhaka
Moulvibazar Br., Moulvibazar
Naogaon Br., Naogaon
Narayanganj Br., Narayanganj
Nawabpur Road Br., Dhaka
NCC Bank Bhaban Br., Dhaka
O.R Nizam Road Br., Chittagong
Panthapath Br., Dhaka
Pragoti Sarani Br., Dhaka
Rajshahi Br., Rajshahi
Ramgonj Br., Laxmipur
Rangpur Br., Rangpur
Savar Br., Dhaka
Shyamoli Br., Dhaka
Sonagazi SME/Agri Br., Feni
Tangail Br., Tangail
Uttara Br., Dhaka
Mercantile Bank Limited
Agrabad Br., Ctg.
Banani Br., Dhaka
Barisal Br., Barisal
Bhulta Br., Narayanganj
Bijoynagar Br., Dhaka
Chittagong EPZ Br., Chittagong
Comilla Br., Comilla
Dhanmondi Br., Dhaka
Elephant Road Br., Dhaka
Feni Br., Feni
Gulshan Br., Dhaka
Kawran Bazar Br., Dhaka
Khatungonj Br., Chittagong
Khulna Br., Khulna
Mirpur Br., Dhaka
Mohakhali Br., Dhaka
Motijheel Br., Dhaka
Narayangonj Br., Narayangonj
Nayabazar Br., Dhaka
O.R. Nizam Road Br., Chittagong
Rajshahi Br., Rajshahi
Rampura Br., Dhaka
Rangpur Br., Rangpur
Ring Road Br., Dhaka
Sheikh Mujib Road Br., Chittagong
Subid Bazar Br., Sylhet
Sylhet Br., Sylhet
Uttara Br., Dhaka
Olympic Accessories Limited
Page | 97
New IPO Application Process
1. In addition to the existing IPO application process, applicants can also apply through their
Stockbroker/Merchant Bankers in the following process:
Step-1 (Applicant)
a. An applicant for public issue of securities shall submit application/instruction, within the
subscription period to the Stockbroker/ Merchant Banker where the applicant maintains
customer account.
b. The application/instruction may be submitted in prescribed paper or electronic form, which shall
contain the Customer ID, Name, BO Account Number, Number of Securities applied for, Total
Amount and Category of the Applicant. At the same time:
i. Other than non-resident Bangladeshi (NRB) and Foreign applicants shall make the
application money and service charge available in respective customer account
maintained with the Stockbroker/Merchant Banker. No margin facility, advance or
deferred payment is permissible for this purpose. In case the application is made through
a margin account, the application money shall be deposited separately and the
Stockbroker/Merchant Banker shall keep the amount segregated from the margin
account, which shall be refundable to the applicant, if become unsuccessful.
ii. Non-resident Bangladeshi (NRB) and Foreign applicants shall submit bank draft(s) issued
in favor of the issuer for an amount equivalent to the application money with their
application to the concerned Stockbroker/Merchant Banker. The draft(s) shall be issued
by the Bank where the applicant maintains NITA/Foreign Currency account debiting the
same account. No banker shall issue more than two drafts from any NITA/Foreign
Currency account for any public issue. At the same time, the applicants shall make the
service charge available in respective customer account maintained with the
Stockbroker/Merchant Banker.
Step-2 (Intermediary)
a. The Stockbroker/Merchant Banker shall maintain a separate bank account only for this purpose
namely “Public Issue Application Account”. The Stockbroker/Merchant Banker shall post the
amount separately in the customer account (other than NRB and Foreign applicants), and upon
availability of fund block the amount equivalent to the application money, accumulate all the
application/instructions received up to the subscription closing date, deposit the amount in the
“Public Issue Application Account” maintained with its bank within the first banking hour of next
working day of the subscription closing date, instruct the banker to block the account for an
amount equivalent to the aggregate application money and to issue a certificate in this regard. In
case of application submitted by the Stock-dealer or the Merchant Banker’s own portfolio, the
application amount should also be transferred to the “Public Issue Application Account”. Banker
of the Stockbroker/Merchant Banker shall block the account as requested for, issue a certificate
confirming the same and handover it to the respective Stockbroker/Merchant Banker.
b. For Non-resident Bangladeshi (NRB) and Foreign applicants, the Stockbroker/Merchant Banker
shall hold the bank drafts submitted by the applicants in their custody with a list containing the
bank draft information against the respective applicant’s particulars.
c. The Stockbroker/Merchant Banker shall prepare category wise lists of the applicants containing
Customer ID, Name, BO Account Number and Number of Securities applied for, and within 03
Olympic Accessories Limited
Page | 98
(three) working days from the subscription closing date, send it to the respective Stock
Exchange in electronic (text format with tilde ‘~’ separator) format and the certificate(s) issued by
its banker.
d. On the next working day, the stock exchanges shall provide the issuer with the information
received from the Stockbroker/Merchant Bankers. Stock Exchanges shall verify and preserve the
bankers’ certificates in their custody.
Step-3 (Issuer)
a. The issuer shall prepare consolidated list of the applications and send the applicants’ BOIDs in
electronic (text) format in a CDROM to CDBL for verification. CDBL shall verify the BOIDs as to
whether the BO accounts of the applicants are active or not. Along with the verification report,
CDBL shall provide the issuer with an updated database of the applicants containing BO Account
Number, Name, Addresses, Parents’ Name, Joint Account and Bank Account Information along
with the verification report. After receiving verification report and information from CDBL, the
issuer shall scrutinize the applications, prepare category wise consolidated lists of valid and
invalid applications and submit status report of subscription to the Commission and the stock
exchanges. The issuer and the issue manager shall conduct category wise lottery with the valid
applications in line with the conditions of the Commission’s consent letter.
b. Within 02 (two) working days of conducting lottery, the issuer shall:
i. Send category wise lists of the successful and unsuccessful applicants in electronic (text
format with tilde ‘~’ separator) format to the respective Stock Exchange.
ii. Issue allotment letters in the names of successful applicants in electronic format with
digital signatures and send those to respective Stock Exchange in electronic form. The
issuer shall send consolidated allotment data (BOID and number of securities) in
electronic text format in a CDROM to CDBL to credit the allotted shares to the respective
BO accounts.
Step-4 (Intermediary)
a. On the next working day, Stock exchanges shall distribute the information and allotment letters
to the Stockbroker/Merchant Bankers concerned in electronic format with instruction to remit the
amount of successful (other than NRB and Foreign) applicants to the issuers respective Escrow
Account opened for subscription purpose and unblock the amount of unsuccessful applicants,
and also to send the drafts submitted by successful NRB and Foreign applicants to the Stock
Exchange and return the drafts submitted by unsuccessful applicants.
b. On the next working day of receiving the documents from the Stock Exchanges, the
Stockbrokers/Merchant Bankers shall request its banker to release the amount blocked for
unsuccessful (other than NRB and foreign) applicants and remit the aggregate amount of
successful applicants to the ‘Escrow’ account of the issuer opened for the subscription purpose.
On the same day, the Stockbroker/Merchant Bankers shall send the drafts submitted by
successful NRB and Foreign applicants to the Stock Exchange concerned and return the drafts
submitted by unsuccessful NRB and Foreign applicants.
c. On the next working day of receiving request from the Stockbrokers/Merchant Bankers, their
bankers shall unblock the amount blocked in the account(s) and remit the amount as requested
for to the issuer’s ‘Escrow’ account. Simultaneously, the stockbrokers/Merchant Bankers shall
release the application money in the customer accounts; inform the successful applicants about
Olympic Accessories Limited
Page | 99
allotment of securities and the unsuccessful applicants about releasing their blocked amounts.
The unblocked amounts of unsuccessful applicants shall be placed as per their instructions. The
Stockbroker/Merchant Banker can recover the withdrawal charges, if any, from the applicants up
to an amount of Tk.5.00 (five) per withdrawal. On the same day, Stock Exchanges shall send the
drafts submitted by successful NRB and Foreign applicants to the Issuer.
d. In case any draft submitted by any successful NRB or Foreign applicant contains an amount
excess to the value of securities to be allotted to the applicant, the issuer shall refund the excess
amount to the applicant through bank drafts issued in the same currency within 7 (seven)
working days of receiving the drafts from Stock Exchange.
Miscellaneous:
a. The issuer and Issue Manager(s) shall jointly ensure compliance of the above.
b. Amount deposited and blocked in the “Public Issue Application Account” shall not be withdrawn
or transferred during the blocking period. Amount deposited by the applicants shall not be used
by the Stockbrokers/Merchant Bankers for any purpose other than public issue application.
c. The issuer shall pay the costs related to data transmission, if claimed by the Stock Exchange
concerned.
d. The Stockbroker/Merchant Bankers shall be entitled to a service charge of Tk.5.00 (taka five) only
per application irrespective of the amount or category. The service charge shall be paid by the
applicant at the time of submitting application.
e. The Stockbroker/Merchant Banker shall provide the issuer with a statement of the remittance and
drafts sent.
2. The above application process is a pilot project and optional for investors, i.e. investors can apply
either following new process through stockbroker/merchant banker or in existing process
through banker to the issue.
3. List of the Stockbroker/Merchant Bankers participating in the pilot project shall be disclosed in
the prospectus and abridged version thereof. Only the applicants maintaining accounts with the
Stockbroker/Merchant Bankers name contained in the list can apply through the new process.
Olympic Accessories Limited
Page | 100
List of the Stockbroker/Merchant Bankers to receive IPO applications
DSE STOCK BROKERS
Sl. No. Name of TREC Holder
TREC
No. Sl. No. Name of TREC Holder TREC No.
1 A. K. Khan Securities Ltd. 6 55 Eminent Securities Ltd. 191
2 International Leasing Securities Ltd. 9 56 DBL Securities Limited 193
3 Brac EPL Stock Brokerage Ltd. 11 57 Parkway Securities Ltd. 194
4 MAH Securities Limited 13 58 MTB Securities Ltd. 197
5 Adil Securities Ltd. 17 59 AD Holdings Limited 213
6 Greenland Equities Ltd. 18 60 Pubali Bank Securities Ltd. 214
7 Royal Capital Ltd. 21 61 Mika Securities Ltd. 215
8 Vision Capital Management Ltd. 24 62 BRB Securities Limited 220
9 ETBL Securities & Exchange Ltd. 31 63 Modern Securities Ltd. 229
10 Daulatunnessa Equities Limited 37 64 IIDFC Securities Limited 238
11 Haji Ahmad Brothers Securities Ltd. 41 65 A N W Securities Ltd. 240
12 Rapid Securities Limited 42 66 One Securities Ltd. 241
13 AB & Company Limited 43 67 Apex Investments Limited 7
14 M-Securities Ltd. 44 68 Alpha Equities Ltd. 56
15 SAHCO Securities Limited 46 69 IDLC Securities Ltd. 58
16 Imtiyaz Husain Securities Limited 50 70 Square Securities Management Ltd. 76
17 Mian Abdur Rashid Securities Ltd. 53 71 R. N. Trading Limited 78
18 Shahjahan Securities Limited 64 72 Alhaj Securities & Stocks Limited 93
19 ASENZ Securities Ltd. 65 73 Remons Investment & Securities Ltd. 108
20 Popular Equities Ltd. 68 74 Midway Securities Ltd. 142
21 Mohammad Talha & Co Ltd. 69 75 Investment Promotion Services Limited 158
22 HAC Securities Limited 74 76 Oshadhi Securities Ltd. 208
23 Asia Securities Ltd. 88 77 United Financial Trading Co. Ltd. 227
24 Uniroyal Securities Ltd. 89 78 Expo Traders Ltd. 230
25 Md. Fakhrul Islam Securities Ltd. 90 79 Popular Life Insurance Company Ltd. 232
26 SIBL Securities Ltd. 94 80 Dhaka Securities Ltd. 239
27 Salta Capital Limited 95 81 NLI Securities Ltd. 244
28 Jamal Ahmed Securities Ltd. 97 82 Shyamol Equity Management Limited 3
29 Howlader Equity Services Limited 102 83 Phoenix Securities Limited 4
30 Islami Bank Securities Limited 107 84 Crest Securities Ltd. 8
31 Ettihad Securities Ltd. 110 85 Khwaja Equity Services Limited 10
32 A N F Management Company Ltd. 117 86 Pasha Capital Ltd. 12
33 K-Securities and Consultants Ltd. 122 87 ACE Capital Management Service Ltd. 16
34 Rose Securities Ltd. 125 88 Azam Securities Limited 19
35 Dynamic Securities Consultants Ltd. 126 89 BDBL Securities Ltd. 20
36 LankaBangla Securities Ltd. 132 90 Ershad Securities Limited 23
37 Moshihor Securities Ltd. 134 91 Arena Securities Ltd. 25
38 Cosmopolitan Traders (Pvt.) Ltd. 146 92 EBL Securities Limited 26
39 Joytun Securities Intl. Ltd. 148 93 SAR Securities Ltd. 27
40 Shakil Rizvi Stock Ltd. 149 94 Sadeque Finance Management Ltd. 28
41 EMES Securities Ltd. 155 95 Kazi Firoz Rashid Securities Limited 29
42 Standard Bank Securities Ltd. 156 96 Ibrahim Securities Limited 33
43 Trustee Securities Ltd. 162 97 B & B Enterprise Limited 34
44 Mona Finan. Consultancy & Sec. Ltd. 164 98 Rashid Investment Services Limited 35
45 Tobarrak Securities Ltd. 172 99 Quayum Securities Limited 38
46 T. A. Khan Securities Co. Ltd. 174 100 Aries Securities Ltd. 48
47 BLI Securities Limited 175 101 S. B. Securities Limited 51
48 Peoples Equities Ltd. 176 102 M. Zubair Securities Limited 52
49
Commerce Bank Securities and
Investment Ltd.
180 103 UGC Securities Limited 54
50 UCB Capital Management Limited 181 104 Global Securities Ltd. 60
51 Razzak Securities Ltd. 184 105 NCCB Securities & Financial Services Ltd. 61
52 Delta Capital Limited 185 106 E-Securities Ltd. 66
53 G M F Securities Ltd. 186 107 Sinha Securities Limited 67
54 Globe Securities Limited 189 108 First Capital Securities Ltd. 70
Olympic Accessories Limited
Page | 101
Sl. No. Name of TREC Holder TREC No. Sl. No. Name of TREC Holder TREC No.
109 Multi Securities & Services Limited 75 166 Sterling Stocks & Securities Ltd. 249
110 Md. Sahidullah Securities Limited 91 167 S & H Equities Limited 2
111 Dhanmondi Securities Ltd. 98 168 Federal Securities And Investment Ltd. 45
112 Island Securities Ltd. 106 169 H R Securities & Investments Ltd. 72
113 Unique Share Management Ltd. 109 170 Prime Islami Securities Ltd. 104
114 Nouvelle Securities Ltd. 112 171 PFI Securities Limited 79
115 CMSL Securities Limited 113 172 Ali Securities Co. Limited 105
116 Ahmed Iqbal Hasan Securities Ltd. 114 173 R N I Securities Ltd. 128
117 Nabiul Karim Securities Limited 115 174 Aloco Securities Ltd. 139
118 Murshed Securities Limited 116 175 Reliance Brokerage Services Ltd. 62
119 Saad Securities Ltd. 118 176 Coast To Coast Securities Ltd. 198
120 Dragon Securities Limited 119 177 DMR Securities Services Ltd. 14
121 Sheltech Brokerage Limited 120 178 Harun Securities Ltd. 05
122 SCL Securities Limited 121 179 DSFM Securities Ltd. 133
123 Shahed Securities Ltd 123 180 Farida RaquibSecurities Ltd. 87
124 ICB Securities Trading Company Limited 129 181 Hasan Securities Ltd. 57
125 Thea Securities Ltd. 130 182 Tamha Securities Ltd. 81
126 Harpoon Securities Ltd. 131 183 Surma Securities Holding Co. Ltd. 111
127 Kazi Equities Ltd. 135 184 NBL Securities Ltd. 203
128 Securities Broking & Management Services Ltd. 136 185 DLIC Securities Ltd. 243
129 Al-Haja Jahanara Securities Ltd. 138 186 A.B Ispahani Securities Ltd. 1
130 K.H.B. Securities Ltd. 143 187 A.R Chowdhury Securities Ltd. 22
131 City Brokerage Limited 145 188 B. D Finance Securities Ltd. 30
132 Indicate Securities Consultants Ltd. 154 189 Bulbul Securities Ltd. 32
133 Anwar Securities Ltd. 160 190 Al-Muntaha Trading Co. Ltd. 49
134 Haji Mohammad Ali Securities Ltd. 165 191 Green Delta Securities Ltd. 59
135 Subvalley Securities Ltd. 168 192 Desa Securities Ltd. 85
136 Merchant Securities Limited 169 193 Country Stock (Bangladesh) 99
137 Shah Mohammad Sagir & Co. Ltd. 171 194 ARC Securities Ltd. 100
138 Hazrat Amanat Shah Securities Ltd. 173 195 Alliance Securities & Management Ltd. 137
139 Anchor Securities Ltd. 177 196 Bali Securities Ltd. 153
140 JKC Securities Ltd. 179 197 Gateway Equity Resources Ltd. 157
141 Nur-E‐Alam Siddique & Company Ltd. 182 198 SES Company Ltd. (Unicap Securities Ltd.) 163
142 C-Maart Securities Limited 183 199 Times Securities Ltd. 166
143 Jahan Securities Ltd. 195 200 Habibur Rahman Securities Ltd. 187
144 Stock & Bond Limited 199 201 IFIC Securities Ltd. 192
145 Total Communication Ltd. 200 202 M&Z Securities Ltd. 196
146 AB Securities Ltd. 201 203 Synthia Securities Ltd. 204
147 Prilink Securities Ltd. 202 204 Khurshid Securities Ltd. 47
148 Modern Equity Limited 206 205 MAM Securities Ltd. 86
149 United Enterprises & Co. Ltd. 207 206 Dayton Holding Ltd. 101
150 Mondol Securities Ltd. 209 207 Peace Securities Ltd. 159
151 Wifang Securities Ltd. 210 208 SBC Securities & Investment Ltd. 071
152 Sharp Securities Limited 216 209 Transcon Securities Limited 55
153 Rasti Securities Consultant Ltd. 217 210 ABS Safdar & Co. Ltd. 124
154 A. L. Securities Ltd. 222 211 Doha Securities Ltd. 127
155 Mercantile Bank Securities Limited 224 212 Bangladesh Shilpa Bank 152
156 Shohrab Securities & Trade Ltd. 225 213 Fareast Islami Securities Ltd. 170
157 FAREAST Stocks & Bonds Ltd. 226 214 Beximco Securities Limited 178
158 Akij Securities Ltd. 231 215 Salam & Company Ltd. 190
159 Shahjalal Islami Bank Securities Ltd. 233 216 Conmark Limited 228
160 AIBL Capital Market Services Ltd. 234 217 Uttara Bank Securities Ltd. 250
161 PHP Stock & Securities Ltd. 235 218 Nexus Securities Limited 218
162 Premier Bank Securities Ltd. 236 219 Prudential Securities Limited 73
163 Bank Asia Securities Limited 237 220 Latif Securities Limited 80
164 Trust Bank Securities Ltd. 242 221 A.M. Securities and Financial Services Ltd. 205
165 BD Sunlife Securities Ltd. 248 222 Mirror Financial Management Ltd. 223
Olympic Accessories Limited
Page | 102
CSE STOCK BROKERS
Sl.
No.
Name of the TREC Holder
TREC Holders
No.
Sl.
No.
Name of the TREC Holder
TREC Holders
No.
1 Alpha Securities Ltd. CSE 001 44 Purabi Securities Ltd. CSE 087
2 ISPI Securities Limited CSE 002 45 D. N. Securities Ltd. CSE 089
3 Meenhar Securities Limited CSE 003 46 LankaBangla Securities limited CSE 091
4 South Asia Securities Limited CSE 004 47 Square Securities Management Ltd. CSE 092
5 Island Securities Ltd. CSE 005 48 Holy City Securities Ltd. CSE 093
6 Chittagong Capital Ltd. CSE 006 49 Inter Continental Securities Ltd. CSE 094
7 Saya Securities Ltd. CSE 010 50 PFI Securities Limited CSE 095
8 First Capital Securities Limited CSE 011 51 International Securities Co. Ltd. CSE 096
9 BREC EPL Stock Brokerage Ltd. CSE 013 52 Multi Securities & Services Limited CSE 097
10 UCB Capital Management Ltd. CSE 015 53 Mona Financial Consultancy and
Securities Ltd.
CSE 103
11 Adams Securities Limited CSE 016 54 Pubali Bank Securities Ltd. CSE 105
12 North West Securities Ltd. CSE 019 55 NC Securities Limited CSE 107
13 EBL Securities Ltd. CSE 021 56 Cordial Securities Limited CSE 113
14 Salta Capital Limited CSE 022 57 Hassan Shares & Securities Ltd. CSE 114
15
Uttara Exchange And Securities
Limited
CSE 024 58 Hallmark Securities Ltd. CSE 117
16 Be Rich Limited CSE 027 59 IDLC Securities Ltd. CSE 119
17 RAK Capital Ltd. CSE 028 60
Western Securities Investment
Management Ltd. CSE 120
18 PHP Stocks & Securities Ltd. CSE 031 61 Far East Shares & Securities Ltd. CSE 123
19 Sylnet Securities Ltd. CSE 033 62 Amin Securities & Consultants Ltd. CSE 128
20 Pioneer Shares & Securities Ltd. CSE 034 63 Phoenix Securities Limited CSE 131
21 Hillcity Securities Ltd. CSE 037 64
NCCB Securities and Financial
Services Ltd. CSE 132
22 S.R.Capital Ltd. CSE 038 65 City Brokerage Ltd. CSE 133
23 Remons Investment & Securities Ltd. CSE 042 66 Shahjalal Islami Bank Securities Limited CSE 134
24
United Financial Trading Company
Ltd. CSE 043 67 Popular Life Insurance Company Ltd. CSE 135
25 Kishwar Securities Investment Ltd. CSE 047 68 Premier Leasing Securities Ltd. CSE 136
26 Impel Shares & Securities Ltd. CSE 049 69 Fareast Stocks & Bonds Limited. CSE 138
27 Mirpur Securities Limited CSE 050 70 AIBL Capital Market Services Ltd. CSE 139
28 E‐Securities Limited CSE 052 71 SIBL Securities Limited CSE 142
29 Royal Capital Limited CSE 053 72 Islami Bank Securities Ltd. CSE 146
30 Prime Financial Consultants &
Equities Limited
CSE 055 73 ONE Securities Limited CSE 148
31 Kabir Securities Limited CSE 056 74 British Bengal Securities Limited CSE 008
32 Eastern Shares & Securities Ltd. CSE 058 75 Chittagong Shares & Securities Ltd. CSE 060
33 Reliance Securities Consultant Ltd. CSE 059 76 Finvest Services Limited CSE 066
34 CMSL Securities Limited CSE 061 77 SES Company Limited CSE 082
35 Prudential Capital Ltd. CSE 062 78 Ten Stars (pvt.) Ltd. CSE 100
36 Associated Capital Securities Ltd. CSE 063 79 Vantage Securities Ltd. CSE 115
37 Platinum Securities Limited CSE 064 80 Green Delta Securities Ltd. CSE 130
38 T.K. Shares & Securities Ltd. CSE 069 81 Century Securities Ltd. CSE 079
39 Ahmed Securities Services Ltd. CSE 070 82 A.A Securities Ltd. CSE 032
40 Sohel Securities Ltd. CSE 076 83 Moharam Securities Ltd. CSE 108
41
International Leasing Securities
Limited
CSE 080 84 Megacity Securities Ltd. CSE 116
42 DBL Securities Limited CSE 081 85 First Lead Securities Ltd. CSE 122
43 Skys Securities Limited CSE 084
Olympic Accessories Limited
Page | 103
MERCHANT BANKERS
Sl. No. Name of the Merchant Bankers
1 ICB Capital Management Ltd.
2 IDLC Investments Ltd.
3 EXIM Islami Investment Ltd.
4 Imperial Capital Limited
5 AFC Capital Ltd.
6 Prime Finance Capital Management Ltd.
7 FAS Capital Management Ltd.
8 Trust Bank Investment Limited
9 City Bank Capital Resources Ltd.
10 UniCap Investments Limited
11 SBL Capital Management Ltd.
12 Jamuna Bank Capital Management Ltd.
13 LankaBangla Investments Ltd.
14 EC Securities Limited
15 BLI Capital Limited
16 Prime Bank Investment Ltd.
17 AIBL Capital Management Ltd.
18 BRAC EPL Investments Limited
19 MTB Capital Ltd.
20 BMSL Investment Ltd.
21 EBL Investments Ltd.
22 AAA Finance & Investment Limited
23 PLFS Investments Ltd.
24 Sonali Investment Ltd.
25 IIDFC Capital Ltd.
26 IL Capital Ltd.
27 Grameen Capital Management Ltd.
28 Alpha Capital Management Ltd.
29 Rupali Investment Ltd.
30 Uttara Finance and Investment Ltd.
31 Green Delta Capital Ltd.
32 First Securities Services Ltd.
33 Southeast Bank Capital Services Ltd.
34 Janata Capital and Investment Ltd.
35 First Security Islami Capital & Investment Ltd.
36 Swadesh Investment Management Ltd.
37 BD Finance Capital Holdings Ltd.
38 AB Investment Ltd.
Olympic Accessories Limited
Page | 104
PART XXX: MANAGEMENT DISCLOSURE
1. It appears from the draft prospectus (pg 17 & 58) that the share money deposits were being
accounted for from 2010, against which shares were issued on 2014. It is required to explain the
reasons of such delay issuance of shares;
Our Response:
The Company has received share money from the shareholders from 2010 to 2014 to expand of the
Company. Subsequently, after getting the BSEC consent, the share money deposit has converted into
share capital in the year 2014.
It is also mentioned here that as per Bangladesh Securities and Exchange Commission, (Issue of
Capital) Rules, 2001, after exceeding of it’s paid up capital Tk. 10.00 crores, the company raise capital
with the permission of BSEC.
2. It appears from Note No. 7.01 to audited F/S for the year ended on 30/06/2014 that Tk. 8.85 crore
has been provided against land purchase at Mirpur, Dhaka under registered agreement for purchase
(Bayana) dated 24/03/2014. It is required to submit the registered agreement for purchase. It is also
required to disclose its current status and usage of the said land;
Our Response:
We have done registered Bayana (Reg. No 9515) dated April 02, 2014; with the owner of the 10 Katha
land against TK. 10.00 Crore. We have already paid TK. 88,500,000.00 to the land owner and after
paying the rest of the amount we will make registered agreement for the said land.
Additionally, since the owner has not transfer this land to us, that is why, so far this land is not used
by us.
3. It is required to disclose details of capital works in progress amounting Tk. 2.89 crore.
Our Response:
Details of capital works in progress amounting Tk. 2.89 crore are as follows:
Details of Capital work in process (Building Construction)
Item Name Amount in Taka
Soil 1,741,600
Sand 2,314,270
Bricks 3,570,200
Brick Chips 1,206,815
Cement 6,775,675
Rod 7,118,380
Stone Chips 1,625,080
Steel and Grill 640,650
Wood 793,629
Tools and Others 713,765
Labor 2,439,460
Total 28,939,524
Sd/-
Md. Golam Kibria
Managing Director
Olympic Accessories Limited
Page | 105
Disclosure in Respect of Compliance in of WPPF
We have already complied with the provision of section 232, 233, 235 and we will be complied with these
sections 234, 240, 241, 242, 243, 248, 249, 250 of the Bangladesh Labor Law, 2006 subsequently.
Disclosures regarding significant fluctuation in EPS
The number of shares of the company in the year ended on June 30, 2010, 2011, 2012 and 2013 was
126,000 @ Tk. 100 each and EPS of those years were Tk. 440.88, Tk. 594.30, Tk. 928.61 and Tk. 1062.07
respectively. In the year ended June 30, 2014 the EPS has become Tk. 22.62 representing the weighted
number of share 6,132,658 and outstanding number of shares 96,910,000 @ Tk. 10 each share. The
reason behind the significant change of our EPS in 2014.
Considering present outstanding number of shares 96,910,000 of Tk. 10 each share adjusted EPS for the
year ended June 30, 2010, 2011, 2012, 2013 and 2014 are Tk. 0.57, Tk. 0.77, Tk. 1.21, Tk. 1.38 and Tk. 1.43
each respectively.
Disclosure on Note No 7.01 A of the audited financial statements for the year ended June 30, 2014
Please read note 7.01 A of the audited financial statements for the year ended June 30, 2014 “the
registered agreement (Bayna nama) number is 9515 dated on April 02, 2014” instead of existing.
Disclosure regarding rearranged statement of Cash Flows for the year ended June 30, 2014
Advance against land purchased amounting Tk. 59,859,444 has been rearranged from Payment to
Suppliers, Employees and Others of Cash Flows from Operating Activities to Cash Flows of Investing
Activities. As the nature of advance against land purchase is an Investing Activities item, so the
presentation has been rearranged which is certified by the auditor.
Sd/-
Md. Golam Kibria
Managing Director