The issuance of preference shares remains subject to approval from the company’s shareholders and the Bangladesh Securities and Exchange Commission (BSEC).
Apex Footwear has decided to raise up to Tk500 crore by issuing redeemable preference shares to refinance its existing loans and reduce debt burdens.
The company’s board of directors approved the decision during a board meeting held on Saturday evening (26 September), according to a price sensitive information (PSI).
The issuance of preference shares remains subject to approval from the company’s shareholders and the Bangladesh Securities and Exchange Commission (BSEC).
The board recommended a total 30% dividend for the financial year ended 30 June 2026. The package comprises 15% cash (Tk1.50 per share of Tk10 face value) and 15% stock (15 bonus shares for every 100 existing shares).
The company reported a profit growth for the year under review. Its earnings per share (EPS) increased to Tk7.91 for FY2025-26, up from Tk6.90 in the previous financial year.
Its restated Net Asset Value (NAV) per share rose to Tk355.25 as of 30 June 2026, compared to Tk349.35 in the corresponding period of 2025.
However, cash flows took a significant hit. The company reported a net operating cash flow per share (NOCFPS) of minus Tk90.97, down sharply from a positive Tk45.19 recorded in FY2024-25.
To seek shareholder approval for the recommended dividends, share issuance, and charter amendments, Apex Footwear has scheduled its annual general meeting (AGM) for 29 November.
The record date for determining eligible shareholders for the dividend and AGM participation has been fixed for 15 October.
Source: The Business Standard
Read More at: csslbd.net
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