Contacted, Ashraf Ali, company secretary of Ring Shine Textiles, said the management would announce a new date and time soon. Since the expenses related to depreciation and amortisation are not actually cash expenses, adding them back keeps the company’s cash flow numbers from being artificially deflated. Then in February, a key sponsor offloaded holding: Universe Knitting Garments, whose owner Sung Wey Min is the sponsor and MD of Ring Shine Textile, sold 36.9 lakh shares. When Universe Knitting offloaded the Ring Shine shares, the stock price was languishing at around Tk 8, which is less than the face value. Shares of Ring Shine closed at Tk 6.4 on December 30, the last day of trading for the year, which is the same as the previous day.

Source: Dhaka Tribune December 31, 2020 19:18 UTC