Summit Power has more time to submit financial statements

The Bangladesh Securities and Exchange Commission (BSEC) has given Summit Power more time to submit its financial statements, according to a disclosure published on the Dhaka Stock Exchange website today.

The listed power generation company now has until March 31, 2025 to submit its audited financial statements for the year ending June 30, 2024, as well as unaudited financial statements for the quarters ending September 30 and 31 December 2024.

The initial deadlines were October 28, November 14 and January 30, respectively.

Summit Power assured stakeholders that it would conduct the necessary audit and prepare all required reports within the extended time frame, as per the disclosure.

The development comes after the company recently sought a five-month extension from the BSEC to submit the audited financial report for the financial year 2023-24, which ended in June this year.

Publicly listed companies must submit audited financial reports within 134 days of the end of a financial year and hold the annual general meeting in the following financial year.