GQBALLPEN Corporate Disclosure — 15 June 2014

BSEC NEWS: Bangladesh Securities and Exchange Commission (BSEC) has imposed penalty of Tk. 2.50 lac each upon Mr. Quazi Salemul Haque (Chairman/Managing Director), Ms. Salma Haque (Director), Mr. Quazi M. Salman Sarowar (Director) and Ms. Sara Haque (Director) of GQ Ball Pen Industries Ltd. for contraventions/violations of BAS-7 (incorrect cash flow statement), BAS-1 (true and fair view), BAS-12 (non-calculation of deferred tax liabilities properly) and BAS-16 (non charging of depreciation on revalued assets); Rule 12(2) of Securities and Exchange Rules, 1987 and Section 18 of the Securities and Exchange Ordinance, 1969 (submission of untrue and incorrect financial statements).