GSPFINANCE Corporate Disclosure — 12 February 2014

BSEC has regretted its inability to consider the application of GSP Finance Company (Bangladesh) Ltd. for issuance of rights shares as the Company has failed to comply with the Commission's Notification No. SEC/CMRRCD/2006-158/134/Admin/44 dated August 7, 2012 regarding Corporate Governance Guidelines concerning appointment of required number of independent directors. Moreover, the explanation of the Company regarding dissimilarity between 'opening cash and cash equivalents' & 'closing cash and cash equivalents' for the year ended on December 31, 2010 and for the year ended on December 31, 2009 respectively is not convincing. As such, financial statements have not been prepared as per International Accounting Standards (IAS).