Date: 16th February 2026
To whom it may concern
This is to certify that we, Ahmed Yusuf & Co., Chartered Accountants, being the Statutory Auditors of Bangladesh NAXIS Co. Ltd. (Reg. No. C-154959, Reg. Date: 09 September 2019), have examined the books of accounts, relevant documents, and Board Resolution regarding the conversion of loan into equity.
The Company received a short-term loan of USD 700,000.00, equivalent to BDT 58,765,000.00, from its parent company, NAXIS CO., LTD., Japan, remitted to Bangladesh on 02 March 2021 through proper banking channel. The said amount has remained outstanding in the Company’s books.
As per the Board Resolution, the Company has resolved to convert the outstanding loan amount of BDT 58,765,000.00 into equity by issuing and allotting 587,650 (Five Lac Eighty-Seven Thousand Six Hundred Fifty) ordinary shares of BDT 100.00 each in favor of NAXIS CO., LTD., Japan.
We hereby certify that:
The total value of shares to be issued (587,650 × BDT 100.00) equals BDT 58,765,000.00, which matches the outstanding loan amount.
Upon such allotment, the paid-up capital of the Company will increase from BDT 29,200,000.00 (292,000 shares) to BDT 87,965,000.00 (879,650 shares).
SL.
Name of the Shareholders
Existing shares
New Allotment
Total shares After allotment
NAXIS HOLDING CO., LTD.
2,62,800
0.00
2,62,800
NAXIS CO., LTD.
29,200
5,87,650
6,16,850
Total
2,92,000
5,87,650
8,79,650
I further confirm that the above-mentioned information is correct and true as per my knowledge and understanding.
Sincerely,
🗸
_________________________
Ahmed Yusuf Mozadded, FCA
Partner of Ahmed Yusuf & Co., Chartered Accountants
Enrolment Order: 1166