Dear valued stakeholders:

On behalf of the Board of Directors of Khaza Mosaic Tiles & Stone Industries Ltd., we would also like to extend our heartfelt compliments to all of you for your patience over this extended period.

As you know due to non-compliance and misappropriation issues the company had no operation and was unable to hold the AGM since 2002 by the previous Board of Directors, even the previous management didn’t take any steps to install machinery and its operation. In this circumstances after receiv ing the approval from BSEC letter reference no: SEC/SRMIC/2021-205/02 dated February 2, 2023 and formed a new Board of Directors by appointing 5 (five) Directors. I was entrusted with the responsibility of the Chairman of the Board and Md. Forkhan as the Managing Director. The new Board took over the responsibilities on February 03, 2023, after completion of all legal formalities in RJSC.

We regret to inform you that the new Board did not get any cooperation from the previous Board or Management, hence we had to start almost from ‘Zero’ without the necessary company documents and funds except a 62 decimal of land at Ramarbag, Kutobpour, Fatulla, Narayanganj 1421without mutation in the name of the company.

At that stage, we did the mutation of the land in the name of the company but still 4 decimals of land are still pending, prepared financial statements and completed audit on the financial statement of 2002 to 2023, received the high court approval for conducting the pending 1st to 22nd AGMs of the compa ny, besides we took a long study on existing operational objective of the company and came in a collective decision that the factory land beside of dense population area which is not environment friendly and insufficient to install such a huge noise processing industry of Granite and Marble and also not possible to establish such industry in a new location within a short period of time.

Despite all these challenges we decided to hold pending annual general meetings as the company rules demand. I on behalf of all members of the Board, express sincere thanks to the Managing Director and his team for their relentless efforts to make it happen. Special thanks and gratitude to the Chairman and all members of BSEC, Managing Director of CSE, Managing Director CDBL, all audit firms for their sincere support and cooperation during all these days.

The main challenges that we have been facing are non-availability of documents, non-cooperation from the previous Board or Management, implementa tion of new project in the factory land, recent economic and foreign exchange crisis. Though we have such challenges, we are taking steps to change our business to electric cables manufacturing industry initially with a minimum capacity for domestic use with a PVC plant and gradually we will increase our capacity for industrial cables by increasing our branding image.

Finally, I express my cordial gratitude to all the members of the Board of Directors, our shareholders, regulators, banks, customers, well-wishers, employ ees, media and other stakeholders of the company for their support and cooperation in our endeavor to revive the company for the benefits of sharehold ers and economy as whole.

Thank you all.

Wishing you all the best Regards,