Dhaka, Bangladesh (BBN)-Bangas, a food and allied sector listed company on Dhaka Stock Exchange (DSE), decided to issue rights shares subject to approval of regulatory authorities and shareholders, officials said.
“The board of directors of the company has decided to issue three rights share for every one exiting share at par,” said a statement posited on DSE website on Wednesday.
The company will issue rights share for expansion of the existing manufacturing plant through importation and installation of modern high tech European origin biscuits machinery (hard and soft) and other ancillary equipments subject to the approval of the shareholders at EGM as well as the Regulatory Authority, said the statement.
In this regard, an extraordinary general meeting (EGM) will be held on 26 May, 2015 at 10am at Multipurpose Hall, Institution of Diploma Engineers, 160/A Kakrail, Dhaka.
Record date has been fixed on May 4, 2015 regarding Rights shares issuance.
Another record date for entitlement of the proposed rights shares to be notified later after obtaining approval from the Bangladesh Securities & Exchange Commission (BSEC), said the statement.
There will be no price limit on the trading of the shares of the company today (Wednesday) following its corporate declaration.
Adjusted open price of each share of the company was BDT 360 on Wednesday.