Dhaka, Bangladesh (BBN)- The Dhaka Stock Exchange (DSE) management has suspended share trading of Janata Insurance Company for an indefinite period following violation of laws, officials said.
The DSE authority has decided to suspend share trading of the company as it declared dividend and adopted accounts for the year ended on December 31, 2011 without the approval of previous year’s dividend, by share holders in the AGM, said a DSE statement posted on the website.
As per the rules, a listed company can not declare dividend without approving its previous year’s declaration and adaptation financial accounts through Annual general meeting (AGM) with presence of general share holders.
The board of directors of the company has recommended 10 per cent stock dividend for the year ended on December 31, 2011 while it had declared 15 per cent stock dividend for the year 2010.
BBN/SSR/AD-15May12-9:38 am (BST)