Dhaka, Bangladesh (BBN) - Directors of listed companies will be able to inform the Dhaka Stock Exchange (DSE) about their buying plans until 8:00 pm every day to comply with the regulatory requirement for minimum shareholding.
The DSE said that it will receive buy/gift declaration of sponsors-directors of listed companies 10am to 8:00 pm from May 13-21 (19 May, Saturday, 10am to 3pm) instead of 10am to 6:00 pm to facilitating the directors of listed companies to complete the required formalities with DSE to comply with SEC’s directive to hold minimum share.
Earlier on November 22 last year, the Securities and Exchange Commission (SEC) made it compulsory for the sponsors, directors and promoters of listed companies to hold at least 2.0 percent stake individually in their own companies.
The commission also made it mandatory for the sponsors, directors and promoters of a listed firm to jointly hold a 30 percent stake in the firm. The SEC set a six-month deadline for compliance of the directives that ends on May 22.
BBN/SSR/AD-14May12-8:30 am (BST)
