Dhaka, Bangladesh (BBN) – Five more sponsor-directors of three companies expressed their willingness to buy their companies shares at the prevailing market price through Stock Exchange within next 30 working days to comply with the securities regulator’s directive to hold minimum shares.
Al-Haj Mohd. Yousuf Chowdhury, one of the directors of Standard Bank, has expressed his intention to buy 8,44,000 shares in addition to his current holding of 72,78,800 shares of the Company.
Durand Mehdadur Rahman, Tahmina Rahman Tina and Zakia Rahman, all are sponsors/directors of Uttara Finance, have expressed their intention to buy 1,00,000 shares, 50,000 shares and 50,000 shares in addition to their current holdings of 6,15,998 shares, 12,31,998 shares and 13,48,666 shares respectively.
Aquamarine Distributions Ltd., one of the Corporate Directors of Eastern Bank, has reported its intention to buy 78,00,000 shares in addition to its current holding of 14,34,664 shares of the bank.
The Securities and Exchange Commission (SEC), through a notification issued earlier, also made it compulsory for the sponsors, directors and promoters of a listed company to jointly hold at least 30 percent stake.
The SEC also asked the sponsors, directors and promoters, who individually have less than 2.0 percent stake and jointly less than 30 percent, to acquire the necessary stocks within six months of issuance of the notification.
BBN/SSR/AD-16Feb12-10:23 am (BST)
