Dhaka, Bangladesh (BBN)– Four more sponsors-directors have expressed their intention to buy shares of their companies at prevailing market price through the stock exchange within 30 working days to comply with the securities regulators directive to hold minimum holdings.
Fazlur Rahman, one of the directors of Jamuna Bank the Company, has expressed his intention to buy 432,000 shares in addition to his current holding of 58,65,254 shares of the bank.
Aameir Alihussain, one of the directors of BSRM Steels the Company, has expressed his intention to buy 200,000 shares in addition to his current holding of 57,53,180 shares of the Company.
Al-Haj K. M. Habib Zaman and Latifa Rana, both are directors of the National Life Insurance, have expressed their intention to buy 1,25,000 shares and 1,15,620 shares in addition to their current holdings of 1,60,200 shares and 5,77,480 shares respectively at prevailing market price through Stock Exchange within next 30 working days.
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-23Jan12-9:18 am (BST)