Dhaka, Bangladesh (BBN) - Four more sponsor-directors expressed their willingness to buy their companies shares at prevailing market price through Stock Exchange within next 30 working days to comply with the regulator’s recent directive to hold minimum shares.
Nazrul Islam, one of the sponsors/directors of Fareast Life Insurance Company, has expressed his intention to buy 80,000 shares in addition to his current holding of 7,10,500 shares of the company.
Fazlul Hoque, one of the directors of Islamic Finance has expressed his intention to buy 1,00,000 shares in addition to his current holding of 11,11,140 shares of the company.
Lutfar Rahman, one of the directors of Social Islami Bank, has expressed his intention to buy 5,00,000 shares in addition to his current holding of 51,000 shares of the company at prevailing market price through Stock Exchange within next 30 working days.
Engr. A.K.M Mosharraf Hussain, one of the sponsors/directors of Jamuna Bank, has expressed his intention to buy 9,14,381 shares in addition to his current holding of 63,82,427 shares of the company.
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-07Feb12-11:58 pm (BST)
