Padma Islami Life Ins downgraded to “Z” category

Dhaka, Bangladesh (BBN)- Padma Islami Life Insurance Limited will be placed in “Z” category from existing “B” category with effect from October 12, 2014 as per Dhaka Stock Exchange (Settlement of Transactions) Regulations, 2013.
 The company has been downgraded to “Z” category since it did not recommend any dividend for the year ended on December 31, 2013, the DSE said in an announcement.
The Stock Brokers and Merchant Bankers are requested not to provide loan facilities to purchase securities of Padma Islami Life Insurance Limited starting from October 12, 2014 as per SEC Directive No. SEC/CMRRCD/2001-43/169 dated October 01, 2009.
 The Annual General Meeting of the company will be held on November 20, 2014 at 11:30 am at Jamuna Resort. The Record date is 29.10.2014.

BBN/SSR/AD-05Oct14-9:26 pm (BST)

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