Dhaka, Bangladesh (BBN) – Salman F Rahman, one of the Sponsors Directors of Beximco Limited and Beximco Pharma, has reported his intention to buy 1.0 million shares of the two companies at prevailing market price through Stock Exchange within next 30 working days, an announcement said on Sunday.
This was the first declaration of any sponsor-director intend to buy shares after the Securities and Exchange Commission (SEC) relaxed the condition for the sponsors/directors relating to purchase of shares during the period of two months, prior to the closure of annual accounting year of the listed companies.
On December 7, the SEC relaxed its rule at a commission meeting chaired with its Chairman M Khairul Hossain.
The relaxation has been made to facilitate the sponsors/directors to fulfill the requirement of 30 per cent stakes, in aggregate, in paid-up capital and a minimum of 2.0 per cent of paid-up capital holding for retaining their individual directorship, officials said.
BBN/SSR/AD-11Dec11- 11:56 pm (BST)