Conditions for Consent to Issue of Capital and Public Offer of Securities

NOTIFICATION
September 27, 2009
No. SEC/CMRRCD/2008-183/Admin/----------------Whereas, the Securities and Exchange Commission deems it fit that the consent already accorded by the Commission, or to be accorded by it in future, to the issue of capital in Bangladesh, or to the public offer of securities for sale, should be subject to certain further conditions in the interest of investors and the capital market; Now, therefore, in exercise of the power conferred by section 2CC of the Securities and Exchange Ordinance, 1969 (XVII of 1969), the Securities and Exchange Commission hereby imposes the following further conditions to the consent already accorded by it, or to be accorded by it in future, to the issue of capital in Bangladesh, or to the public offer of securities for sale, namely:-

1. The board of directors of the issuer of a listed security shall hold the board meeting
   involving price sensitive decision either after the trading hour or on a holiday;
2. The issuer Company excepting the life insurance company shall, within 45 (forty five)
   days of end of the first quarter (Q1) and 30 (thirty) days of end of the third quarter (Q3) of the financial year, submit quarterly financial statements (audited/un-audited) to the Commission and the stock exchanges, and publish the same in at least two widely circulated national dailies, one in Bangla and the other in English. In case of significant deviation in any parameter between the quarterly periods the issuer Company will provide reasons therefor:
   Provided that the life insurance company shall, within 90 (ninety) days of end of Q1 and 30 (thirty) days of end of Q3 of the financial year, submit quarterly financial statements (audited/un-audited) to the Commission and the stock exchanges, and publish them in the same manner as above. By order of the Securities and Exchange Commission Md. Ziaul Haque Khondker Chairman.