Directive No. BSEC/SRMIC/194-217/508

BANGLADESH SECURITIES AND EXCHANGE COMMISSION
JIBON BIMA TOWER (14, 15, 16 & 20 FLOOR), 10 DILKUSHA C/A, DHAKA-1000, BANGLADESH

BSEC/SRMIC/194-217/508

Dated: 07 December 2016

Directive

Whereas, Bangladesh Securities and Exchange Commission (herein after referred to as the ‘Commission’) received an application from Mr. Shamsul Abedin Akhand, a sponsor shareholder of National Polymer Industries Ltd., for taking steps for restoration of his actual shareholding in his single name in National Polymer Industries Ltd. in place of joint holding as claimed in BOID No. 1203510017497777 (In house Code No. 10291) lying with Stock & Bond Ltd. (DSE TREC # 199) after making proper enquiry;

Whereas, the Commission, upon application of Mr. Shamsul Abedin Akhand, formed an enquiry committee to investigate the aforesaid issue and accordingly, the enquiry committee submitted their report to the Commission;

Whereas, after examining the aforesaid enquiry report and other relevant documents, the Commission observed that the transfer of 21,500 shares of National Polymer Industries Ltd. from single account of Mr. Shamsul Abedin Akhand to his joint account as approved by Dhaka Stock Exchange Limited vide its letter No. DSE-512/2007/8334 dated 13 December 2007 was not in line with the provisions of applicable securities laws; and

Whereas, the Commission is satisfied that in the interest of investors or securities market or for the development of securities market, it is necessary to issue a directive to the concerned parties for taking necessary steps to restore original holding of 21,500 shares (i.e. 15,07,778 shares as on 31 October 2016) of National Polymer Industries Ltd. in the single account of Mr. Shamsul Abedin Akhand from his joint account;

Now, therefore, the Commission, in exercise of its power conferred on it by section 20A of the Securities and Exchange Ordinance, 1969 (XVII of 1969), hereby directs the Dhaka Stock Exchange Ltd., Central Depository of Bangladesh Ltd., National Polymer Industries Ltd. and Stock & Bond Limited (DSE TREC # 199) to take necessary steps to restore original holding of 21,500 shares (i.e. 15,07,778 shares as on 31 October 2016) of National Polymer Industries Ltd. in the single account of Mr. Shamsul Abedin Akhand from the joint account of Mr. Shamsul Abedin Akhand & Mrs. Khaleda Akhand as well as to submit a compliance report thereof to the Commission by 31 December 2016.

By Order of the Bangladesh Securities and Exchange Commission

(Signature)
Dr. M. Khairul Hossain
Chairman

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