Directive on Joint-Holding of Minimum 30% Shares by Sponsors, Promoters and Directors

Bangladesh Securities and Exchange Commission Securities Commission Bhaban E-6/C, Agargaon Sher-e-Bangla Nagar Administrative Area Dhaka-1207, Bangladesh www.sec.gov.bd

No. SEC/SRMIC/2011/1240/634 Dated: March 11, 2018

Directive

Whereas, the Bangladesh Securities and Exchange Commission, (hereinafter referred to as the ‘Commission’ or ‘BSEC’), deems it fit that in the interest of investors and securities or capital markets, a direction should be issued to the parties concerned to ensure proper compliance of the Commission’s Notification No. SEC/CMRRCD/2009-193/119/Admin/34, dated 22 November 2011;

Now, therefore, in exercise of the power conferred on it under section 20A of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVII of 1969), the Commission hereby directs the Dhaka Stock Exchange Limited, Chittagong Stock Exchange Limited and Central Depository Bangladesh Limited to ensure proper compliance of the Condition No. “a)” of the Commission’s Notification No. SEC/CMRRCD/2009-193/119/Admin/34, dated 22 November 2011 in respect of maintaining all time joint-holding of minimum 30% shares of the paid-up capital of the company listed with any stock exchange by its all sponsors/promoters and directors.

This directive shall have immediate effect.

By Order of the Bangladesh Securities and Exchange Commission,

(Signature)
Dr. M. Khairul Hossain
Chairman

Distribution:

1. Managing Director, Dhaka Stock Exchange Limited
2. Managing Director, Chittagong Stock Exchange Limited
3. Managing Director and CEO, Central Depository Bangladesh Limited

Copy to:

1. All Commissioners, BSEC
2. All Executive Directors, BSEC
3. Chairman’s Office, BSEC