Directive to companies which declared layoff

SEC/SRMIC/94-198 July 04, 2010.
DIRECTIVE
In exercise of the power conferred by section 20A of the Securities and Exchange Ordinance, 1969 (XVII of 1969), the Securities and Exchange Commission hereby directs the companies listed with the Dhaka Stock Exchange Limited and the Chittagong Stock Exchange Limited, including the companies listed in the OTC of the said Exchanges, to the effect that; - The companies that declare Lay-off of their factory shall hold Extra Ordinary General Meeting (EGM), within one month of such declaration or within one month of issuance of this directive, as the case may be, to inform its shareholders the reasons behind such Lay-off of the factory and to take decision on probable date of reopening the factory and the future planning of the company regarding its operation. The company shall submit the relevant notice of EGM and the decision taken in the EGM to the Commission, Stock Exchanges and the shareholders concerned immediately upon issuance of the notice and holding of the EGM. By Order of the Securities and Exchange Commission Anwarul Kabir Bhuiyan, Executive Director. Copy to:

1. Chief Executive Officer, DSE
2. Chief Executive Officer, CSE
3. President, Bangladesh Association of Publicly Listed Companies (BAPLC)
4. Bangladesh Merchant Bankers’ Association (BMBA)
5. Deptt. heads, SEC
6. Chairman’s Office, SEC.