Order related to depository

SEC/CDS/2:22/99/187 18 July 2004
Order related to depository

In the interest of the healthy development of investors and the securities market, it is necessary to apply certain policies related to depositories without delay. Therefore, under the powers granted in Section 14 of the Depositories Act, 1999 (Act No. 6 of 1999), the Securities and Exchange Commission issues the following instructions to all concerned:

a) In the case of allocation of primary shares (IPO), except for joint accounts, if an application is made in a single name, it must be included in the corresponding single-name depository account, and in the case of joint-name applications, it must be included in the corresponding joint-name depository account.

b) In the case of securities transfer (transfer), except for joint accounts, securities in a single name must be included in the corresponding single-name account, and securities in a joint name must be included in the corresponding joint-name depository account.

c) Eligible companies (companies whose securities are traded on the stock exchange) must declare a record date (record date) one day (1 day) prior to book closure instead of book closure for corporate announcements (dividends, rights issues, etc.). Shareholders whose names are included in the record after the end of the record will be entitled to receive dividends or rights shares according to this announcement.

d) No trading of the company's securities on the stock exchange will take place on the record date.

e) The stock exchange will arrange only spot trades (spot trade) in the settlement cycle preceding the record date.

f) No depository participant can hold any securities of the company in a clearing account on the record date.

g) The above instructions will take effect immediately.

By order of the Securities and Exchange Commission Farhad Ahmed Executive Director