The Dhaka Stock Exchange board on Tuesday set January 12 to hold its next elections to elect four shareholding directors of the bourse from the first demutualised board, DSE officials said.
The election commission of the bourse headed by former district and session judge Shamsul Haque will announce the election schedule today.As per the Demutualisation Act 2013 enacted on April 29, the DSE have to form its first board within 90 days of its demutualisation.
The DSE became a demutualised stock exchange on November 21, 2013 after getting amended memorandum and articles of association certified by the Registrar of Joint Stock Companies and Firms on the day.
Demutualisation is the process which separates the bourse’s management from its ownership.
The annual general meeting of the DSE is scheduled to be holding on January 13, the next day after the elections.
A 13-member board headed by an independent director will be formed instead of 25-member board as per the demutualisation scheme.
The 13-member board will include four DSE shareholders, seven independent directors, chief executive officer of the DSE and one strategic investor.
All 250 members of the DSE turned into shareholders of the bourse after the bourse’s demutualisation.
-With New Age input
