Demutualisation
DSE holds postponed EGM tomorrow
The Dhaka Stock Exchange on Thursday announced that the postponed extraordinary general meeting for passing the bourse’s demutualisation scheme would be held tomorrow.
On Tuesday the DSE called off the EGM scheduled to be held on the day following a stay order from the High Court on Monday. The High Court on Wednesday withdrew its stay order on holding the bourse’s extraordinary general meeting after the DSE member Ahmed Iqbal Hasan withdrew his writ petition on personal grounds.
‘The DSE management has rescheduled its EGM. The EGM will be held at the Sonargaon Hotel in the city on November 2,’ a DSE news release issued on Thursday said.
The agenda of the meeting will remain unchanged, the release said.
As per the agenda, the bourse will adopt its new memorandum of association and articles of association in line with the demutualisation scheme, replacing the existing ones.
The new memorandum of association will disallow any shareholder of the bourse to enter into the DSE office without getting permission from the proper authority.
Proposal for increasing the authorised capital of the bourse to Tk 2,500 crore divided into 250 crore shares of Tk 10 each will also be placed before the meeting for the approval of the DSE members who will be turn into shareholders after the scheme approval.
As per the demutualisation act, the bourse has to apply to the Registrar of Joint Stock Companies and Firms for re-registration as a public limited company within seven days of holding the EGM.
The Bangladesh Securities and Exchange Commission approved the demutualisation scheme on September 26.
-With New Age input
