The Dhaka Stock Exchange is likely to announce this week election schedule to elect it first board after the demutualisation of the bourse in November last year, DSE officials said.
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 DSE is likely to declare the election schedule at a board meeting to be held on Tuesday this week, a DSE official said.
Four shareholders of the bourse will be elected directors of the board in the election likely to be held on February 11, he said adding that annual general meeting of the DSE would be hold on February 13.
All 250 members of the DSE turned into shareholders of the bourse after the bourse’s demutualisation.
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.
-With New Age input
