Beach Hatchery men face music

---

FE Report The securities regulator has imposed a fine of Tk 2.0 million on the company secretary and the computer operator of a listed company---Beach Hatchery---for embezzling the bonus shares of general shareholders, officials said. The regulatory move comes after a probe committee of Dhaka Stock Exchange (DSE) found in October 2010 that the company secretary of Beach Hatchery grabbed 21 thousand bonus shares of general shareholders with the collaboration of the computer operator Abdul Alim. The DSE committee, later recommended the regulator to take tough action against the officials responsible for embezzling bonus shares. An official of the Securities and Exchange Commission (SEC) Saturday told the FE that the SEC penalised Nur Islam, the company secretary of Beach Hatchery, and the computer operator Abdul Alim Tk 1.5 million and half a million respectively. According to DSE findings, Abdul Alim, the computer operator of the company sold out 21 thousand bonus shares, offered for general shareholders in July last year, through his beneficiary owner's (BO) account opened at a brokerage firm situated at Motijheel. The DSE officials also said the shares, which were sold out by Mr Alim, were transferred into his BO account from the company's suspense BO account, used to disburse shares into shareholders accounts. Without disbursing the bonus shares into accounts of general shareholders, the transferred shares into the account of Alim. They said the company secretary receipt the cheques from Alim after completing the sale of bonus shares of general shareholders.