24 listed cos relegated to 'B' category
Saturday, 2 January 2010
FE Report
A total of 24 'A' category companies will be relegated to 'B' category from January 3, as these companies have not demated their shares within December 31 as per the earlier directive set by the Securities and Exchange Commission (SEC).
According to SEC directive the companies, which are relegating to 'B' category from the existing 'A' category are: Monno Jutex, Monno Stafllers, Renwick Jajneswar, Gemini Sea Food, National Tea, Bangladesh Plantation, Hill Plantation, Fine Foods Limited, Eastern Lubricants, Jute Spinners, Sonali Aash, Saiham Textile, Prime Textile, Pharma Aids, Kohinoor Chemicals, Libra Infusions Limited, Orion Infusion, Azadi Printers, Bangladesh Hotels, Bangladesh Services, Monno Ceramic, The Engineers, Himadri and Sinobangla Industries.
However, a few company authorities said they were not sure whether the SEC would execute its directive or not. On the other hand, a few company authorities were not agreed to speak about the future relegation of their companies when it was contacted.
The SEC earlier said in its directive that the listed companies in 'A' and 'B' category were required to participate in CDBL and demat their securities within 31st December 2009. The companies, which will not demat their shares within the aforesaid date, will be relegated to lower category. Accordingly, Any lower category securities which otherwise fulfill the required criteria of 'A' category, will not be promoted if it's securities remain non-demated.
In the capital market there are 24 'A' category companies, 16 `B' category companies and 19 'Z' category companies, which have not yet demated their paper shares.
A total of 24 'A' category companies will be relegated to 'B' category from January 3, as these companies have not demated their shares within December 31 as per the earlier directive set by the Securities and Exchange Commission (SEC).
According to SEC directive the companies, which are relegating to 'B' category from the existing 'A' category are: Monno Jutex, Monno Stafllers, Renwick Jajneswar, Gemini Sea Food, National Tea, Bangladesh Plantation, Hill Plantation, Fine Foods Limited, Eastern Lubricants, Jute Spinners, Sonali Aash, Saiham Textile, Prime Textile, Pharma Aids, Kohinoor Chemicals, Libra Infusions Limited, Orion Infusion, Azadi Printers, Bangladesh Hotels, Bangladesh Services, Monno Ceramic, The Engineers, Himadri and Sinobangla Industries.
However, a few company authorities said they were not sure whether the SEC would execute its directive or not. On the other hand, a few company authorities were not agreed to speak about the future relegation of their companies when it was contacted.
The SEC earlier said in its directive that the listed companies in 'A' and 'B' category were required to participate in CDBL and demat their securities within 31st December 2009. The companies, which will not demat their shares within the aforesaid date, will be relegated to lower category. Accordingly, Any lower category securities which otherwise fulfill the required criteria of 'A' category, will not be promoted if it's securities remain non-demated.
In the capital market there are 24 'A' category companies, 16 `B' category companies and 19 'Z' category companies, which have not yet demated their paper shares.