Two DSE cos default on holding AGMs
Thursday, 7 January 2010
FE Report
Two companies out of 236 listed with the Dhaka Stock Exchange (DSE) have defaulted on holding annual general meetings (AGMs).
The companies are Delta Life Insurance and Quasem Silk Limited, according to DSE officials.
The last AGMs of Quasem Silk and Delta Life Insurance were held on July 16, 2007 and July 18, 2004 respectively.
Many listed securities have already held AGMs while the remaining companies, which ended their fiscal years in June and December, still have time to hold AGMs duly.
"A company gets nine months after its year-end to hold the AGM. If a company fails to hold the AGM within this time, it will be considered a defaulter. So the remaining companies still have time to hold their AGMs," a DSE official said.
About eight companies are scheduled to hold their AGMs in January.
The AGM of Delta Life Insurance has been remaining pending since 2005, due to a case filed with the High Court.
Two companies out of 236 listed with the Dhaka Stock Exchange (DSE) have defaulted on holding annual general meetings (AGMs).
The companies are Delta Life Insurance and Quasem Silk Limited, according to DSE officials.
The last AGMs of Quasem Silk and Delta Life Insurance were held on July 16, 2007 and July 18, 2004 respectively.
Many listed securities have already held AGMs while the remaining companies, which ended their fiscal years in June and December, still have time to hold AGMs duly.
"A company gets nine months after its year-end to hold the AGM. If a company fails to hold the AGM within this time, it will be considered a defaulter. So the remaining companies still have time to hold their AGMs," a DSE official said.
About eight companies are scheduled to hold their AGMs in January.
The AGM of Delta Life Insurance has been remaining pending since 2005, due to a case filed with the High Court.