Unsuccessful applicants stage demonstration
Wednesday, 30 December 2009
FE Report
The agitated unsuccessful applicants of Golden Son Limited staged demonstration in front of the company office and the Securities and Exchange Commission (SEC) Tuesday demanding quick solution of their refund warrants of its Initial Public Offering (IPO).
After the demonstration, Golden Son Managing Director and ICB General Manager assured the applicants that they would come for a solution to the SEC on Wednesday.
The company Managing Director Belal Ahmed said, due to mistakes done by the Softsis Data Management Limited and some errors in names and account numbers, a portion of unsuccessful applicants were not able get refund warrants.
"We sent all of the refund warrants to the respective bank accounts, but due to mistakes done by the Data Management Company they were not able to get refund warrants duly," Golden Son Managing Director Belal Ahmed told the FE.
The applicants gathered at the company's Purana Paltan office at around 1.0 pm and staged demonstration. At one stage, being unable to control the agitated crowd the company Managing Director Belal Ahmed was compelled to go to the National Press Club surrounded by the unsuccessful applicants who drew the attention of the media and tried to drum up their demand.
Afterwards, the applicants went to the SEC at 5.0 pm to seek its help, but at that time none of the SEC authority was present at the office. As a result the company Managing Director became the victim of humiliation. After a while, the second officer of Motijheel Thana saved the Managing Director from the crowd and he talked to SEC authority. But the applicants were not satisfied by a message of SEC's intervention conveyed by second officer to find a solution. Then ICB Managing Director Md. Iftekharuzzaman assured the applicants over the cell phone that the MD would come to the SEC at 11 am on Wednesday to find a solution on the basis of a discussion with the SEC and finally the company Managing Director got release from the agitated applicants.
The refund warrants of Golden son were supposed to be returned within December 17 after the earlier demonstration arranged by the applicants. But a number of unsuccessful applicants did not receive their refund warrants until Tuesday.
ICB capital management is the issue manager of Golden Son.
The agitated unsuccessful applicants of Golden Son Limited staged demonstration in front of the company office and the Securities and Exchange Commission (SEC) Tuesday demanding quick solution of their refund warrants of its Initial Public Offering (IPO).
After the demonstration, Golden Son Managing Director and ICB General Manager assured the applicants that they would come for a solution to the SEC on Wednesday.
The company Managing Director Belal Ahmed said, due to mistakes done by the Softsis Data Management Limited and some errors in names and account numbers, a portion of unsuccessful applicants were not able get refund warrants.
"We sent all of the refund warrants to the respective bank accounts, but due to mistakes done by the Data Management Company they were not able to get refund warrants duly," Golden Son Managing Director Belal Ahmed told the FE.
The applicants gathered at the company's Purana Paltan office at around 1.0 pm and staged demonstration. At one stage, being unable to control the agitated crowd the company Managing Director Belal Ahmed was compelled to go to the National Press Club surrounded by the unsuccessful applicants who drew the attention of the media and tried to drum up their demand.
Afterwards, the applicants went to the SEC at 5.0 pm to seek its help, but at that time none of the SEC authority was present at the office. As a result the company Managing Director became the victim of humiliation. After a while, the second officer of Motijheel Thana saved the Managing Director from the crowd and he talked to SEC authority. But the applicants were not satisfied by a message of SEC's intervention conveyed by second officer to find a solution. Then ICB Managing Director Md. Iftekharuzzaman assured the applicants over the cell phone that the MD would come to the SEC at 11 am on Wednesday to find a solution on the basis of a discussion with the SEC and finally the company Managing Director got release from the agitated applicants.
The refund warrants of Golden son were supposed to be returned within December 17 after the earlier demonstration arranged by the applicants. But a number of unsuccessful applicants did not receive their refund warrants until Tuesday.
ICB capital management is the issue manager of Golden Son.