News Briefs-(20-04-2018)

BD Finance recommends 10pc stock div

Bangladesh Finance and Investment Company Ltd has recommended 10 per cent stock dividend for the year ended on December 31, 2017. The AGM will be held on June 07 at BCIC Auditorium in the capital. The record date is on May 17. — DSE Online

Republic Ins new CEO

Insurance Development and Regulatory Authority (IDRA) has approved the appointment of Shahid-Ul-Hasan as the Chief Executive Officer (CEO) of Republic Insurance Company Limited for a period of three years, with effect from March 11, 2018. Earlier, the company's board of directors took the decision to appoint him. — DSE Online

Delta Life Ins

In response to a query dated April 17, Delta Life Insurance Company Ltd has informed the DSE that there was no undisclosed price sensitive information of the company for recent unusual price hike of its shares. — DSE Online

Golden Harvest paid up capital restructuring

The board of directors of Golden Harvest Agro Industries Ltd has approved an increase of its share capital in Golden Harvest Ice Cream Limited, a wholly-owned subsidiary of Golden Harvest Agro Industries Limited. Subject to the approval of BSEC, the paid up capital will be increased through issuance of 15 million bonus shares of Tk 10 each, totaling Tk 150 million against retained profit from the existing shareholders. It would also issue 3.0 million ordinary shares of Tk 10 each, totaling Tk 30 million against cash consideration to the existing shareholder Ahmed Rajeeb Samdani. Another option is to issue 52 million ordinary shares of Tk 10 each, totaling Tk 520 million against cash consideration from the other than existing shareholders. Total paid up shares of Golden Harvest Ice Cream Limited will be 100 million and new proportion of the post-raising capital structure will be: Golden Harvest Agro Industries Limited 45 per cent, Ahmed Rajeeb Samdani 3.0 per cent and fresh issuance to other than existing shareholders 52 per cent.

— CSE Online