Bangladesh Securities and Exchange Commission (BSEC) has issued order declaring 17 posts of directors of nine stock market listed companies vacant for not having two percent shares.
Executive Director of BSEC and spokesman for the commission Mohammad Rezaul Karim confirmed the information and said, letters were issued against 17 directors of the nine companies in this regard in the evening.
According to the commission sources, BSEC issued letter to 61 directors of 22 companies for gaining two percent shares. Of them 25 directors bought two percent shares and 18 directors left the council board of the companies. The rest 17 directors of nine companies are still in the board of council. BSEC has declared their posts vacant.
The commission issued circular about having two percent obligatory shares for the directors on July 2. 45 days timeframe was given for this purpose and the deadline ended on last Sunday. By this time many directors have accepted the directions. Those who disobeyed the direction have been removed from their posts. But independent directors are excluded from this direction.