BSEC relax from rules AGM, EGM, board meeting of listed companies

Stock market Desk || Published: 2020-03-24 15:09:09 || Updated: 2020-03-24 15:09:09

The stock market regulator, BSEC on Tuesday provided listed companies relaxations from the requirements related to holding of annual general meetings and board meetings to curb risk of spreading coronavirus among the participants.

The Bangladesh Securities and Exchange Commission asked Dhaka and Chittagong Stock Exchange Limited and all listed companies to consider the relaxations from rules subject to compliance of certain rules regarding holding AGM or board meetings on digital platform.

The Commission issued an order regarding the issue on Tuesday following the appeal of some listed companies.

According to the order, ‘all the listed companies are given a temporary relaxations regarding compliance with the provisions of listing regulations or other securities laws relating to holding of AGM/EGM, board of directors’ meeting, publication and dissemination of price sensitive information and requirement of monthly/quarterly submissions and other submissions to the commission and the exchanges subject to the limitations or compliances in other regulatory framework.’

In order to avoid large gathering at one place and to maintain social distancing for holding AGM/EGM and board meeting listed companies may use any digital platform at different locations subject to ensuring voting and other rights of shareholders as well as the limitations and compliances in other regulatory framework, it said.

In case of using any digital platform, proceedings of the meetings (AGM/EGM) must be recorded in both soft and hard copies in such a way so that subsequent verification can be undertaken.

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