BSEC dissolves 6th errant listed company’s board
Star Business Report
Star Business Report
The Bangladesh Securities and Exchange Commission (BSEC) yesterday dissolved the board of Emerald Oil and formed a new one in a bid to improve its performance.
The listed edible oil producer is the sixth company whose boards were created anew as per a decision taken by the regulator earlier.
The previous five companies were C&A Textiles, Ring Shine Textiles, United Airways, Familytex (BD) and Alhaj Textile Mills.
The BSEC last year decided to bring about the change if any company remained in losses for at least two years, or if company sponsors fail to hold at least 30 per cent of shares jointly.