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Some listed multinational companies (MNCs) including Grameenphone will hold their annual general meeting (AGM) through digital platform avoiding public gathering to contain COVID-19 infection.
The move came after the securities regulator paved the way of holding AGM or EGM using digital platform amid the alarming spread of COVID-19.
The Bangladesh Securities and Exchange Commission (BSEC) on March 24 last relaxed the compliances regarding holding AGM/EGM and board meeting, among others.
Of the MNCs, Grameenphone will hold AGM today (April 21), while British American Tobacco Bangladesh Company (BATBC) will hold its AGM tomorrow (April 22).
Both the companies will hold their AGM for the year ended on December 31, 2019.
“… in the light of prevailing COVID-19 situation in Bangladesh, considering the health and safety of all the shareholders, staff and others who plan to attend the AGM 2020, Grameenphone plans to convene its 23rd AGM 2020 virtually by using digital platform,” Grameenphone said.
The officials of the Bangladesh Securities and Exchange Commission (BSEC) said both the MNCs have completed initial preparation to hold AGM using digital platform.
“The companies whose record dates were within March 25 will be able to hold their AGM through digital platform,” the BSEC official said.
He said another MNC namely SINGER Bangladesh will also hold its AGM online on May 13.
GSK Bangladesh on April 16 became the first listed company in the country to hold an AGM in a digital platform. The 47th Annual General Meeting of GlaxoSmithKline Bangladesh Limited was held on the day on digital platform, in pursuance with the BSEC order.
In announcements, the companies have described the ways of taking part in the AGM to be held online.
Shareholders can send their questions or comments using the link–http://bit.ly/gpvirtualagm-2020 before 24 hours of starting AGM.
“Shareholders can cast votes on the agenda before 24 hours of starting the AGM,” Grameenphone said.
Grameenphone recommended 40 per cent final cash dividend (i.e. total 130 per cent cash dividend for the year 2019 which represents 50.86 per cent of profit after tax for the year 2019 inclusive of 90 per cent interim cash dividend which has already been paid).
The company reported EPS of Tk. 25.56, NAV per share of Tk. 28.40 and NOCFPS of Tk. 42.50 for the year ended on December 31, 2019 as against Tk. 24.71, Tk. 27.28 and Tk. 44.74 respectively for the same period of the previous year.
The BATBC recommended 400 per cent cash dividend for the year ended on December 31, 2019.
The company reported EPS of Tk. 51.37, NAV per share of Tk. 198.85 and NOCFPS of Tk. 86.61 for the year ended on December 31, 2019 as against Tk. 55.62, Tk. 164.05 and Tk. 49.58 respectively for the same period of the previous year.
(FE)
