Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
The Extraordinary General Meeting (EGM) of the shareholders of GPH Ispat Limited was held virtually on Sunday, 20th October 2024, at 3:30 PM.
The meeting was presided over by the Chairman of GPH Ispat Limited, Mr. Mohammad Alamgir Kabir, who also delivered the welcome address, according to a media release.
As per the agenda, a resolution was unanimously passed to issue 1 right share for every 3 ordinary shares at an issue price of BDT 15 (inclusive of BDT 5 premium), subject to approval from the Bangladesh Securities and Exchange Commission. This right share issuance is expected to raise BDT 2,419.41 million in capital, which will be utilized to install a new furnace at the company's expanded plant.
Addressing the necessity of the right share issuance, Chairman of GPH Group and Managing Director of GPH Ispat Limited, Mr. Mohammed Jahangir Alam, emphasized the importance of this move for the company’s growth.
The Additional Managing Director, Mr. Mohammed Almas Shimul, extended his thanks to the shareholders, as well as representatives of the print and electronic media, for their participation.
Also present at the meeting were Directors Mohammad Ashrafuzzaman, Md. Abdul Ahad, and Md. Azizul Hoque, along with Independent Directors Safiul Alam Khan Chowdhury and Mukhtar Ahmed.
The question-and-answer session regarding the agenda items was conducted by Executive Director (Finance & Business Development), Kamrul Islam, FCA, while the meeting was moderated by Acting Company Secretary, Mr. Mohammad Mosharraf Hossain.
In addition, Mr. H.M. Ashraf-Uz-Zaman, FCA, Group CFO, were present, alongside Independent Scrutineer, Mr. Arup Chowdhury, FCA, Partner at Ahmed Zaker & Co., Chartered Accountants, and a large number of shareholders.