2023-01-30
The market value of the shares stands at Tk15.78 crore, but the directors want to buy them at Tk6.56 crore.
In order to secure the approval of the general shareholders in this regard, the company will hold an annual general meeting (AGM) on 18 February. The final decision is subject to the approval of the Bangladesh Securities and Exchange Commission (BSEC).
Owing to its back to back losses and overall poor condition of business, Savar Refractories in August last year decided to voluntarily exit the stock market.
Lutful Tahmina Khan, wife of Home Minister Asaduzzaman Khan, is currently the chairperson of Savar Refractories. Their son Safi Modassir Khan and daughter Shafia Tasnim Khan are the managing director and director, respectively.
Of the total shares, sponsor-directors jointly hold 50.7%, institutional investors 7.2%, and general investors 42.1%.
According to the company financials, its total equity and liabilities stood at Tk22.35 crore on 30 June 2022. Its net asset value, which is revaluation asset value minus liabilities, stood at Tk13.08 crore.
Sponsored by: ACRI (The Association of China Refractories Industry), Tangshan YinNaiLian E-Business Co., Ltd.
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