The shareholders of Dhaka Stock Exchange (DSE) have elected Sharif Anwar Hossain, managing director of Sahidullah Securities as the DSE's shareholder director.
Mr Hossain on Sunday became the premier bourse's shareholder director bagging 276 million votes cast in an election held at the DSE Tower, according to DSE officials.
He has become the exchange's shareholder director defeating his opponent Ahmad Rashid Lali who got 216.6 million votes.
As per the existing provision, the number of one shareholder's votes is equivalent to his number of shares held in the DSE.
As part of the demutualisation process, each of the DSE's shareholders received 40 per cent or above 2.88 million of their respective shares. As a result, a shareholder can cast 2.88 million votes in the election.
According to DSE information, 174 out of 259 voters cast their votes in Sunday's election. Of 174 voters, 97 cast their votes in favour of Mr Hossain while 76 exercised their voting rights in favour of Mr Lali. One vote was declared invalid.
The newly-elected shareholder director Mr Hossain will be included in the exchange's board for three years following the completion of the tenure of another shareholder director Md. Rakibur Rahman.
mufazzal.fe@gmail.com