• Saturday, Dec 14, 2019
  • Last Update : 04:37 am

DSE suspends official for wrong disclosure posting

  • Published at 10:35 pm November 12th, 2019
aci
Logo of ACI Limited Collected

A web post uploaded at 10:52am on Tuesday at www.dsebd.org said that ACI Limited’s earning per share (EPS) was Tk5.19 per share for the July-September period

Dhaka Stock Exchange (DSE) on Tuesday suspended its assistant general manager Sayed Mohammed Jubayer for uploading wrong financial discloser of Advanced Chemical Industries (ACI) Limited on the bourse’s web site.

A web post uploaded at 10:52am on Tuesday at www.dsebd.org said that ACI Limited’s earning per share (EPS) was Tk5.19 per share for the July-September period. 

However, later a correction was posted at 12:09pm saying that the company actually witnessed negative EPS of Tk 5.99 for the aforesaid period.

The share prices of ACI surged by 6% or Tk13.8 per share on Tuesday as investors anticipated that ACI might recover losses at the end of the financial year.

The DSE formed a three-member committee to investigate whether Jubayer’s act was a mistake or intentional.

Jubayer was the market operation department head of the DSE. He was replaced with DSE deputy general manager Kamrun Nahar on the day.  

DSE officials said Jubayer was suspended for his negligence in duty.

The committee was asked to submit report to the management of the DSE within November 17.

ACI Limited, a listed company with local bourses, has reported negative Tk14.87 earnings per share, which was Tk10.36 previous year. 

The company  recommended 100% cash and 15% stock dividend. The board of directors of the company recommended dividend for the year ended on June 30, 2019. 

The final approval of the dividend will come at the annual general meeting (AGM) to be held on December 23 at Officers Club, Bailey Road in capital. The record date is December 3, 2019.