As per the capital market regulations, the listed companies, which complete financial year in June, had to get the financial statements audited to declare AGM dates within 120 days after ending a year. According to the regulations, the companies also had to hold AGMs within six months after the end of the year.

According to capital market sources, October 31 was the last day for the companies, which complete financial year in June, to get financial statements audited to declare AGM dates while December 31 was the last day for holding the AGMs.

The companies which failed to hold AGM include Anwar Galvanising, Ashraf Textile, Bangladesh Luggage, BCIL, Bangladesh Zipper Industries, Bengal Biscuits, Chic Textile Ltd, Eagle Box & Carton, Eagle Star Textile, Eastern Cables, Eastern Lubricants, M Hossain Garments, Maq Enterprises, Metalex Corporation, Mona Food, Perfume Chemicals, Pharmaco International, Raspit Data Management, Raspit Incorporation (Bangladesh), Rose Heaven Ball Pen, Sonali Paper and Tamijuddin Textile. Of the companies, trading of Eagle Box & Carton, Metalx Corporation and Sonali Paper remains suspended.

The Securities and Exchange Commission (SEC) will take actions against the companies which failed to prepare their financial statements in due time and hold AGMs without valid reasons.

The capital market watchdog will also fine the directors of the companies if they fail to provide valid reasons, said an SEC official.

Two new companies on DSE
Dhaka Stock Exchange (DSE) at a board meeting yesterday permitted two new companies to get listed with the country's premier bourse.

The two companies are Berger Paints BD Ltd and Progressive Life Insurance Ltd.

With the two, the DSE listed 14 companies for trading on the bourse in 2005, the highest annual listings in last five years.

Progressive Life Insurance floated its initial public offering (IPO) in October while Berger Paints BD in November.