On 13 May 2026, BNG SEC amended notification re minimum shareholding.
- BNG SEC amended Notification no. BSEC/CMRRCD/2009-193/217/Admin/90 dated 21 May 2019, concerning minimum shareholding conditions for listed company directors.
- Amendment adds a proviso after condition no. 3 in the 21 May 2019 circular.
Condition No. 3
- Condition no. 3 states: if the sponsors and directors other than independent directors of any listed company fail to jointly hold the aforesaid amount of shares, the respective company shall not be able to raise capital via rights share offer or repeat public offer.
- Or bonus shares or amalgamation of companies or any other mode of raising of capital.
Effectiveness
- The amendment is effective immediately on 13 May 2026.
