Crown Cement directors to gift Tk94cr shares to family members
According to a disclosure published on the Dhaka Stock Exchange (DSE) yesterday, Mollah Mohammad Manju will transfer 30 lakh shares to his son Atiq Murshed
Four directors of Crown Cement have announced plans to gift shares worth Tk94 crore from their personal holdings to family members.
The four directors are— Mohammed Jahangir Alam, Alamgir Kabir, Mollah Mohammad Majnu and Mizanur Rahman Mollah. Of them, Jahangir serves as the company's chairman, Alamgir as vice chairman, and Majnu as managing director.
They jointly decided to transfer 1.94 crore shares of the company. Yesterday, Crown Cement shares closed at Tk48, valuing the transferred shares at Tk94 crore.
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According to a disclosure published on the Dhaka Stock Exchange (DSE) today (20 April), Mollah Mohammad Manju will transfer 30 lakh shares to his son Atiq Murshed.
According to the shareholding report, the Crown Cement managing director holds 8.17%, or 1.21 crore, of the company's shares.
Besides, Mizanur Rahman Mollah has expressed his intention to transfer 30 lakh shares each to his spouse Anowara Rahman and daughter Mushsharat Mahajabin. He holds 8.17% or 1.21 crore shares in the company.
Earlier, on 16 April, Jahangir Alam decided to transfer 15 lakh shares each to his spouse Masuma Begum, son Salehin Musfique Sadaf, and daughter Sadman Syka Sefa.
On 15 April, Crown Cement's Vice Chairman Alamgir Kabir also decided to gift 59.70 lakh shares from his holdings in the company to family members.
As per his decision, 29.70 lakh of his shares will be transferred to his son Solaiman Kabir, 15 lakh to his wife Kamrun Nahar, and five lakh each to his daughter Raisa Kabir, son Raihanul Kabir, and daughter Nusaibah Kabir.
Market insiders view the share transfers as a strategic move to gradually involve family members in the business, potentially grooming them for future leadership as company directors.
