Manzur Elahi's MTB shares to be transferred to nominees

Following the passing of Syed Manzur Elahi, chairman of Mutual Trust Bank (MTB) and Apex Group, the bank has announced that over 3.12 crore of his shares in MTB will be transmitted to his nominated successors.

According to a formal disclosure of the bank, 3,12,66,321 shares out of his total holding of 3,43,29,953 will be equally divided between his son Syed Nasim Manzur, a placement holder of the bank, and his daughter Munize Manzur, a sponsor and former director. Each will receive 50% of the transferred shares.

The transmission of shares has been carried out in line with corporate governance standards and regulatory procedures, said the bank.

Elahi played a pioneering role in the development of Bangladesh's footwear industry and was widely respected for his contributions to both the corporate world and philanthropic initiatives.

Yesterday, MTB shares closed at Tk11.70 on the Dhaka Stock Exchange (DSE).

Walton director to gift shares to children

Meanwhile, SM Ashraful Alam, a sponsor director of Walton Hi-Tech Industries, has declared his intention to gift 60 lakh shares of the company to his children.

According to a separate disclosure, Ashraful will transfer 30 lakh shares to his son Shahriar Alam Shuvo and another 30 lakh shares to his daughter Fariha Alam Prova. Both recipients are general shareholders of the company.

The share transfers will be conducted outside the trading system of the exchange and are expected to be completed by 30 April, in accordance with applicable regulations.

Yesterday, Walton's share price stood at Tk452 on the DSE.