Beach Hatchery to hold three years’ AGMs on 28 September

Beach Hatchery Limited – which returned to production in June last year after being out of business for five years since 2016 – will hold its three years' annual general meetings (AGMs) on 28 September.

Despite several announcements, the agro farm, which got listed on the local stock market in 2002, earlier failed to hold AGMs for the 2018-19, 2019-20, and 2020-21 fiscal years.

In a stock exchange filing on Tuesday, the company said it will hold its 24th AGM on 28 September through a digital platform as per a High Court order. The meeting was originally announced to be held on 29 March, 2020.

The agro farm said it will also hold long overdue 2019-20 and 2020-21 AGMs at the same time on 28 September.

Established in 1997, Beach Hatchery used to do business at Teknaf in Cox's Bazar, but the government acquired its land to build a marine drive. So the company had to close business on 24 April, 2016.

In 2019, the company took an initiative to diversify its fish farming business using Recirculating Aquaculture System (RAS) technology provided by a Norway-based company on a turnkey basis.

Then it took a lease of 101.19 acres of land in Trishal Upazila of Mymensingh to produce Tilapia, Pangas, Koi, Sarpunti and other fishes.

In June last year, the company got back to production, and has been continuing operation since then.

Also, the agro farm returned to profit and recommended a 1% cash dividend to its shareholders.

Earlier, when it was a losing concern, the shareholders did not get any dividend.

According to information available with the Dhaka Stock Exchange, in the first three months of fiscal 2021-22, the earnings per share (EPS) of the company stood at Tk0.10, compared to Tk0.25 loss per share at the same period of the previous fiscal year.