New directors appointed to Agni Systems

LR Global Bangladesh Asset Management Company Limited has appointed new directors for the stock market-listed IT-based company Agni Systems Limited.

LR Global Bangladesh Asset Management Company Limited holds 8.96 per cent of ordinary shares of the total paid-up capital of Agni Systems Limited, said in a filing with the Dhaka Stock Exchange (DSE) on Monday.

As per the new BSEC directive, if the sponsors or directors of any listed company fail to jointly hold minimum 30 per cent shares of the paid-up capital of a company, new directors will be appointed.

The sponsors or directors hold 23.81 per cent of the company’s total stake. After appointing the new directors, the shares will stand at 32.77 per cent.

Agni Systems’ board of directors has decided to appoint Reaz Islam and Muhammad Omar Soeb Chowdhury as the directors of the company nominated by LR Global Bangladesh Asset Management Company Limited, read the notice. 

The company’s earnings per share (EPS) stood at Tk 0.22 in January-March 2022, from Tk 0.24 recorded during January-March 2021.

Its net operating cash flow per share was Tk 1.18 for July 2021-March 2022 as against Tk 0.76 for July 2020-March 2021.

The company’s net asset value (NAV) per share was Tk 15.05 as of March 31, 2022.

Listed in 2003 in the IT sector, the company disbursed a 3.5 per cent cash dividend for the year ended on June 30, 2021.

The company’s paid-up capital is Tk 72 crore and authorised capital Tk 100 crore.