Richard Rozario to become an uncontested director at Dhaka bourse

Richard D' Rozario, the managing director of Global Securities Ltd, is poised to become a shareholder director on the board of the Dhaka Stock Exchange (DSE), as no other nominations have been submitted.

He is slated to replace Md Siddiqur Rahman, the chairman of Sterling Stocks and Securities Limited and the current director of DSE.

Rozario will secure his position on the board uncontested, as primary shareholders have expressed their preference for him, dissuading others from contesting.

The formalisation of Rozario's directorship is expected to occur during the upcoming annual general meeting (AGM) of the DSE, scheduled for 21 December.

As per the demutualisation scheme of DSE, four directors are to be elected from among the owners of primary shareholder brokerage firms.

For the election of a director, DSE has formed a three-member selection committee.

Retired High Court Judge Md Abdus Samad was chosen as the chairman to conduct the election, with Dewan Azizur Rahman and Mohammad A Hafiz representing DSE shareholders as committee members.

The election date was declared as 8 November, and the time frame for submission and withdrawal of nomination forms was set between 21-26 November.

Rozario, being the sole candidate to collect and submit the nomination form within the stipulated time frame, emerged as the uncontested nominee for the directorial position.

Given the absence of other contenders, no further votes will be accepted for the candidacy of Richard D' Rozario.