-wants trading suspended in the interim
Banks DIH (BDIH) has written the securities council expressing extreme concern at the fall in its share price despite large profits and has called for a full investigation of the matter and a suspension in the trading of its stock.
Since its Annual General Meeting on January 27 this year the matter has come to a boil and in a notice to shareholders in the June 6th edition of Stabroek News, Banks DIH, one of the oldest and largest private companies here, went public with its correspondence to the Guyana Securities Council (GSC).
In the June 4th letter to the GSC, Banks DIH said “…please note that for the period 2019 to 2023 revenue increased by some 48.8 per cent and profit after taxation increased by some 79.7 per cent. By way of contrast, the share price was $300 per share in March, 2022 and in May, 2024 it is now $115 per share, a decline of some 61.7 per cent. Such a comparison of the price of shares going down as the same time that profits are going up defies any logical explanation and raises fundamental questions as to the integrity of the Stick Market. Any reasonable person would consider that the Stock Market in Guyana cannot be taken seriously!”
