The Performance Appraisal System In British Airways Commerce Essay

The Performance Appraisal System In British Airways Commerce Essay Effective People resources include not only the acquisition of quantity and quality of people, as well as management employees to endorse that performance is constantly reviewed, and at a level that meets the objectives of the organization. It is important that employees should know what is expected from of them, not only in terms of roles and responsibilities, but also in terms of performance. The research proposal involves mainly the performance appraisal system of British Airways. The study aims to analyze the performance, evaluation, monitoring, hearten and build up and improve their effectiveness, in turn contributes to the success of the organization. Performance appraisal includes an assessment of the employee, opinion for people and confrontation, as productivity can be improved. Definition of performance appraisal: Managing people at work of all fears in the management of the interaction between what is inside people have the human potential, and the inclination and needs, and the fact that in the work, i.e. quantity and quality output, and the satisfaction that people can get from their work. By BSPS 2003 expertise is regularly record the evaluation of the employee, the potential and development needs. Certification is an opportunity to take an overview of the work content, loads and volume, to look at what was achieved during the reporting period and agree objectives for the next Reference Organization: The structure of the worlds leading airline focused on improving operational efficiency and financial fit, In order to achieve strategic objectives. British Airways is necessary to measure HR performance in business and make their managers abide the responsibility for the delivery of objectives. British Airways is the UKs largest international scheduled airline, flying more than 550 destinations at convenient times, to the best located airports. Whether customers in the air or on the ground, British Airways is proud of providing a full service experience. British Airways group consists of British Airways PLC and a number of subsidiaries, including, in particular, British Airways Holidays Limited and British Airways Travel Shops Limited. __________________________________   Ã‚  Consultation, conciliation and arbitration (2003 employees Appraisal) Performance measurement and objective: My purpose of the study is to analyze and evaluate the activities of British Airways evaluation and performance management system, which is used to measure the effectiveness of staff I developed the following questions about the support of my statement of the problem: What is an appraisal management system, which is used in British Airways? What is the difference between the performance appraisal management in British Airways? What tools, techniques and standards, British Airways uses to analyze and evaluate effectiveness? As British Airways can increase their efficiency, quality, motivation and employee satisfaction? Objectives: There are a few goals of my research: à ¢Ã¢â€š ¬Ã‚ ¢ Measuring performance against goals and objectives, ie what has been achieved à ¢Ã¢â€š ¬Ã‚ ¢ Measuring the performance of core competencies, ie how it was achieved à ¢Ã¢â€š ¬Ã‚ ¢ Feedback results à ¢Ã¢â€š ¬Ã‚ ¢ To improve communication and understanding between managers and staff à ¢Ã¢â€š ¬Ã‚ ¢ identification of functions that need to be improved à ¢Ã¢â€š ¬Ã‚ ¢ recognition and validation of performance à ¢Ã¢â€š ¬Ã‚ ¢ To fulfill the goals and objectives à ¢Ã¢â€š ¬Ã‚ ¢ Identification of key competencies Literature Review 2,1 PAS: PAS is the official system, which assesses the quality organization.The managing people at work are most concerned about controlling the interaction between what is inside people have the human potential, aptitude and needs, and that in the work, ie quantity and quality of output, and the satisfaction that people can get from their work. People go to work, to apply their capabilities, inclinations and needs to target the organization of production of goods and services in the economic quantity and quality. To assess how well they perform in the organization to achieve its objectives is assessing effectiveness. According to official Gluck evaluation is a system created at the plant regularly and systematically assess the work of employees Although Kenney, Donnelly and Reed defined it as assessment of the employee on his staff strengths and weaknesses On the other hand, Anderson describes the performance appraisal as a tool for learning and development, he said if the strengths and weaknesses of the employee, not known, it would be only a coincidence that development efforts will be directed in the right direction. By BSPS 2003 expertise is regularly record the evaluation of the employee, the potential and development needs. Certification is an opportunity to take an overview of the work content, loads and volume, to look at what was achieved during the reporting period and agree objectives for the next Fletcher and Williams (in 1985) went even further. They said that judging people is not the only thing they do when they evaluate the effectiveness of rights. They believe that there are actually two conflicting roles, participating in the evaluation, ie, the referee and assistant. This certification can be seen, at least in theory, but a process that brings together all the various approaches to managing performance and allows managers to implement them. This procedure, which can both reward and discipline, through which employees can be a coach and counseling, as well as vehicles through which improvements in productivity can be negotiated. a.d.b.p p author. Date.book name. Place of publication, publisher What 2,2 PAS? PAS involves the identification, measurement and management of human activities in the organization, as shown in Figure 1.1 Figure 1.1: Model evaluation 2.2.1 Identification: This means determining the direction of the manager should consider when measuring performance. The first step in the implementation of the evaluation process is to determine what to measure. It must be rational and legally justified on the basis of analysis work. The process of determining the performance dimensions very similar to the work of the analysis. The evaluation system should focus on performance, which affects the organizational success, not the performance is irrelevant characteristics such as race, age or sex. Definition of performance measurement is one of the most important steps in the process of certification. If you missed, it will demoralize the staff, because he will not be recognized in this dimension. In addition, if a value dimension included employees may perceive the process as meaningless. 2.2.2 Units of measurement: The second part of the evaluation is to measure employee performance. This entails making management decisions, as good or employee Bad was or is. The good results of the measurements should be consistent throughout the organization. All managers in the organization must maintain comparable standards of evaluation. Measuring employee involves assigning number reflects the performance of the employee to determine characteristics or dimensions. In general, this measurement is to determine the level of performance to judge the quantity, quality, timeliness and / or economic performance with a set of standards. For example, what has been achieved? It can also serve as a basis for determining when these achievements deserve special recognition. It is difficult to quantify the performance measurements. E.g. Creativity can be one of the important aspects of the advertising copywriter, but the measure creativity is difficult. How can you measure creativity? This is the number of ads written year The number of ads win industry awards, Or any other criterion? These are some of the issues that managers will face when trying to assess the effectiveness of the employee. 2.2.3 Management: The Office is the main objective of any evaluation system. Score more than in the past-oriented activities, which criticizes or praises employees for their work in the previous year, rather, an assessment should perspective view of the fact that the employee can do to realize their potential in the organization. This means that the manager must ensure that workers with feedback and coach them to higher levels of productivity. 2,3 is the difference between the results of evaluation and performance management It is usually assumed that the performance appraisal is the same as Performance Management. But there are significant differences. PAS is an important part of performance management. This in itself is not performance, but is one of the tools that can be used to manage performance. First, we must understand the word performance. What does that word mean? It is important to clarify what it means. There are different views on that performance. Bates and Holton said that The performance of a multidimensional construct, the measurement of which varies depending on various factors. Kane (1996) argues that performance is that people leave behind and that there is a separate form of goals. According to Al Bernadine and others performance should be defined as the work because they provide a strong connection with the strategic objectives of the organization, customer satisfaction and economic contribution. The initial value of productivity in the Oxford Dictionary is the achievement, performance, conduct, develop anything ordered or undertaken. From this we can pass on performance of doing the work, as well as about the result achieved. As productivity Campbell behavior, and should be distinguished from the result, because the behavior may be infected system factors A more complete picture of the performance behavior of hugs and out forward. It is well placed Brumbrach:   Performance means that both behaviors and results. The behavior comes from the artist and transform the performance of abstraction to action. Not only documents the results, the behavior and results in themselves a product of mental and physical effort in relation to problems and can judge, except the results. Now we know that the performance of both inputs (the behavior) and outputs (results) groups, individual or organization. PAS can be defined as a formal evaluation and assessment of people on their heads. On the other hand performance on the management of the organization. This strategy that we are talking about broader issues and long-term goals. Performance management is a natural process management rather than systems or equipment. Armstrong and Baron (1998) to determine the effectiveness of management, such as: The process, which contributes to the effective management of individuals and groups in order to achieve a high level of organizational effectiveness. Thus, it establishes a common understanding of what needs to be achieved, and the approach to leading and developing people who will ensure this is achieved. According to Armstrong, Baron (1998) Performance management should be a device or means to ensure that managers of good governance. Managers must ensure that individuals or groups they manage: à ¢Ã¢â€š ¬Ã‚ ¢ Know and understand what is expected of them. à ¢Ã¢â€š ¬Ã‚ ¢ Have the skills necessary to meet these expectations. à ¢Ã¢â€š ¬Ã‚ ¢ Supports the organization in developing the capacity to meet these expectations. à ¢Ã¢â€š ¬Ã‚ ¢ We give feedback. à ¢Ã¢â€š ¬Ã‚ ¢ Be able to discuss and contribute to individual and team goals and objectives. The differences between them, and summed up Armstrong and Baron are in Table 1.1 Performance evaluation of management effectiveness From top to bottom evaluation of a collaborative process based on dialogue The annual assessment meeting constant review with one or more formal reviews Use of estimates Rating least Monolithic System Flexible process The focus on quantitative goals focus on values and behavior, as well as goals Often linked to pay less likely to be a direct link to pay Bureaucratic complex documents Documentation kept to a minimum Owner The owner of the personnel department line manager

Civil rights DBQ Essay

Teakolya Gibson May 29, 2014 MS 390 805 Civil Rights DBQ Essay The civil rights movement was a time period that can be defined as a large popular movement to secure for African Americans equal access to and opportunities for the basic privileges and rights of U.S. citizenship. The roots of the civil rights movement go back to the 19th century; the movement was addressed in the 1950s and 1960s. African American men and women, also whites, organized and led the movement at national and local levels. They pursued their goals through legal means, negotiations, petitions, and nonviolent protest demonstrations. The largest social movement of the 20th century, the civil rights movement influenced the modern women’s rights movement and the student movement of the 1960s. In public schools African Americans faced inequality in their learning experience. According to the document the inequality Blacks faced were they were not involved as much in school because of their race, even though physical facilities are equal and also other real factors could be equal, the programs deprive children from minority groups of equal educational opportunities. From my understanding of the document, the Supreme Court ruled in favor of Brown and declared that segregation in the public schools was unconstitutional. The situation that led to Rosa Parks getting arrested was on December 1, 1955 is when she refused to give up her seat to a White man because there were no more seats in their area on a Montgomery bus. Methods that African Americans use to deal with the inequality faced by the African Americans in that city were bus boycott, nonviolent protest, passive resistance, and peaceful protest. A method that was used to gain equality is sit-ins, pickets, taking part in a public demonstration, filling up all of the seats in a Restaurant, sitting at the lunch counter, and nonviolent protest. Two goals of the March on Washington in August 1963 were to get jobs (equal employment opportunities), gain decent/acceptable housing, end segregation in Schools, gain more equal rights, increase the number of integrated facilities, end Jim Crow laws, gain voting rights, end police brutality, attain first-class citizenship, get equal restaurant services, receive decent pay, and pass the  FEPC (Fair Employment Practices Committee) law, bring civil rights issues to the attention of the Government, and show Washington that they needed to do something to improve civil rights. There were many methods recommended but W.E.B Du Bois thought that they should fight for their rights and equality. Booker T. Washington believed that they should get an education and work their way up to equality. The major trend in African American voter registration that is shown by the map above is that voting population of African Americans increased after 1965, more African Americans were registered to vote after 1965, more African Americans voted after 1965, more people voted after 1965. The two actions that were taken by the government were in 1964 the twenty-fourth amendment outlaws the pool tax in elections for federal office, and second was in 1965 Voting Rights Act prohibits literacy tests and makes it easier for African Social movement Americans to register to vote. Methods that were recommended to help African Americans achieve equality were nonviolence, nonviolent resistance, use of nonviolence as Jesus did, not one hair of one head of one White person shall be harmed, no harm to White people. African Americans have made gains in racial equality. African Americans still face challenges in areas of equal rights such as economic inequality, economics, African Americans are not getting jobs because of the color of their skin, they are not being paid enough for their labor, jobs, and job Discrimination, making less money than whites, they are still in an economic pit. In conclusion, discrimination is still active in America today. Even after the Civil Rights Movement, a disparity still exists in education, the work place and society. Today, unfortunately, discrimination and social segregation are more evident than it has ever been.

Prospectus of bsrm steels limited Essay

Declarations and due diligence certificates Declaration about the responsibility of the Directors including the CEO of the Company in respect of the prospectus Consent of the Directors to Serve Declaration about filing of prospectus with the Registrar of Joint Stock Companies & Firms Due Diligence Certificate of Manger to the Issue Due Diligence Certificate of the Underwriter(s) Risk factors & management perceptions about the risks Capital structure Use of IPO proceeds Description of business Back ground of the project Important date Nature of business Principal products and services The Rolling Process Market for the BSRMS Products Relative contribution to income Associate subsidiary/related holding company Distribution of products/services Sources and availability of raw materials and principal suppliers Competitive condition of business Sources of and requirement for power, gas and water or any other utilities Customer providing 10% or more revenues Contract with principal customers and suppliers Material patents, trademarks, license or royalty agreements Number of employees (as per audited accounts) Capacity and current utilization of facility Description of property Financial Condition and Plan of Operation Internal and external sources of fund (as per audited accounts) Material commitment for capital expenditure Causes for material changes Seasonal aspect of the Company’s business Known trends, events or uncertainties Change in the assets of the Company used to pay off any liabilities Loan taken from holding/parent company or subsidiary company Loan given to holding/parent company or subsidiary company Future contractual liabilities Future capital expenditure VAT, income tax, customs duty or other tax liability Operating lease agreement Financial lease and other financial commitment Personnel related scheme Revaluation of assets Breakdown of issue expenses Auditors certificate regarding any allotment of shares to promoters or Sponsor shareholders for consideration other than in cash -5- Page No 7 7 10 11 11 11 11 12 12 13 15 15 15 15 15 15 16 16 17 17 17 17 17 18 18 18 18 19 19 19 19 20 20 20 20 20 20 21 21 21 21 21 21 21 21 21 21 22 22 Issuer Issue Managers  ¦  ¦  ¦ Alliance Financial Services Limited BSRM Steels Limited South Asia Capital Limited Item Transactions with subsidiary/holding company or associate companies Material information which is likely to have an impact Directors and officers Information regarding directorship Directors involvement in other organization Family relationship among directors and top five officers Short bio-data of the directors Credit information Bureau (CIB) report Description of senior executive and departmental heads Involvement of Directors and officers in certain legal proceedings Certain Relationships and Related Transactions Transaction with related parties Directors facilities Executive compensation Remuneration paid to top five salaried officers Aggregate amount of remuneration paid to directors and officers (as audited accounts) Remuneration paid to Director who was not an officer Future compensation to Director or officers Pay increase intention Options granted to Directors, officers and employees Transaction with the Directors and subscribers to the Memorandum Tangible assets per share Ownership of the Company’s securities Composition of Shareholders Share hold by Directors Shareholding structure 5% or more as on 30 April 2008 Securities owned by the officers Determination of offering price Market for the securities being offered Declaration about listing of shares with Stock Exchange Trading and settlement Description of Securities outstanding or being offered Dividend, voting, pre-emption rights Conversion and liquidation rights Dividend policy Other rights of shareholders Debt securities Lock-in on sponsors share Refund of subscription money Subscription by and refund to non-resident Bangladeshi (NRB) Availability of securities Offer Application for subscription Allotment Underwriting of shares Principal terms and conditions of underwriting agreement Underwriter’s right to represent in the Board of Directors of the Company Auditors report to the shareholders Audited Financial Statements Auditors report under section 135(1), Para 24(1) of part II of schedule III to Companies Act, 1994 Ratio Analysis Additional disclosures as required by Securities and Exchange Commission Credit rating report of BSRMS Application forms -6- Page No 23 23 23 23 24 25 26 26 27 27 27 27 28 28 28 28 28 28 28 29 29 29 29 29 29 30 30 30 30 31 31 31 31 31 31 32 32 32 36 36 36 36 37 38 38 38 38 39 40 54 55 57 59 76 Issuer Issue Managers  ¦  ¦  ¦ Alliance Financial Services Limited BSRM Steels Limited South Asia Capital Limited Disclosure in respect of issuance of security in Demat Form As per provision of the Depository Act, 1999 and regulations made there under, shares will only be issued in dematerialized condition. All transfer/transmission/splitting will take place in the Central Depository Bangladesh Ltd. (CDBL) system and any further issuance of shares (right/bonus) will be issued in dematerialized form only. Conditions under Section 2CC of the Securities and Exchange Ordinance, 1969 Part A 1. The company shall go for Initial Public Offer (IPO) for 20,00,000 ordinary shares of Taka 100 (taka one hundred) each at par worth Taka 20,00,00,000 (Taka twenty crore) only following the Securities and Exchange Commission (Public Issue) Rules, 2006, the Depository Act, 1999 and regulations made there under. 2. The abridged version of the prospectus, as approved by the Commission, shall be published by the issuer in four national daily newspapers (in two Bangla and two English), within 03 (three) working days of issuance of this letter. The issuer shall post the full prospectus vetted by the Securities and Exchange Commission in the issuer’s website and shall also put on the websites of the Commission, stock exchanges, and the issue managers within 03 (three) working days from the date of issuance of this letter which shall remain posted till the closure of the subscription list. The issuer shall submit to SEC, the stock exchanges and the issue managers a diskette containing the text of the vetted prospectus in â€Å"MS -Word† format. 3. Sufficient copies of prospectus shall be made available by the issuer so that any person requesting a copy may receive one. A notice shall be placed on the front of the application form distributed in connection with the offering, informing that interested persons are entitled to a prospectus, if they so desire, and that copies of prospectus may be obtained from the issuer and the issue managers. The subscription application shall indicate in bold type that no sale of securities shall be made, nor shall any money be taken from any person, in connection with such sale until twenty five days after the prospectus has been published. 4. The company shall submit 40 (forty) copies of the printed prospectus to the Securities and Exchange Commission for official record within 5 (Five) working days from the date of publication of the abridged version of the prospectus in the newspaper. 5. The issuer company and the issue managers shall ensure transmission of the prospectus, abridged version of the prospectus and relevant application forms for NRBs through e-mail, simultaneously with publication of the abridged version of the prospectus, to the Bangladesh Embassies and Missions abroad and shall also ensure sending of the printed copies of abridged version of the prospectus and application forms to the said Embassies and Missions within five working days of the publication date by express mail service (EMS) of the postal department. A compliance report shall be submitted in this respect to the SEC jointly by the issuer and the issue managers within two working days from the date of said dispatch of the prospectus & the forms. 6. The paper clipping of the published abridged version of the prospectus, as mentioned at condition 2 above, shall be submitted to the Commission within 24 hours of the publication thereof. 7. The company shall maintain separate bank account(s) for collecting proceeds of the Initial Public Offering and shall also open FC account(s) to deposit the application money of the Non-Resident Bangladeshis (NRBs) for IPO purpose, and shall incorporate full particulars of said FC account(s) in the prospectus. The company shall open the abovementioned accounts for IPO purpose; and close these accounts after refund of over-subscription. Non- Resident Bangladeshi (NRB) means Bangladeshi citizens staying abroad including all those who have dual citizenship (provided they have a valid Bangladeshi passport) or those, whose foreign passport bear a stamp from the concerned Bangladesh Embassy to the effect that no visa is required to travel to Bangladesh. 8. The issuer company shall apply to all the stock exchanges in Bangladesh for listing within 07(seven) working days from the date of issuance of this letter and shall simultaneously submit the vetted prospectus with all exhibits, as submitted to SEC, to the stock exchanges. 9. The following declaration shall be made by the company in the prospectus, namely: â€Å"Declaration about Listing of Shares with the Stock Exchange(s): None of the stock exchange(s), if for any reason, grants listing within 75 days from the closure of subscription, any allotment in terms of this prospectus shall be void and the company shall refund the subscription money within fifteen days from the date of refusal for listing by the stock exchanges, or from the date of expiry of the said 75 (seventy five) days, as the case may be. In case of non -refund of the subscription money within the aforesaid fifteen days, the company directors, in addition to the issuer company, shall be collectively and severally liable for refund of the subscription money, with interest at the rate of 2% (two percent) per month above the bank rate, to the subscribers concerned. -7- Issuer Issue Managers  ¦  ¦  ¦ Alliance Financial Services Limited BSRM Steels Limited South Asia Capital Limited The issue managers, in addition to the issuer company, shall ensure due compliance of the above mentioned conditions and shall submit compliance report thereon to the Commission within seven days of expiry of the aforesaid fifteen days time period allowed for refund of the subscription money. † 10. The subscription list shall be opened and the sale of securities commenced after 25 (twenty five) days of the publication of the abridged version of the prospectus and shall remain open for 5 (Five) consecutive banking days. 11. A non-resident Bangladeshi shall apply either directly by enclosing a foreign demand draft drawn on a bank payable at Dhaka, or through a nominee by paying out of foreign currency deposit account maintained in Bangladesh or in Taka, supported by foreign currency encashment certificate issued by the concerned bank, for the value of securities applied for through crossed bank cheque marking â€Å"Account Payee only†. The NRB applicants shall send applications to the issuer company within the closing date of the subscription so as to reach the same to the company by the closing date plus nine days. Applications received by the company after the above time period will not be considered for allotment purpose. 12. The company shall apply the spot buying rate (TT clean) in US Dollar, UK Pound Sterling and Euro of Sonali Bank, which shall be mentioned in the Prospectus, as prevailed on the date of opening of the subscription for the purpose of application of the NRBs and other non-Bangladeshi persons, where applicable. 13. The company and the issue managers shall ensure prompt collection/clearance of the foreign remittances of NRBs and other non-Bangladeshis, if applicable, for allotment of shares. 14. Upon completion of the period of subscription for securities the issuer and the issue managers shall jointly provide the Commission and the stock exchanges with the preliminary status of the subscription within 05 (five) working days, in respect of the following matters, namely: (a) Total number of securities for which subscription has been received; (b) Amount received from the subscription; and (c) Amount of commission paid to the banker to the issue. 15. The issuer and the issue managers shall jointly provide the Commission and the stock exchanges the list of valid and invalid applicants in 2 (two) CDs and final status of subscription to the Commission within 3 (three) weeks after the closure of the subscription along with bank statement (original), branch-wise subscription statement. The list of valid and invalid applicants shall be finalized after examination with the CDBL in respect of BO accounts and particulars thereof. 16. The IPO shall stand cancelled and the application money shall be refunded immediately (but not later than 5 (Five) weeks from the date of the subscription closure) if any of the following events occur: (a) Upon closing of the subscription list it is found that the total number of valid applications (in case of under subscription including the number of the underwriter) is less than the minimum requirement as specified in the listing regulations of the stock exchange(s) concerned; or (b) At least 50% of the IPO is not subscribed. 17. 10% of total public offering shall be reserved for non-resident Bangladeshi (NRB) and 10% for mutual funds and collective investment schemes registered with the Commission, and the remaining 80% shall be open for subscription by the general public. In case of under subscription under any of the 10% categories mentioned above, the unsubscribed portion shall be added to the general public category and, if after such addition, there is over subscription in the general public category, the issuer and the issue managers shall jointly conduct an open lottery of all the applicants added together. 18. All the applicants shall first be treated as applied for one minimum market lot of 50 shares worth Tk. 5000/-. If, on this basis, there is over subscription, then lottery shall be held amongst the applicants allocating one identification number for each application, irrespective of the application money. In case of over-subscription under any of the categories mentioned hereinabove, the issuer and the issue managers shall jointly conduct an open lottery of all the applications received under each category separately in presence of representatives from the issuer, the stock exchanges and the applicants, if there be any. 19. An applicant cannot submit more than two applications, one in his/her own name and another jointly with another person. In case an applicant makes more than two applications, all applications will be treated as invalid and will not be considered for allotment purpose. In addition, whole or part of application money may be forfeited by the Commission. -8- Issuer Issue Managers  ¦  ¦  ¦ Alliance Financial Services Limited BSRM Steels Limited South Asia Capital Limited 20. The primary shares allotted to an applicant through IPO may be forfeited by SEC, if the BO account of the said applicant is found closed at the time of allotment of shares. All IPO applicants are required to keep their BO accounts operational till allotment of IPO shares. 21. Lottery (if applicable) shall be held within 4 (four) weeks from closure of the subscription date. 22. The company shall issue share allotment letters to all successful applicants within 5 (five) weeks from the date of the subscription closing date. Within the same time, Refund to the unsuccessful applicants shall be made in the currency in which the value of securities was paid for by the applicants without any interest through Account Payee Cheque/ refund warrants with bank account number, bank’s name and Branch as indicated in the securities application forms payable at Dhaka/ Chittagong/ Khulna/ Rajshahi/ Barisal/ Sylhet/ Bogra, as the case may be subject to condition 19 above. Refund money of the unsuccessful applicants shall be credited directly to their respective bank accounts with in 5 (five) weeks from the date of the subscription closing, who have mentioned in the IPO application forms, bank account numbers with the bankers to the issue and other banks as disclosed in the prospectus. A compliance report in this regard shall be submitted to the Commission within 6(six) weeks from the date of closure of subscription. 23. The company shall furnish the List of Allotees to the Commission and the stock exchange(s) simultaneously in which the shares will be listed, within 24 (twenty four) hours of allotment. 24. In the event of under-subscription of the public offering, the unsubscribed portion of securities shall be taken up by the underwriter(s) (subject to para -16 above). The issuer must notify the underwriter to take up the underwritten shares within 10 (ten) days of the subscription closing date on full payment of the share money within 15(fifteen) days of the issuer’s notice. The underwriter shall not share any underwriting fee with the issue managers, other underwriters, issuer or the sponsor group. 25. All issued shares of the issuer at the time of according this consent shall be subject to a lock – in period of three years from the date of issuance of prospectus or commercial operation, whichever comes later: Provided that the persons, other than directors and those who hold 5% or more, who have subscribed to the shares of the company within immediately preceding two years of according consent, shall be subject to a lock -in period of one year from the date of issuance of prospectus or commercial operation, whichever comes later. 26. Either a Jumbo Share (one for each of the existing Sponsors/ Directors/ Shareholders) in respect of the shares already issued shall be issued covering together respective total holding, which shall contain the expiry date of lock-in period or Sponsors/Directors/Promoters/Shareholders’ shareholding shall be converted into demat form but shall be locked-in as per the condition at para-25 above. 27. In case of Jumbo Share Certificate issued to the existing Sponsors/ Directors/Shareholders, the said share certificates shall be kept under custody of a security custodian bank registered with SEC during the lock-in period. The name and branch of the bank shall be furnished to the Commission jointly by the issuer and the issue managers, along with a confirmation thereof from the custodian bank, within one week of listing of the shares with the stock exchange(s). 28. In case of dematerialization of shares held by the existing Sponsors/ Directors/Shareholders, the copy of dematerialization confirmation report generated by CDBL and attested by the managing director of the company along with lock-in confirmation shall be submitted to SEC within one week of listing of the shares with the stock exchange(s). 29. The company shall apply to the stock exchanges for listing within 7(seven) working days of issuance of this letter and shall simultaneously submit to the Commission attested copies of the application filed with the stock exchanges. 30. The company shall not declare any benefit other than cash dividend based on the financial statement for the period ended December 31, 2007. Part-B 1. The issue managers (i. e. , Alliance Financial Services Limited and South Asia Capital Limited) shall ensure that the abridged version of the prospectus and the full prospectus is published correctly and in strict conformity without any error/omission, as vetted by the Securities and Exchange Commission. 2. The issue managers shall carefully examine and compare the published abridged version of prospectus on the date of publication with the copy vetted by SEC. If any discrepancy/inconsistency is found, both the issuer and the issue managers shall jointly publish a corrigendum immediately in the same newspapers concerned, simultaneously endorsing copies thereof to SEC and the stock exchange(s) concerned, correcting the discrepancy/inconsistency as required under ‘Due Diligence Certificates’ provided with SEC. -9- Issuer Issue Managers  ¦  ¦  ¦ Alliance Financial Services Limited BSRM Steels Limited South Asia Capital Limited 3. Both the issuer company and the issue managers shall, immediately after publication of the prospectus and its abridged version, jointly inform the Commission in writing that the published prospectus and its abridged version are verbatim copies of the same as vetted by the Commission. 4. The fund collected through IPO shall not be utilized prior to listing with stock exchange and that utilization of the said fund shall be effected through banking channel, i. e. through account payee cheque, pay order or bank drafts etc. 5. The company shall furnish report to the Commission on utilization of IPO proceeds within 15 days of the closing of each quarter until such fund is fully utilized, as mentioned in the schedule contained in the prospectus, and in the event of any irregularity or inconsistency, the Commission may employ or engage any person, at issuer’s cost, to examine whether the issuer has utilized the proceeds for the purpose disclosed in the prospectus. 6. All transactions, excluding petty cash expenses, shall be effected through the company’s bank account(s). 7. Proceeds of the IPO shall not be used for any purpose other than those specified in the prospectus. Any deviation in this respect must have prior approval of the shareholders in the General Meeting under intimation to SEC and stock exchange(s). 8. The company shall remove the restrictive clauses regarding issuance & transfer of shares and grouping of shares from its Articles of Association. Part C 1. All the above conditions imposed under section 2CC of the Securities and Exchange Ordinance, 1969 shall be incorporated in the prospectus immediately after the page of the table of contents, with a reference in the table of contents, prior to its publication. 2. The Commission may impose further conditions/restrictions etc. from time to time as and when considered necessary, which shall also be binding upon the issuer company. Part D 1. As per provision of the Depository Act, 1999 and regulations made there under, shares will only be issued in dematerialized condition. All transfer/transmission/splitting will take place in the Central Depository Bangladesh Ltd. (CDBL) system and any further issuance of shares (including right/bonus) will be made in dematerialized form only. An applicant (including NRB) shall not be able to apply for allotment of shares without beneficial owner account (BO account). 2. The issue managers shall also ensure due compliance of all above. GENERAL INFORMATION Alliance Financial Services Limited (AFSL) and South Asia Capital Limited (SACL) have prepared the prospectus from information supplied by BSRM Steels Limited (the Issuer Company) and also after several discussions with the Chairman, Managing Director, Directors and concerned executives of the company. BSRM Steels Limited, Alliance Financial Services Limited and South Asia Capital Limited collectively and individually, having made all reasonable inquiries, confirm that to the best of their knowledge and belief, the information contained herein is true and correct in all material aspects and that there are no other material facts, the omission of which, would make any statement herein misleading. No person is authorized to give any information or to make any representation not contained in this Prospectus and if given or made, any such information and representation must not be relied upon as having been authorized by the company or Alliance Financial Services Limited and South Asia Capital Limited. The Issue as contemplated in this prospectus is made in Bangladesh and is subject to the exclusive jurisdiction of the Courts of Bangladesh. Forwarding this prospectus to any person resident outside Bangladesh in no way implies that the issue is made in accordance with the laws of that country or is subject to the jurisdiction of the laws of that country. A copy of this prospectus may be obtained from the Corporate Head Office of BSRM Steels Limited, Alliance Financial Services Limited, South Asia Capital Limited, the Underwriters and the Stock Exchanges where the securities will be traded. – 10 – Issuer Issue Managers  ¦  ¦  ¦ Alliance Financial Services Limited BSRM Steels Limited South Asia Capital Limited Declarations and Due Diligence Certificates Declaration about the Responsibility of the Directors, including the CEO of the Company â€Å"BSRM Steels Limited† in Respect of the Prospectus This prospectus has been prepared, seen and approved by us, and we, individually and collectively, accept full responsibility for the authenticity and accuracy of the statements made, information given in the prospectus, documents, financial statements, exhibits, annexes, papers submitted to the Commission in support thereof, and confirm, after making all reasonable inquiries that all conditions concerning this public issue and prospectus have been met and that there are no other information or documents the omission of which make any information or statements therein misleading for which the Commission may take any civil, criminal or administrative action against any or all of us as it may deem fit. We also confirm that full and fair disclosure has been made in this prospectus to enable the investors to make a well-informed decision f or investment. Sd/ Alihussain Akberali Chairman Sd/Zohair Taherali Director Sd/Aameir Alihussain Managing Director* Sd/Tehseen Zohair Taherali Director Sd/Sabeen Aameir Director Consent of the Directors to Serve We hereby agree that we have been serving as Directors of â€Å"BSRM Steels Limited† and confirm to continue to act as Directors of the Company. Sd/ Alihussain Akberali Chairman Sd/Zohair Taherali Director Sd/Aameir Alihussain Managing Director* Sd/Tehseen Zohair Taherali Director Sd/Sabeen Aameir Director * Mr. Aameir Alihussain is also a shareholder Director of the company. Declaration about filing of Prospectus with the Registrar of Joint Stock Companies & Firms A dated and signed copy of the Prospectus has been filed for registration with the Registrar of J

Essay Finding Meaning in The Turn of The Screw, by Henry...

At first glance, Bly appears to be a rather lonely place. The vividly bleak backdrop for The Turn of the Screw houses a handful of servants, two orphaned children, and ghosts who fade in and out of view. But there are others present who are less obtrusive yet just as influential as Peter Quint and Miss Jessel. Peering into and out of Blys windows and mirrors, engaging with the text and the lingering trace of author Henry James, a crowd of real and virtual readers hope to catch a glimpse of a specter or to unravel a clever Freudian slipknot that will tell them something: They may be looking for that which they think James intended as the texts truth - a transcendental center - or maybe they subconsciously wish to see a†¦show more content†¦Lustig asserts that Jamess story uses its blanks to undermine all attempts to establish relations and to join references into a coherent pattern (255). This coherent pattern is what the New Critics believe a texts essential org anizing principle to be, and that it is present in the text whether a reader notices it or not. For formalists, a texts essential effect lies in the text alone and is completely independent of a readers response to elements that create effect in him. Likewise, Lustigs precise analysis of form and subsequent deconstructionist reading of The Turn of the Screw does not mention what a possible readers process might be when faced with the twists of Bly. But for whom is the effect valuable, if not the reader? As Iser explains in The Reading Process, readers situate themselves within their responses, in effect awakening [the] responses within himself (51). He further argues that if a reader were given the whole story...his imagination would never enter the field, and yield nothing but boredom (51). To Iser, the life of the text depends on a readers participation in formulating his own response. More importantly, Iser touts the unwritten parts, (gaps and ambiguities) of a text to stimulate the imagination, a process that animates these outlines, and in turn...influence the effect of the written part... (50-51). Iser and other phenomenological reader-response critics depend utterly upon the readerShow MoreRelatedThe Lord Of The Screw And Northanger Abbey1635 Words   |  7 Pagesof the Innocent Heroine in Turn of the Screw and Northanger Abbey The function of the innocent heroine in gothic literature is, primarily, to follow her curiosity into the deepest, darkest corners of an appropriate gothic setting, uncover some awful secret contained therein, and do a lot of running around in her nightgown to be saved at the appropriate moment by a strong, capable suitor. 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