Suumaya Industries recommends bonus shares issue in 1:1 ratio
Premium- The stock was trading about 1% higher at ₹300 per share on the BSE in Monday's afternoon session
Suumaya Industries on Monday informed that the board of directors of the company at their meeting held today has recommended bonus shares issue in the ratio of 1:1. The record date for the purpose of Bonus Issue will be intimated in due course. The stock was trading about 1% higher at ₹300 per share on the BSE in Monday's afternoon session.
“the board of directors of the company at their meeting held today i.e. Monday, February 21, 2022 at 10.30 am has inter-alia recommended Bonus Issue of Equity Shares in the ratio of 1 (One) Equity Share of Rs. 10/- each for every 1 (One) Equity Share of Rs. 10/- each (i.e. 1:1, {100%}) held by the shareholders of the Company as on record date, subject to the approval of Shareholders and other regulatory authorities, if any," the company said in an exchange filing today.
The company last month had informed that the company's board will consider the proposal of bonus issue of equity shares on February 21, 2022 nd a proposal for alteration in the capital clause (Increasing the authorized share capital) of the Memorandum of Association of the company.
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The board has further considered and recommended increase in Authorised share capital of the company from ₹54 crores to ₹75 crores and consequent amendment to clause V of the Memorandum of Association of the Company, subject to approval of Shareholders, Suumaya Industries added.
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