Choice International Limited is a small company engaged in various financial services with a market cap of 2,141.50 crore The board of the company has recommended issuance of bonus shares in the ratio of 1:1.
The company in a regulatory filing stated that “The Board has recommended issuance of bonus shares in the ratio of L:1, i.e. one equity share for every fully paid-up equity share as on the record date fixed for the purpose. Bonus issue As a result, the total paid-up share capital is Rs.99,51,20,000/- (Rupees Ninety One Crore Fifty One Lakh Twenty One Thousand only) from the existing Rs.49,75,60,000/- (Rupees Twenty Nine Crore Seventy Five Lakh Sixty Thousand only). The Bonus issue of the Company is subject to the approval of the Shareholders at the 291st Annual General Meeting (“AGM”) and any other applicable statutory and regulatory approvals, as may be required. will inform the record date for the same in due course.”
The company has also informed the stock exchanges that “consequent to the approval of the Bonus Issue and ESOP Scheme, the Board has given shareholders an increase in the authorized share capital of the Company from Rs.50.10 crores to Rs.108 crores at the 29th Annual General Meeting of the Company.”
Bonus Share Details of Choice International Limited as per the data available on the stock exchanges
The type of securities proposed to be issued (i.e. equity shares, convertibles etc.); Equity shares of face value of Rs. 10/- each.
The total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately): Rupee. 49,75,60,000 divided into 4,97,56,000 equity shares of Rs. 10/- each
Whether the bonus is out of the free reserve created out of profit or from the share premium account: The bonus shares will be issued from the permitted reserves of the company i.e. Securities Premium Account available till March 31, 2022.
bonus ratio; 1:1, i.e. an equity share of Rs. 10/- each for a fully paid-up equity share of Rs. 10/- on each record date held.
Details of share capital – before and after bonus issue; free reserves and/or share premiums required to effect the bonus issue; Pre-Bonus Issue Paid Up Share Capital: Rs. 49,75,60,000/- divided into 4,97,56,000 equity shares of Rs. 10/- each. Post-Bonus Issue Paid-up Share Capital: Rs. 99,52,10,000/- divided into 9,95,21,000 equity shares of Rs. 10/- each.
free reserves and/or share premiums required to effect the bonus issue; Rupee. 49,75,60,000/-
the estimated date by which such bonus shares will be credited/remitted; Within two months from the date of approval of the Board i.e. on or before 3rd October 2022.
Shares of Choice International Ltd closed today 432.50 each, down 0.18% from the previous close. The stock is up 43.57% so far in 2022 on a YTD basis.
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