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Procedure for Issue of Bonus Shares
under Companies Act, 2013
SEBI REGULATIONS
Restriction on bonus issue
Bonus shares only against reserves, etc. if capitalized in cash
Completion of bonus issue
Annexure 1
Assumption Bonus Shares are issued of Rs. 70 Crore; and bonus share so issued is of Rs. 5 /-each
It “RESOLVED FURTHER THAT the Bonus Shares so allotted shall rank pari passu in all respects with the fully paid-up Equity Shares of the Company as existing on the Record Date, save and except that they shall not be entitled to any dividend that may be declared before the ‘Record Date.”
“RESOLVED FURTHER THAT” the Bonus Shares so allotted shall always be subject to the terms and conditions contained in the Memorandum and Articles of Association of the Company.” “RESOLVED FURTHER THAT the issue and allotment of the Bonus Shares to Non-Resident Members, Foreign Institutional Investors (FlIs) & other foreign investors, be subject to the approval of the Reserve Bank of India, as may be necessary. ”
“RESOLVED FURTHER THAT the Board be and is hereby authorized to take necessary steps for listing of such shares on the Stock Exchanges where the securities of the Company are listed as per the provisions of the Listing Agreements with the concerned Stock Exchanges and other applicable guidelines, rules and regulations. ”
Explanatory Statement
The Bonus Shares so allotted shall rank pari passu in all respects with the fully paid-up Equity Shares of the Company as existing on the Record Date, save and except that they shall not participate in any dividend that may be declared before the ‘Record Date’. The final dividend of Rs.18.50 per share on pre-bonus share capital recommended by the Board of Directors on June 25, 2013 will work out to Rs.12.33 per share post issue of bonus shares.
3 comments
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