Lancer Container Lines Ltd Board recommends 2:1 Bonus Issue of equity shares

The board of directors of Lancer Container Lines Ltd has considered, approved and recommended a Bonus Issue of 2 Equity Shares of Rs. 10/- each fully paid up for every 1 Equity Share of Rs. 10/- each fully paid up held as on the Record date decided for this purpose. The Bonus Shares once allotted shall rank pari-passu in all respects and carry the same rights as the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the issue and allotment of such Bonus Shares.

The Pre Bonus Issue Paid-Up Equity Share Capital as on date is Rs. 10,04,70,400/- divided into 1,00,47,040 Equity Shares of Rs. 10/- each.

The Post Bonus Issue Paid-Up Equity Share Capital will be Rs. 30,14,11,200/- divided into 3,01,41,120 Equity Shares of Rs. 10/- each.

As on March 31, 2021, aggregate amount of free reserves account is Rs. 33,61,09,204/- on standalone basis and Rs. 34,54,33,661/- on consolidated basis.

Subject to obtaining shareholders' approval and other approvals, the Bonus shares will be credited/dispatched within 2 months from the date of Board approval i.e. on or before October 29, 2021.

Shares of Lancer Container Lines Limited was last trading in BSE at Rs. 279 as compared to the previous close of Rs. 277.2. The total number of shares traded during the day was 42153 in over 942 trades.

The stock hit an intraday high of Rs. 290 and intraday low of 275.2. The net turnover during the day was Rs. 12000210.

Source : Equity Bulls

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