The Board of Directors of Shivalik Bimetal Controls Limited at their meeting held on August 29, 2022, has considered, approved and recommended the Bonus Issue of Equity Shares in the proportion of 1 (One) Equity Share of Rs. 2/- each for every 2 (Two) Equity Shares of Rs. 2/- each held by the shareholders of the Company as on the record date, subject to the approval of shareholders.