CL Educate Ltd Board recommends 1:1 Bonus Issue

The board of directors of CL Educate Ltd has approved and recommended a Bonus Issue of Equity Shares in the Ratio of 1:1 i.e. 1 (One) Equity Share of Rs. 5/- (Rupees Five only) each be issued for every 1 (One) existing Equity Share of Rs. 5/- (Rupees Five only) each held by the Shareholders of the Company, as on the Record Date, subject to the approval of Shareholders in compliance with the applicable laws.

The board also approved an increase in the Authorised Share Capital of the Company from Rs. 27,28,00,000 comprising of 5,45,60,000 Equity Shares of Rs. 5/- each to Rs. 40,00,00,000 comprising of 8,00,00,000 Equity Shares of Rs. 5/- each, and consequent Alteration to the Capital Clause of the Memorandum of Association of the Company, subject to the approval of Shareholders in compliance with the applicable laws.

Source : Equity Bulls

Keywords

CLEducate BonusIssue 1For1