NINtec Systems Ltd board recommends 4:5 bonus issue

The Board of Directors ('Board') in their meeting held today, i.e. Monday, 19th June, 2023 at 03.30 P.M., at the registered office of the Company, has recommended the issue of bonus equity shares in the ratio of 4:5 [i.e., 4 (Four) bonus equity shares of Rs. 10/- each for every 5 (Five) fully paid-up equity shares held as on record date]. The record date for the purpose of ascertaining the eligibility of the shareholders to receive bonus shares will be announced later.

The board also approved increase in the Authorized Share Capital of the Company from existing Rs. 15,00,00,000 (Rupees Fifteen Crore) divided into 1,50,00,000 (One Crore Fifty Lakh) Equity Shares of Rs. 10/- each to Rs. 20,00,00,000 (Rupees Twenty Crore) divided into 2,00,00,000 (Two Crore) Equity Shares of Rs. 10/- each ranking pari passu in all respect with the existing Equity Shares of the Company and consequential amendment in Memorandum of Association of the Company.

The above proposals are subject to the approval of shareholders of the Company by Postal Ballot.

The pre bonus issue paid-up equity capital as on date is Rs. 10,32,00,000/- consisting of 1,03,20,000 equity shares of Rs. 10/- each. The post-bonus paid up equity share capital shall be Rs. 18,57,60,000/- consisting of 1,85,76,000 equity shares of Rs. 10/- each.

Source : Equity Bulls

Keywords

NINtecSystems BonusIssue 4For5