Sunrise Efficient Marketing Limited board recommends 1:1 bonus issue

The Board of Directors of Sunrise Efficient Marketing Limited in its meeting held on 03rd day of July, 2023 has considered and approved the increase in the Authorized Share Capital of the Company from Rs. 5,00,00,000/- (Rupees Five Crore only), divided into 50,00,000 (Fifty Lakh) Equity Shares of Rs. 10/- (Rupees Ten) each to Rs. 10,00,00,000/- (Rupees Ten Crore only), divided into 1,00,00,000 (One Crore) Equity Shares of Rs. 10/- (Rupees ten) 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, subject to the approval of shareholders of the Company.

The Board has recommended the issue of bonus equity shares in the ratio of 1:1 [ i.e., 1 (One) bonus equity shares of Rs. 10/- each for every 1 (One) fully paid-up equity shares held as on record date] subject to the approval of the shareholders in forthcoming Annual General Meeting of the Company.

The Company will announce in due course, the "Record Date" for determining shareholders entitled to receive Bonus Shares and date of AGM.

The Bonus Shares once allotted shall rank pari-passu in all respects and carry the same rights of the existing Equity Shares and shall be entitled to participate in full in any dividend and either corporate action(s), recommended and declared after the issue and allotment of such Bonus Shares.

Shares of Sunrise Efficient Marketing Limited was last trading in BSE at Rs. 255.45 as compared to the previous close of Rs. 241.20. The total number of shares traded during the day was 45500 in over 91 trades.

The stock hit an intraday high of Rs. 270.95 and intraday low of 248.50. The net turnover during the day was Rs. 11682950.00.

Source : Equity Bulls

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