SBC Exports Limited approves allotment of 105820000 Bonus Equity Shares

The Board of Directors of SBC Exports Limited in its meeting held today, i.e 23rd January, 2024, has approved the allotment of 105820000 Bonus Equity Shares of Re. 1/- each in the ratio of 1:2 i.e (Bonus issue of 1 (one) Equity Share of Re. 1/- each for every 2(Two) Equity Shares of Re. 1/- each) held by the members as on the record date fixed by the Company i.e 19th January, 2024.

Consequently, the paid-up equity share capital of the Company stands increased to Rs. 31,74,60,000/- consisting of 317460000 equity shares of Re. 1/- each.

As part of the aforesaid allotment the bonus equity shares representing fractional entitlement(s) of eligible Members have been consolidated and allotted to Mr. Manish Gupta, Independent Director of the company as a trustee appointed by the Board. The trustee will sell such equity shares at the prevailing market rate as soon as possible and distribute the net sale proceeds, after adjusting the cost and expenses in respect thereof, among the eligible members in proportion to their respective fractional entitlements.

Source : Equity Bulls

Keywords

SBCExports SharesAllotment BonusShares