Brightcom Group recommends issuing bonuses in a ratio of 2:3; The action reaches 5% of the upper circuit
Shares of Brightcom Group hit the upper circuit on Thursday after strong third-quarter results and also a bonus issue recommendation.
In a regulatory filing, the Board of Directors reviewed, approved and recommended the issuance of (2:3) two free shares for every three shares held by the shareholders of the company on a record date to be determined by the Board of this one. for. The free issue of capital shares is subject to the approval of the shareholders by postal vote and to any other applicable legal and regulatory approval, as the case may be.
In addition, Free Shares once granted will rank pari passu in all respects and have the same rights as existing Equity Shares and will be entitled to participate in full in any dividend and other corporate action, recommended and declared, if any. , after the issuance and allocation of these Free Shares, said Company.
Bonus capital shares will be issued from free reserves, retained earnings and the issue premium account, available on September 30, 2021.
The paid up share capital before the bonus issue as of 25th January 2022 is Rs. 236,33,66,248/- divided into 118,16,83,124 shares of Rs 2/- each while the paid up share capital after the issue of bonus would be – Rs.405,64,77,080/- divided into 202.82, 38,540 equity shares of Rs 2/- each.
The bonus shares will be credited/sent within 2 months of the date of Board approval, i.e. before March 24, 2022.
At around 9.40am on Thursday, Brightcom Group was trading at Rs171.90 each, up Rs8.15 or 4.98% on Sensex.