This company will issue free shares in a ratio of 1:10
Free shares are similar to dividends distributed in the form of shares to the shareholder of the company in a certain proportion. These shares are issued from the free reserves and surpluses of the company. Similarly, here is a small cap company – Johnson Pharmacare which will issue free shares at a ratio of 1:10.
Record date for the 1:10 free share issue:
The company, in an exchange document dated March 24, 2022, advised that the company had set Friday, April 8, 2022 as the “record date”, for the purpose of verifying the eligibility of shareholders entitled to the issue of free equity shares of the company in the proportion of 1 (one) equity share at Rs. 1/- each for every 10 (ten) existing equity share of Rs. 1 each,
About the company:
Johnson Pharmacare is engaged in the wholesale and retail business of all kinds of pharmaceutical products. It is also engaged in the business of chemists, pharmacists, buyers, sellers, agents, distributors and stockiest of all kinds of pharmaceuticals and related products.
In the December quarter of FY22, the company recorded a net loss of 0.03 crore compared to a net profit of 0.27 crore in the previous quarter. This loss figure decreased on a yearly basis with net loss at Rs. 0.05 crore in the corresponding period a year ago. The certificate is a penny stock which last trades at Rs. 1.17 per share on BSE.
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Article first published: Friday, March 25, 2022, 10:27 p.m. [IST]