This stock multibagger’s board recommends free shares at a ratio of 3:2, details inside

The board of directors of SecMark Consultancy Ltd has approved the issue of free shares in a ratio of 3:2, subject to shareholder approval. Free shares are additional fully paid shares issued by a company to its existing shareholders. Free shares are additional fully paid shares issued by a company to its existing shareholders.

“We inform you that the Board of Directors, meeting today, i.e. August 23, 2022, notably examined and stopped the issue of free shares at the rate of 3 (three) fully paid-up shares for 2 (two) existing shares. fully paid up shares held by shareholders, subject to approval by the company’s shareholders,” the company had announced in an exchange filing earlier this week.

In addition, the board also approved the migration of the listing/trading of the company’s current listing from the SME platform of BSE Limited to the main board of BSE Limited as well as the listing/trading on the main board of National Stock Exchange of India Limited subject to the approval of the shareholders of the Company, BSE Limited, National Stock Exchange Limited or any other authority.

In the meantime, the Board has also reviewed and approved the amendment of the Company’s Memorandum of Association due to changes in the authorized share capital of the Company, subject to the approval of the members of the Company.

Based in Mumbai, India, SecMark Consultancy offers advisory, technology and outsourcing services to financial market participants and has specialists in compliance, operations, risk management, software development, IT infrastructure management, system audits and cybersecurity. The company counts among its customers more than 200 leading players in the financial markets.

SecMark Consultancy shares have yielded a multibagger return of more than 101% over a one-year period, while the multibagger stock has jumped almost 66% in 2022 (YTD) so far, against a decline of around 0.6% of the BSE Sensex benchmark.

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Sallie R. Loera