January 2, 2024
New Delhi, India
Article:
Allcargo Logistics, a leading logistics company, has made a significant announcement regarding bonus share issuance. Here’s a breakdown of the key details:
Bonus Shares Declaration
In a recent board meeting held on November 10, 2023, Allcargo Logistics declared the issuance of bonus shares in a 3:1 ratio. This decision was made by capitalizing a sum not exceeding ₹147,41,73,144 from the company’s Free Reserves.
Record Date Fixed
To facilitate the process, the board fixed January 2, 2024, as the record date. On this date, the list of eligible shareholders for the bonus shares will be finalized. The bonus shares will be allocated in the proportion of 3 new equity shares for every 1 existing equity share held by the shareholders on the record date.
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Regulatory Compliance
Allcargo Logistics has ensured compliance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed the Indian stock market exchanges about the bonus shares issuance.
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Historical Context
This marks the second time Allcargo Logistics shares are trading ex-bonus. The previous instance occurred on December 30, 2015, when bonus shares were issued in a 1:1 ratio.
Trading Impact
The stock is currently trading ex-bonus, signifying that shares are traded without the value of the bonus. Investors buying shares on or after this date won’t be eligible for the bonus shares.
Shareholder Approval
The allotment of bonus shares is contingent on shareholder approval. This approval will be sought through a postal ballot via the e-voting process.
In conclusion, Allcargo Logistics is taking significant steps to reward its shareholders with a 3:1 bonus shares issuance. With the record date set for January 2, 2024, shareholders are advised to stay tuned for further updates.
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Disclaimer:
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