3:1 bonus shares: Allcargo Logistics stock in focus as share trades ex-bonus today. Details here

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Allcargo Logistics bonus shares

Informing Indian stock market exchanges about bonus shares, Allcargo Logistics said, “With reference to our letters dated November 03, 2023 and November 7, 2023 and in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”), we wish to inform you that the Board of Directors of the Company at its Meeting held today i.e., November 10, 2023, inter alia considered and approved the issue of bonus shares by capitalizing a sum not exceeding ₹147,41,73,144/- (Rupees One Hundred Forty Seven Crores Forty One Lakhs Seventy Three Thousand One Hundred Forty Four only) out of the sum standing to the credit of Free Reserves of the Company, as per the audited financial statements of the Company for the financial year ended March 31, 2023 and that the said amount be transferred to the Share Capital Account and be applied for issue and allotment of equity shares not exceeding 73,70,86,572 (Seventy Three Crores Seventy Lakhs Eighty Six Thousand Five Hundred Seventy Two) equity shares of ₹2/-(Two) each as fully paid up bonus shares, to the eligible members of the Company holding equity shares of ₹2/- (Two) each, whose names appear in the Register of Members/Beneficial Owners’ position of the Company on such date (“Record Date”) fixed by the Company, in the proportion of 3:1 i.e. 3 (Three) new equity shares of ₹2/- (Two) each for every 1 (One) existing equity share of ₹2/- (Two) each held as on the Record Date and that the new bonus shares so issued and allotted shall be treated for all purposes as an increase in the nominal amount of the equity share capital of the Company held by each of such member(s).”

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Allcargo Logistics bonus share record date

Later on the logistics company informed about the record date for issuance of bonus shares to eligible shareholders citing, “In furtherance of the outcome of Board Meeting held on November 10, 2023 and in accordance with Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”), we wish to inform you that the Board of Directors of the Company has fixed Tuesday, January 2, 2024 as the Record Date for the purpose of ascertaining the eligibility of shareholders for allotment of bonus shares in the proportion of 3:1 i.e. 3 (Three) new equity shares of ₹2/- (Rupees Two) each for every 1(One) existing equity share of ₹2/- (Rupees Two) each held by the shareholders of the Company, subject to the approval of shareholders by way of postal ballot through e-voting process.”

Allcargo Logistics bonus share history

This is the second time, when Allcargo Logistics shares are trading ex-bonus. Earlier, the logistics stock had traded ex-bonus on 30th December 2015 for issuance of bonus shares in 1:1 ratio

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Published: 02 Jan 2024, 09:38 AM IST