The Board of Directors of Swelect Energy Systems Ltd at their meeting held today (8th July 2019), considered and recommended to issue Bonus Shares in the ratio of 1 (One) Equity Share for every 2 (Two) Equity Shares held by the Shareholders of the Company as on the record date to be determined by the Board.
The issue of Bonus Shares is subject to approval of the shareholders of the Company in the ensuing Annual General Meeting (24th AGM) to be held on 9.8.2019 and any other applicable statutory and regulatory approvals.
The Bonus shares once allotted shall rank pari passu in all respects and carry the same rights as the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new equity shares are allotted.
Shares of Swelect Energy Systems Limited was last trading in BSE at Rs.251.8 as compared to the previous close of Rs. 274.7. The total number of shares traded during the day was 4393 in over 392 trades.
The stock hit an intraday high of Rs. 282 and intraday low of 247.3. The net turnover during the day was Rs. 1148728.