Shankar Lal Rampal Dye-Chem Ltd board recommends 1:3 bonus issue

The Board of Directors (Hereinafter referred to as "Board") of Shankar Lal Rampal Dye-Chem Ltd at its meeting dated 21st September, 2020 has, approved the recommendation for Increase in Authorized Share Capital from Rs. 9,00,00,000 (Rupees Nine Crore Only) to Rs. 12,00,00,000 (Rupees Twelve Crore Only) and consequent amendment in the Capital Clause of the Memorandum of Association of the Company.

The board approved recommendation for issuance of Bonus Shares of the Company in the ratio of 1:3 i.e., 1 (One) new Equity share of Rs. 10/- each fully paid for every 3 (Three) existing equity share of Rs. 10/- each fully paid up of the Company held by the shareholders as on record date.

The above decision of the Board of Directors are subject to the approval of shareholders at the Extra Ordinary General Meeting to be held on 19.10.2020.

Source : Equity Bulls

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