Organic Recycling Systems Ltd board recommends 1:2 bonus issue

The Board of Directors of Organic Recycling Systems Ltd at its meeting held on today, has approved and recommended Issuance of Bonus Shares by way of capitalization of eligible reserves, in ratio of 1:2 i.e. 1(One) new fully paid-up Equity Shares of Rs. 10/- (Rupees Ten only) each for every 2(Two) existing fully paid-up Equity Shares of Rs. 10/- (Rupees Ten only) each held by the eligible shareholders as on the Record Date, subject to shareholders approval and any other applicable regulatory and statutory approvals.

The record date will be announced separately by the Company.

The Bonus Allotment Committee is delegated with the powers to do all such acts, deeds matters and things as it may, in its absolute discretion, deems necessary, expedient or in connection to the Issue of Bonus Shares.

Shares of Organic Recycling Systems Limited was last trading in BSE at Rs. 247.40 as compared to the previous close of Rs. 231.30. The total number of shares traded during the day was 122400 in over 183 trades.

The stock hit an intraday high of Rs. 255.00 and intraday low of 231.05. The net turnover during the day was Rs. 29529510.00.

Source : Equity Bulls

Keywords

OrganicRecyclingSystems WasteManagement INE0MIO01019 BonusIssue 1For2