Lorenzini Apparels Announces 6:11 Bonus Shares, 10:1 Stock Split | View the details here

The company has yet to announce the record date for determining shareholders' eligibility for stock splits and bonuses.

Share market news: Lorenzini Apparels Limited has announced that its board of directors has announced the distribution of bonus shares and the share split. The company, which is into manufacturing and designing of ready-made garments, said its board has approved proposals to distribute bonus shares in the ratio of 6:11, i.e. six new fully paid shares of Re 1 each will be issued. for every 11 fully paid shares of Re 1 held by the security holders.

“Proposal to issue bonus shares to the holders of securities of the company in the ratio of 6:11 i.e. 6 (six) new fully paid shares of Re. 1/- (One Rupee Only) each for every 11 (eleven) fully paid up equity shares of Re. 1/- (One Rupee Only) held by the eligible security holders of the Company as on the date of record, subject to the approval of the shareholders obtainable through the postal ballot process. In this regard, the record date for such bonus issue will be communicated to the exchanges in due course,” the filing said.

The board has approved the subdivision of the nominal value in the ratio 10:1.

“Breakdown of face value of shares of the company from Rs. 10/- (ten rupees only) each for Re. 1/- (One Rupee) per piece, subject to the approval of the shareholders, obtainable through the postal ballot process,” the stock exchange filing said.

The company has yet to announce the record date for determining shareholders' eligibility for stock splits and bonuses. Lorenzini Apparels said the record date will be announced soon and the stock exchanges will be informed in due course.