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Information technology major, Infosys on Friday announced a bonus issue in the ratio of 1: 1. The show was announced to mark the 25th anniversary of the company since its listing as well as to increase the liquidity of the shares.
The decision was made with the announcement of the June quarter results.
"The Board of Directors has reviewed, approved and recommended a free share issue for each share held and a dividend in shares of an American Depository Share (ADS) for each ADS held , on a date of registration to be determined, "he indicated in a notification to the stock exchanges. [19659002] The shares awarded once awarded will be of equal rank in all respects and will bear the same rights as the shares of
They will have the right to participate fully in the dividends and other securities transactions, recommended and declared after shares are awarded, the company has also declared in the deposit.The bonus participation shares will be issued from undistributed profits, available as of June 30, 2018.
Ratio
The company explained that one (1) share action of Rs 5 / – each released for r each share of Rs 5 / – each fully paid up at the record date to be determined.
Details
June 30, 2018- 10,920,635,455 divided into 2,184,127,091 shares of Rs 5 / –
The issued share capital after the premium would be – 21,841,270,910 divided in 4,368,254,182 shares of Rs 5 / – each.
Deadline
The free shares will be credited / shipped within two months of the date of approval by the Board, ie, September 12, 2018.
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