Caplin Point Laboratories Limited has made a significant announcement regarding its wholly owned subsidiary, Caplin Point Far East Limited (CPFEL), based in Hong Kong. On September 19, 2024, CPFEL completed a bonus issue of 8,57,09,957 fully paid-up equity shares, resulting in the capitalization of USD 1,09,88,456.
Date: September 19, 2024
Scrip Code: 524742 (BSE) | CAPLIPOINT (NSE)
Key Highlights:
Bonus Issue Details: The bonus shares were allocated through a written resolution by the Board of CPFEL. This strategic move is aimed at enhancing shareholder value and reflects the company’s robust financial health.
Capitalization of Reserves: The bonus shares are issued by capitalizing free reserves/retained earnings. The bonus ratio has been set at 973 shares for each existing share held, demonstrating a significant return for current shareholders.
Share Capital Changes: Following the bonus issue, the share capital of CPFEL will increase from USD 11,544 to USD 1,10,00,000. This change underscores the company's commitment to leveraging its retained earnings for growth.
Financial Stability: Based on audited accounts as of March 31, 2024, CPFEL had retained earnings of USD 7,31,77,946 available for capitalization, further solidifying its financial standing.
Timeline for Share Distribution: The newly issued bonus shares are expected to be credited or dispatched by September 25, 2024, ensuring that shareholders benefit from this initiative promptly.
This strategic decision not only enhances the capital structure of Caplin Point Far East Limited but also aims to reward shareholders for their continued support. The announcement has been communicated to the stock exchanges and will be made available on the company’s website for stakeholder transparency.
For more details, stakeholders can refer to the official communications on Caplin Point Laboratories' corporate site.
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