Stock Split: Motisons Jewellers' board to consider sub-division - Check details
In addition to the share split, the Board will also consider amending the capital clause in the company's Memorandum of Association to reflect this change.
Motisons Jewellers has informed exchanges that its board will meet on September 19, 2024 (Thursday) to discuss the proposal for a sub-division/split of equity shares.
The stock currently has a face value of Rs 10 apiece.
"...we hereby inform you that the meeting of the Board of Directors of Motisons Jewellers Limited (“the Company”) is scheduled to be held on Thursday, September 19, 2024, inter-alia to transact the following businesses. the proposal for sub-division/split of Equity Shares of the Company presently having a face value of Rs. 10/- each in such manner as the Board may determine", the company said in regulatory filings.
In addition to the share split, the Board will also consider amending the capital clause in the company's Memorandum of Association to reflect this change.
Earlier, the company's board approved Rs 170 crore fundraising via preferential issue at an issue price of Rs 170 and an increase in authorised share capital.
The fundraising deal is payable in cash for an aggregating amount of up to Rs 170 crore.
The Board of Directors has also considered and approved increasing the authorised share capital.
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