The shareholders in the annual general meeting held recently approved the issue of Bonus Shares in the ratio of 1:1 as recommended and approved by the board
The Board of Directors of ZIM Laboratories in its meeting held recently have approved issue of Bonus Shares in the ratio of 1:1 i.e. one equity share for one existing share subject to approval by the shareholders.
The Board of Directors also decided October 6, 2018 as the record date for issue of Bonus Shares, the shareholders who are holding shares as on the record date would be eligible for the Bonus Shares.
After the approval of shareholders, the company applied to BSE Limited (Stock Exchange where the shares of the company are listed) for In-principle approval for issue of Bonus Shares in the ratio of 1:1 and the company received In-principle approval from BSE on September 25, 2018.
As the company has received the requisite approvals from the shareholders and Stock Exchange, the company would allot Bonus Shares in the ratio of 1:1 to the shareholders holding shares as on the record date.
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