“From the above announcement to stock exchange, found the below statement:
In terms of the Scheme, the Company will issue and allot by way of bonus, 1 (one) fully paid-up
NCRPS of the face value of INR 10 each at the premium of INR 90 each, for every 10 (ten) fully
paid-up equity share of face value of INR 2 each, to the non-promoter shareholders of the
Company whose names appear in the Register of Members of the Company as on the Record
Date.”
from one of the press release of this Company: https://www.radiocity.in/images/uploads/pdf/PressRelease.pdf
found the below statement:
“the board has approved a bonus issue of non-convertible non-cumulative redeemable preference shares (NCRPS) of Rs.100/- each in the ratio of 1:10 i.e. {1 (One) bonus NCRPS for every 10 (Ten) equity share held} by non-promoter shareholders. These are redeemable on expiry of 36 months at a premium of Rs.20/- and are proposed to be listed.”
=> face value of these NCRPS = 10.00
and they will be redeemed at a premium of 20, which amounts to (10 + 20) = 30 per preference share 36 months later.
A shareholder holding 10 shares will receive 1 NCRPS which entitles the shareholder to receive Rs. 30 after 36 months.
so, the benefit for minority shareholders in my opinion is 30/10 = 3 per share 3 years later.
It is not 12 rupees per share as mentioned in earlier posts in the thread in my view.
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