By Malvika Gurung
Investing.com -- The solutions provider having expertise in debt collection, Focus Business Solution (BO:FOCB) will remain under focus this week as its shares will turn ex-bonus in the ratio of 4:5 on Thursday.
The company’s Board of Directors recommended the allotment of four fully paid bonus equity shares of Rs 10 each for every five existing fully paid-up shares of Rs 10 each to its shareholders as of the record date, at no additional cost.
The Board of the micro-cap company has fixed the record date for determining the shareholders’ eligibility for the aforementioned 4:5 bonus share issue as Thursday, August 23, 2023.
The Bonus issue will be issued out of the Free Reserves or any other securities premium account of the company available as on March 31, 2023.
As on March 31, 2023, Focus Business Solution’s Free Reserves premium and Securities Premium stood at Rs 178.91 lakh.
The bonus shares will be credited or dispatched to those eligible within two months from the date of approval of the Board for the bonus issue subject to the shareholder’s approval, which means by September 5, 2023.
The total number of securities proposed to be issued for the bonus share issue will be worth Rs 1,77,76,000, the Rs 22-crore market cap company said last month.
Shares of Focus Business Solution have skyrocketed 168.4% so far in the calendar year 2023.