The company is conducting its SGM on 24th September. The SGM will endorse a proposal of distributing 12.50 percent stock and 0.658 percent cash dividend for tax purpose to its shareholders.
The company will distribute Rs 223.1 million as bonus share and Rs 11.7 million as cash dividend for tax purpose.
Given that the endorsement of the proposed dividend from AGM of the company may take long time due to unmet minimum paid-up capital required as per IB directive, the company is endorsing the dividend proposal from SGM.
After the dividend distribution, the paid-up capital of the company will reach the minimum requirement of IB.