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Choice International Ltd is a small company that is engaged in various financial services with a market cap of 2,141.50 Cr. The Board of the company has recommended a bonus share issue in the ratio of 1:1.

The company has said in a regulatory filing that “The Board has recommended the Issue of Bonus Shares in the ratio of l: 1 i.e. one equity share for each fully paid up equity share held as on record date fixed for the purpose. Consequent to the bonus issue, the total paid up share capital will be Rs. 99,51,20,000/-(Rupees Ninety Nine Crores Fifty One Lakhs Twenty Thousand only) from the existing Rs.49,75,60,000/-.( Rupees Forty Nine Crores Seventy Five Lakhs Sixty Thousand Only ). The bonus issue of equity shares is subject to the approval of the Shareholders at the 291h Annual General Meeting ("AGM") and any other applicable statutory and regulatory approvals, as may be required. The Company will inform in due course the Record date for determining entitlement of the shareholders to receive Bonus Shares."

The company has also informed stock exchanges that “Consequent to the approval of Bonus Issue & ESOP Scheme, the Board has approved and recommended to the Shareholders for their approval of increase in Authorised Share Capital of the Company from Rs. 50.10 Crores toRs. 108 Crores at the 29th Annual General Meeting of the Company."

Bonus share details of Choice International Ltd as per the data available on stock exchanges

Type of securities proposed to be issued (viz. equity shares, convertibles etc.); Equity Shares of face value of Rs. 10/- each.

Total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately): Rs. 49,75,60,000 divided into 4,97,56,000 Equity Shares of Rs. 10/- each

Whether bonus is out of free reserves created out of profits or share premium account: The Bonus Shares will be issued out of the permissible reserves i.e. Securities Premium Account of the Company available as at 31st March, 2022.

Bonus ratio; 1: 1, i.e. One Equity Share of Rs. 10/- each for every One fully paid-up Equity Share ofRs. 10/- each held as on the Record Date.

Details of share capital - pre and post bonus issue; Free reserves and/ or share premium required for implementing the bonus issue; Pre-Bonus Issue paid up share capital: Rs. 49,75,60,000/- divided into 4,97,56,000 Equity Shares of Rs. 10/- each. Post-Bonus Issue paid up share capital: Rs. 99,52,10,000/- divided into 9,95,21,000 Equity Shares ofRs. 10/- each.

Free reserves and/ or share premium required for implementing the bonus issue; Rs. 49,75,60,000/-

Estimated date by which such bonus shares would be credited/dispatched; Within two months from the date of Board Approval i.e. on or before October 3, 2022.

The shares of Choice International Ltd closed today at 432.50 apiece, down by 0.18% from the previous close. On a YTD basis the stock has gained 43.57% so far in 2022.

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