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While announcing its earnings for the first quarter ended June 2022, Pondy Oxides and Chemicals Ltd on Wednesday had informed that its board at the meeting held on August 10 recommended the issuance of bonus equity shares in the ratio of 1:1, which is subject to the approval of the shareholders, and the board has also fixed the record date for the same.

“We would like to inform you that the Board of Directors in their meeting held on 10th August 2022 has recommended for the issuance of Bonus Shares of the Company subject to the approval of Shareholders in the ratio of 1:1 i.e. 1 (One) new Bonus Equity Share of 10/- each to be issued for every 1 (One) existing Equity Shares of Rs. 101- each held by the Shareholders on the cut-off date i.e. 14th September 2022," the company informed in an exchange filing.

The company further informed that the record date is fixed as 14th September 2022 for the purpose of issuance of its proposed bonus shares. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

Pondy Oxides had informed on July 25, that “it is proposed to convene meeting of the Board of Directors of our company on Wednesday, 10th August 2022 at 03 :00 PM, inter-alia: To consider and approve the un-audited Financial results for the Quarter ended 30th June 2022; to recommend the proposal for declaration of Bonus Shares, if any, on the Equity Shares of the company."

Incorporated in 1995, Pondy Oxides and Chemicals Ltd (POCL) is a leading lead, lead alloys and plastic additives producer. The chemical stock has rallied over 68% in a year's period.

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