A-1 Ltd, a leading chemical trading and logistics company, has fixed December 31 as the record date to determine eligibility of the shareholders for the 3:1 bonus issue and 10:1 stock split. Earlier the board of directors in the meeting held on November 14 approved both proposals. The move aims to enhance liquidity and reward the shareholders.
The Board of Directors approved the issue of bonus equity shares in the ratio of three bonus equity shares of ₹10 each for every 1 equity share held by the shareholders of the company as of the record date, Dec 31. The company also approved the subdivision of 1 equity share of face value of ₹10 each fully paid-up into 10 equity shares of face value of ₹1 each fully paid-up held by the shareholders of the company, it said.
Shares of the company were up 5 per cent at ₹2,055 on Tuesday.