Remedium Lifecare board to consider issuance of bonus shares after 1:5 stock split

livemint.com:

Bonus shares 2024: After trading ex-split on February 23 2024, in a 1:5 ratio, the board of directors of Remedium Lifecare Ltd will discuss and approve the issuance of bonus shares this month. The small-cap company has informed the Indian stock market's exchanges about the development. The company said that the board will discuss the bonus shares proposal in its upcoming board meeting on May 10, 2024.

The board meeting will also consider and approve the company's financial results for Q4FY24. If the company board authorizes the issuance of bonus shares, this will be the second bonus share declaration by this company in less than a year. The small-cap stock had traded ex-bonus in September 2023.

Informing the Indian stock market exchanges about the bonus share proposal, the small-cap company said, "Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Friday, May 10" 2024, inter alia to 1] Consider and approve the Audited Financial Results for the quarter and Financial Year ended March 31 2024. 2] Consider Recommendation and approval of the issue of Bonus Shares to the existing Equity Shareholders of the Company." After this stock market news outbreak, Remedium Lifecare shares witnessed strong buying in early morning sessions. Later on, the small-cap stock extended its early morning gains and touched an intraday high of ₹106.50 on BSE.