Board of PMC Fincorp approves bonus issue in ratio of 1:1

At meeting held on 08 July 2015

PMC Fincorp announced that the Board of Directors of the Company at its Meeting held on 08 July 2015 has considered, approved and decided the following:

1. Issue of Bonus Equity Shares in the ratio of 1:1, i.e. 243,280,600 (Twenty Four Crores Thirty Two Lakhs Eighty Thousand Six Hundred) Equity Shares of face value of Re. 1/- each for every existing 243,280,600 (Twenty Four Crores Thirty Two Lakhs Eighty Thousand Six Hundred) Equity Share of Rs. 1/- each fully paid by way of capitalization of Free Reserves & Securities Premium Account subject to the approval of Members through Postal Ballot;

2. Due to future requirements of funds the Boards of Directors have not recommended any dividend during the year under consideration.

3. Increase in Authorised Share Capital of the Company from Rs. 250,000,000/- consisting of 250,000,000 Equity Shares of Rs. 1/- each to Rs. 500,000,000/- consisting of 500,000,000 Equity Shares of Rs. 1/- each to make the capital sufficient to accommodate the bonus issue and alteration of Clause V of Memorandum of Association of the Company subject to the approval of Members through Postal Ballot;

4. Appointment of Ashu Gupta, Practising Company Secretary, as scrutinizer for the postal ballot process to ascertain the results of Postal Ballot/e-voting process.

The Board further approved Notice of Postal Ballot along with Explanatory Statement, Postal Ballot Form, E-voting Procedure and related matters for consideration and approval of Members in respect of businesses transacted.

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