Bonus issue timing requires implementation within specified periods after board or shareholder approval and cannot be withdrawn. Where shareholder approval is not required for capitalisation, an issuer must implement the bonus issue within a short period from board approval; where ... Summary
Bonus issue timing requires implementation within specified periods after board or shareholder approval and cannot be withdrawn.
Where shareholder approval is not required for capitalisation, an issuer must implement the bonus issue within a short period from board approval; where shareholder approval is required, implementation must occur within a longer prescribed period from the board meeting that announced the bonus issue subject to such approval. Commencement of trading in the bonus shares is the date of implementation, and an announced bonus issue cannot be withdrawn.
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