Bonus issue timing: issuers must implement announced bonus issues promptly and cannot withdraw once announced. Regulation 95 requires issuers to implement board-approved bonus issues within fifteen days if shareholder approval for capitalisation is not required; if shareholder approval is required, implementation must occur within two months from the board meeting date at which the decision was taken, subject to that approval. Once announced, a bonus issue cannot be withdrawn.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Bonus issue timing: issuers must implement announced bonus issues promptly and cannot withdraw once announced.
Regulation 95 requires issuers to implement board-approved bonus issues within fifteen days if shareholder approval for capitalisation is not required; if shareholder approval is required, implementation must occur within two months from the board meeting date at which the decision was taken, subject to that approval. Once announced, a bonus issue cannot be withdrawn.
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