Danube Industries Limited has recommended a bonus issue of 1 bonus share for every 1 existing share held by the shareholders as of the record date. This means that a shareholder holding 100 shares of Danube Industries will get 100 bonus shares, free of cost.
The bonus issue is scheduled to be implemented on September 30, 2023. The shares will be credited to the shareholders’ accounts on or before October 15, 2023.
The bonus issue is subject to the approval of the shareholders and other regulatory approvals. The record date for the bonus issue will be announced by the company in due course.
The bonus issue is a positive development for Danube Industries shareholders as it will increase their holding in the company without any additional investment. It will also improve the liquidity of the shares and make them more attractive to investors.
Here are some of the reasons why Danube Industries might have announced a bonus issue:
- To improve the liquidity of the shares and make them more attractive to investors.
- To reward shareholders for their continued support.
- To boost the company’s image and reputation.
- To conserve cash and avoid issuing new shares.
The bonus issue is a good sign for Danube Industries and it is likely to be well-received by the shareholders. It will help to increase the company’s share price and improve its financial performance.