Big Update On 3:1 Bonus Shares Announced, July 6 - Record Date; Do You Own The Stock?

Remedium Lifecare trades API intermediates (KSMs & CRMs) as well as a range of other raw materials that are utilised in the pharmaceutical and healthcare industries. It is a pharmaceutical company with a focus on both products and services. Its products division deals with the trading and selling of APIs and intermediates to generic and innovator pharmaceutical companies in domestic and international markets. The shares of Remedium Lifecare are in focus as the company has announced a big update on 3:1 bonus shares for which June 19 is the record date.

Remedium Lifecare Upcoming Bonus Shares

"With a view to rewarding the existing shareholders, encouraging the participation of small investors by increasing the liquidity of the Equity Shares and to expand the retail shareholders' base, the Board of Directors, at their meeting held on 27th May, 2024, considered, approved and recommended issue of shares by increasing the Issued, Subscribed and Paid-up Share Capital of the Company to a sum of Rs. 40,32,00,000/- after capitalizing a sum not exceeding Rs. 30,24,00,000/- from the Retained Earnings Account as appropriate, as per the Audited Financial Statements of the Company for the Financial Year ended March 31, 2024 by applying the same towards payment of unissued shares to be issued to the members as fully paid bonus shares. The capitalization of Retained Earnings Account requires members' approval as per the Articles of Association of the Company," said Remedium Lifecare in a regulatory filing.

"The bonus issue of Equity Shares will be subject to the approval of Members and other approvals, consents, permissions, conditions and sanctions, as may be necessary. The fully-paid Bonus Shares shall be distributed to the Members whose names appear in the Register of Members maintained by the Company/List of Beneficial Owners as received from the NSDL and CDSL in the ratio of 3 (Three) Equity Shares of Re. 1/- each for every 1 (One) fully paid Equity Shares of Re. 1/- each held as on a Record date decided for this purpose," the company further added in a statement.

"Further, in compliance with applicable regulations, rules, guidelines and Circulars as may be issued from time to time in this regard, the Bonus Equity Shares to be issued to the shareholders holding their shares in Physical form shall be credited to the Demat Suspense Account of the Company and on providing the details of Demat account, such Bonus Equity Shares shall be credited to the concerned Demat account of the shareholder. The Bonus Equity Shares, once allotted, shall rank paripassu in all respects and carry the same rights as the existing Equity Shares and holders of the Bonus Equity Shares shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new Equity Shares are allotted," Remedium Lifecare further stated.

Remedium Lifecare Bonus Shares Record Date

"We hereby to inform you that Remedium Lifecare Limited ("the Company") has fixed the Record date as Saturday, 06th July, 2024 in order to determine the number of shareholders entitled for Bonus Equity shares in the ratio of 3:1 (i.e., Three Equity Shares of Re. 1/- each fully paid up for every One Equity Share of Re. 1/- each fully paid up held as on the record date decided for this purpose)," said the company in a stock exchange filing.

"The voting period begins on June 23, 2024 at 9.00 a.m and ends on June 25, 2024 at 5.00 p.m. During this period shareholders' of the Company, holding shares either in physical form or in dematerialized form, as on the cut-off date (record date) of June 19, 2024 may cast their vote electronically. The e-voting module shall be disabled by CDSL for voting thereafter," the company said in a regulatory filing.

"The new equity shares of Re. 1/- (Rupee One only) each to be allotted as Bonus Shares shall be subject to the terms and conditions contained in the Memorandum and Articles of Association of the Company, SEBI (ICDR) Regulations, 2018 and shall rank pari passu with the existing fully paid-up equity shares of the Company in all respects and shall be entitled to participate in full in any dividends and any other corporate action declared after the new equity shares are allotted and no allotment letters shall be issued to the allottees of the bonus shares," said Remedium Lifecare in a stock exchange filing.

"The Bonus Equity Shares to be issued shall be credited in the electronic form in the Demat accounts of the shareholders holding shares in the dematerialized form on the Record Date and the Bonus Equity Shares to be issued to the shareholders holding their shares in Physical form shall be credited to the Demat Suspense Account of the Company and on providing the details of Demat account, such Bonus Equity Shares shall be credited to the concerned Demat account of the shareholder, in terms of applicable regulations, rules, guidelines and Circulars as may be issued from time to time in this regard," said the company in a regulatory statement.

Remedium Lifecare Financials

Remedium Lifecare recorded a net loss of Rs 53.72 crore for the quarter that ended in March 2024, compared to a net loss of Rs 4.78 crore for the quarter that ended in March 2023. In the quarter that ended in March 2024, sales increased by 1763.58% to Rs 1408.49 crore, compared to Rs 75.58 crore in Q4FY23. Net profit for the entire year jumped by 502.76% to Rs 32.73 crore in the fiscal year that ended in March 2024 from Rs 5.43 crore in the fiscal year that ended in March 2023. Sales for the year ended March 2024 increased by 692.74% to Rs 4041.71 crore, compared to Rs 509.84 crore for the year ended March 2023.