Remedium Lifecare Secures Multi-year Supply Contract of Rs 175 Cr After 3:1 Bonus Shares

Remedium Lifecare's shares began trading on Tuesday at a higher price of Rs 71.20 on the BSE, and they quickly rose to an intraday high of Rs 73.40. The spike in stock price took place following the company's announcement that it signed a multi-year supply contract with a UK-based pharmaceutical distribution company Aster Biotech Limited. Various Active Pharmaceutical Ingredients (APIs), Intermediates, and Specialty Chemicals are the supplies to be provided under the terms of the contract. The supplies scheduled between July 2024 and June 2025 alone are valued at Rs 175 Cr, according to Remedium Lifecare.

The company set the record date for Saturday, July 6, 2024 on May 31st in order to determine the number of shareholders who are eligible for bonus equity shares in the 3:1 ratio.

"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," said Remedium Lifecare in a statement.

As of July 31, 2023, the company has allotted 6480000 bonus equity shares at a face value of Rs. 10.00/-each, or 9 equity shares for every 5 existing equity shares held by the Members. Additionally, the company has sub-divided (Stock split) each 1 equity share at a face value of Rs. 10/-each into 2 equity shares at a face value of Rs. 5/-each.
"The company has issued bonus share to the shareholders at 9 share for every 5 shares held i.e. 64,80,000 number of bonus shares issued. Later the company split its equity share of face value Rs.10/- to Face value Rs.5/- which was further split to Rupee 1/- resulting in total number of bonus share issued to 6,48,00,000," said Remedium Lifecare in a statement.

On 31st May, the company also informed the marketplace that "We wish to inform you that the 35111 Annual General Meeting (AGM) of the Company will be held on Wednesday, 26 June, 2024 at 11:00 AM (IST) through Video Conferencing (VC)I Other Audio Visual Means (OA VM), in accordance with the circulars issued by the Ministry of Corporate Affairs (MCA) and Securities Exchange Board of India (SEBl). In Compliance with the MCA and SEBI circulars, the Notice convening the AGM along with the Annual Report for the Financial Year 2023-24 will be sent to all those members of the Company whose email addresses are registered with the Depository Participants / Company / Registrar and Transfer Agents viz. Big Share. The Registrar of Members and Share Transfer Books of the Company will be closed from Thursday, June 20, 2024 till Wednesday, June 26, 2024 (both days inclusive) for the purpose of the 35th Annual General Meeting.