Beta Glass Nigeria Plc has introduced a 1 for five Bonus shares as authorized by its shareholders.

The bonus subject was authorized as a part of the resolutions handed at its 48th annual common assembly held on fifth July 2022. Beta Glass additionally authorized a dividend of N1.1 per share out of the income for the total yr ended December 31st, 2022.

Bonus Problem declared

The corporate resolved to pay out bonus points to the equal of N55.5 million out of its retained earnings and might be paid solely to shareholders who existed in its register on or earlier than June 10th, 2022.

See excerpt of the board decision under;

“IT WAS RESOLVED (a) that the Administrators be licensed to capitalize the sum of N55,552,444.00 (Fifty–5 Million, 5 Hundred and Fifty–Two Thousand and 4 Hundred and Forty–4 Naira) out of the steadiness standing to the credit score of the retained earnings of the Firm as at December 31 2021, and obtainable for distribution, and to applicable the afore-stated capitalised sum to paying up, in full and at par worth one (1) abnormal share at 50 Kobo every for the aim of issuance of bonus shares to the prevailing abnormal shareholders of the Firm holding 5 (5) abnormal shares of 50 Kobo every within the share capital of the Firm whose names are registered within the Firm’s Register of Members on the shut of enterprise on June 10 2022; which bonus shares being abnormal shares shall be issued, allotted, credited as totally paid up, and at par within the proportion of One (1) abnormal share of 50 Kobo for each 5 (5) abnormal shares of 50 Kobo now held by them, and shall rank parri passe in all respect with the prevailing abnormal shares of the Firm.”

Beta Glass has excellent shares of 599.97 million models thus a 1 for five bonus subject will imply the creation of about 119.eight million information shares.

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