Section 63 of CA 2013 : Section 63: Issue Of Bonus Shares
CA 2013
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Explanation using Example
Imagine a company named "TechGrow Solutions Ltd." has been performing well and accumulating profits over the years. The company has substantial free reserves and a healthy securities premium account. The Board of Directors wishes to reward the shareholders for their investment and loyalty without distributing cash as dividends.
The Board decides to issue bonus shares. They check the Articles of Association and confirm that the issuance of bonus shares is permitted. A general meeting is called, and the shareholders authorize the issuance of bonus shares based on the Board's recommendation. TechG...
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