Home PENNY STOCK Penny stock announces record date for 1:1 rights issuance at 52-week high...

Penny stock announces record date for 1:1 rights issuance at 52-week high level

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Penny stock announces record date for 1:1 rights issuance at 52-week high level

Consumer discretionary firm Thambbi Modern Spinning Mills Ltd is a small-cap company with a market worth of $9.42 Cr. The business’s activities include the spinning and weaving of various fibre and yarn kinds. The company also trades in yarn and cotton. The record date that the business has established for the 1:1 rights offering may be verified by market watchers.

The following parameters of the Rights Issue were taken into consideration and approved by the Rights Issue Committee of the Board of Directors of the Firm at its meeting held today, December 9, 2022, according to a statement from the company made in a stock market filing. 1) Instrument: 100 fully paid-up equity shares with a Rs. 10 nominal value. 2) The total number of equity shares and rights issued is 57,62,770, each with a face value of Rs. 10 and a combined value of up to Rs. 576.28 lakhs. 3) No securities premium; rights issue price of Rs. 10 per equity share. 4) Record Date: December 16, 2022, on Friday 5) The rights issue period begins on Thursday, December 29, 2022 (a). (c) Rights Issue Closing Date: January 17, 2023, Thursday 6) The ratio of Rights Equity Shares to Fully Paid-Up Equity Shares held by Eligible Shareholders as of the Record Date is 1 Rights Equity Share for every 1 Fully Paid-Up Equity Share.

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