Stock Split 2022: The Board of Directors of small-cap company Leading Leasing Finance and Investment Company Limited has fixed 22 September 2022 as the record date for the stock split. This means, the small-cap stock will trade ex-split on 21st September 2022. The Board of the Company has already approved and declared the 10:1 Stock Subdivision. It means a stock of the company whose face value is 10 per equity share after stock split will now be split into 10 shares with a face value of Re 1 per equity share.
Small-cap company gave information to Indian Share Market Quoting the exchanges regarding stock split record date, “In terms of Regulation 42(2) of the SEBI Listing Regulations, the Company has fixed Thursday 22 September 2022 as the ‘Record Date’ in order to determine the eligibility of shareholders. Sub-division/division of one fully paid-up equity share each having a face value of Rs.10/- (Rupees ten only) in the share capital of the company, ten (10) fully paid-up equity (equity) ) The face value of the shares of Rs.1/- (Rupee One only) each, as approved by the shareholders in the 38th Annual General Meeting held on 09 September 2022.
In July 2022, the small-cap company, informing BSE about the stock split decision, had said, “A meeting of the Board of Directors of Leading Leasing Finance and Investment Company Limited (‘The Company’) will be held on Friday, 12 August 2022. To consider, inter alia, the proposal for sub-division of the equity shares of the Company by the face value of @ Rs.1/- each as per the status of the beneficiary/register of members, inter alia As on record date in the manner prescribed by the Board of Directors, subject to regulatory/statutory approvals as may be necessary and subject to the approval of the shareholders of the Company.”
Leading Leasing Finance & Investment Company Limited is a Small-cap company with a market cap of 60 crores. This is a BSE listed stock, which has made a 52-week high of Rs. 173.80 on BSE while its 52-week low on BSE exchange 48 each. Its trade volume on BSE stood at 50,643 on Thursday, which means the stock is a low float stock and low-risk investors should avoid taking any position in this small-cap stock.
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