Iris Clothings Limited has announced a postal ballot to seek shareholder approval for the issuance of bonus equity shares.
The notice for the postal ballot, dated 15 May 2025, was sent to members electronically on 26 May 2025.
The voting period will commence on 27 May 2025 at 9:00 a.m. (IST) and will end on 25 June 2025 at 5:00 p.m. (IST).
The company proposes to issue bonus shares in the proportion of 1 (one) equity share for every 1 (one) existing equity share held by the members.
The bonus shares will be issued to those shareholders whose names appear in the Register of Members/ Beneficial Owners as on 16 May 2025.
The Board of Directors believes that the bonus issue will reward the shareholders for their continued support and loyalty, encourage investor participation, increase liquidity, and expand the shareholder base.
The bonus issue shall be implemented within two months from 15 May 2025, subject to members’ approval.
Members are requested to note that the new equity shares to be allotted pursuant to the bonus issue shall be allotted in dematerialized form only.