Intimation regarding Notice of Extra-ordinary General Meeting ("EGM") to be held on 30th June, 2025
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Bright Outdoor Media Limited (BSE: 543831) has called an EGM on June 30, 2025 at 1:00 PM at its registered office in Andheri West, Mumbai, to seek shareholder approval for two key items. The first resolution seeks to increase the Authorised Share Capital from Rs. 15 Crore (1.50 crore equity shares of Rs. 10 each) to Rs. 22 Crore (2.20 crore equity shares of Rs. 10 each), creating an additional 70 lakh shares. The second resolution proposes a bonus issue in the ratio of 1:2, i.e., one new fully paid-up equity share for every two shares held, totaling 72,74,390 bonus shares to be issued by capitalising the Securities Premium Account and Free Reserves. As of March 31, 2025, the company had Free Reserves of Rs. 64.67 Crore. The company has been listed on the BSE SME platform since March 24, 2023. Remote e-voting will be open from June 27 to June 29, 2025, with the cut-off date set at June 23, 2025.
If approved, shareholders will receive one bonus share for every two held, expanding the paid-up capital from about 1.45 crore shares to roughly 2.18 crore shares. While bonuses reward existing shareholders at no cost, the share price typically adjusts downward on the ex-date to reflect the higher share count, so the overall value of holdings should remain unchanged on day one. The increase in authorised capital also signals the company's intent to raise additional funds or issue further securities in the future, which could lead to potential dilution later.