City Union Bank Limited has informed the Exchange regarding Notice of Postal Ballot to the Members of the Bank
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City Union Bank is seeking shareholder approval via postal ballot for two items: (1) appointment of Shri R Mohan as Independent Director from April 27, 2026 to May 15, 2030 - he is a veteran banker who joined the bank in 1975 as a clerk and rose to Chief General Manager, bringing expertise in banking, agriculture, treasury and credit; (2) issue of bonus shares in the ratio of 1:3 (1 bonus share for every 3 shares held) by capitalizing approximately Rs. 24.77 crore from the Securities Premium Account, resulting in issuance of 24.77 crore new equity shares of Re.1 each. The e-voting period runs from April 30, 2026 to May 29, 2026, with results to be announced by June 2, 2026.
The bonus issue will increase the bank's paid-up equity capital and provide existing shareholders with additional shares at no cost, potentially improving liquidity. The appointment of an experienced internal candidate as Independent Director strengthens board governance.