FRONTSP · price
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Awaiting price reaction for this filing.
Frontier Springs Ltd has issued a Postal Ballot Notice to shareholders seeking approval through remote e-voting for four key resolutions. Resolution 1 (Special) alters the Articles of Association to enable cancellation of forfeited shares. Resolution 2 (Ordinary) seeks to cancel 49,400 forfeited equity shares of Rs. 10 each (forfeited in 1996, representing Rs. 4.94 lakh in share capital). Resolution 3 (Ordinary) proposes increasing the Authorised Share Capital from Rs. 5.10 crore to Rs. 15.10 crore by creating an additional 1 crore equity shares of Rs. 10 each, primarily to accommodate the bonus issue. Resolution 4 (Ordinary) seeks approval for issuing bonus shares in a 2:1 ratio (two bonus shares for every one held), totalling up to 78,77,022 shares by capitalising Rs. 7,87,70,220 from Securities Premium/General Reserves/Surplus. The e-voting period runs from February 3, 2026 to March 4, 2026, with results announced on March 5, 2026. The record date for the bonus issue is March 6, 2026.
If approved, shareholders will receive 2 bonus shares for every share held, effectively tripling their share count (though share price typically adjusts downward proportionally). The bonus signals management's confidence in reserves and is generally viewed positively, though it does not change the underlying value of holdings.