Seshasayee Paper and Boards Limited has informed the Exchange about Copy of Newspaper Publication - Intimating Shareholders about Transfer of Unclaimed Dividend and Corresponding Shares to IEPF Account (FY 2017-18)
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Awaiting price reaction for this filing.
Seshasayee Paper and Boards has published a newspaper notice to inform shareholders that unclaimed dividends and corresponding equity shares from Financial Year 2017-18 are being transferred to the Investor Education and Protection Fund (IEPF) Authority. Under Indian company law, dividends unclaimed for 7 consecutive years must be moved to the IEPF, along with the shares linked to those dividends. Shareholders who have not yet claimed their FY 2017-18 dividends are advised to do so before the transfer takes place. The notice is a standard regulatory requirement and has been published as per MCA and SEBI guidelines.
This is a routine compliance filing and is unlikely to affect the stock price. Shareholders who have not claimed their FY 2017-18 dividends should act quickly to claim them, along with the linked shares, before they are transferred to the IEPF.