We wish to inform you that a meeting of Board of Directors of the Company is scheduled to be held on March 20, 2026 inter alia to consider for approval of redemption of unlisted preference ....
TIMEX · price
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Timex Group India has informed the BSE that its Board will meet on March 20, 2026, to consider the redemption of 2.29 crore (2,29,00,000) 13.88% Cumulative Redeemable Non-Convertible Preference Shares that are unlisted. These preference shares were originally issued on March 21, 2006, with a face value of Rs. 10 each, and the total redemption amount works out to Rs. 22.90 crore. The company has fixed Friday, March 20, 2026, as the record date to identify which preference shareholders are eligible to receive the redemption proceeds. This is essentially the maturity of a 20-year-old preference share instrument.
Since the shares being redeemed are unlisted preference shares (not equity), this event has little direct effect on listed equity shareholders or the share price. It simply completes a pre-scheduled capital obligation and will reduce the company's preference share capital on the books.