In a significant move to bolster shareholder value, Sandur Manganese has announced the issuance of bonus shares to its equity shareholders. The decision was reached during the company’s 367th board meeting held on December 18, where a bonus share ratio of 5:1 was unveiled.
This translates to five new fully paid-up equity shares, each valued at Rs 10, for every existing fully paid-up equity share of the same denomination held by eligible shareholders. The company, renowned for its mining operations in the Hospet-Ballari region of Karnataka, particularly focuses on the extraction of low-phosphorous manganese and iron ore.
The specific record date for the bonus share distribution is yet to be determined, pending approval from shareholders and subsequent regulatory filings. The company’s commitment to this value-boosting initiative reflects its strategic approach to rewarding shareholders and fostering growth. As Sandur Manganese continues to navigate the dynamic landscape of mining in the region, this bonus share issuance adds an extra layer of value for its stakeholders, underlining the company’s dedication to sustainable and lucrative business practices.