SRU Steels to Consider Share Capital Boost, Bonus Issue, and Interim Dividend

SRU Steels Ltd, a key player in the steel industry, has announced a crucial board meeting scheduled for March 10, 2023. The meeting agenda includes three significant proposals that could potentially benefit shareholders and strengthen the company's capital structure.

Key Proposals Under Consideration

1. Increase in Authorized Share Capital: The board will deliberate on expanding the company's authorized share capital. This move could pave the way for future growth initiatives and provide more flexibility in the company's capital structure.

2. Bonus Shares Issue: SRU Steels is set to consider issuing bonus shares to its shareholders. If approved, this would effectively increase the number of outstanding shares without diluting ownership, potentially rewarding long-term investors.

3. Interim Dividend for FY 2022-23: The board will also discuss the approval of an interim dividend payment for the financial year 2022-23, signaling potential returns for shareholders.

Important Dates for Shareholders

Shareholders whose names appear in the company's register on the record date will be eligible for the interim dividend, if approved. The company has committed to disbursing the dividend within 30 days of approval to eligible shareholders.

Trading Window Closure

In compliance with regulatory requirements, SRU Steels has implemented a trading window closure for designated persons. This closure is effective from February 24, 2023, and will extend until 48 hours after the board meeting's outcome is publicly disclosed. This measure ensures fair trading practices and prevents insider trading during this sensitive period.

The upcoming board meeting and its potential outcomes are likely to be of significant interest to SRU Steels' shareholders and market watchers alike. The proposed actions, particularly the potential bonus issue and interim dividend, could have positive implications for shareholder value. Investors and stakeholders are advised to keep a close watch on the company's announcements following the board meeting for detailed information on these corporate actions.