Thyrocare Technologies Limited , a leading diagnostics company, has announced a series of significant corporate actions, including a bonus share issue and an interim dividend, as part of its Silver Jubilee celebrations.

Financial Performance

For the quarter ended September 30, Thyrocare reported:

Bonus Share Issue

The Board of Directors has approved and recommended a bonus share issue in the ratio of 2:1, subject to shareholder approval. This means shareholders will receive two new fully paid-up equity shares for every one share held.

Interim Dividend

An interim dividend of Rs 7 per equity share (70% of face value) has been declared. The record date for dividend eligibility is set as October 24.

Increase in Authorized Share Capital

To facilitate the bonus issue, the company plans to increase its authorized share capital from Rs 100 crores to Rs 300 crores, subject to shareholder approval.

Employee Stock Options

The company has allotted 59,450 equity shares under its employee stock option scheme.

Internal Auditor Reappointment

Ernst & Young has been re-appointed as internal auditors.

These corporate actions reflect Thyrocare's strong financial position and its commitment to rewarding shareholders as it marks its 25th year of operations. The bonus issue is likely to enhance the liquidity of the company's shares in the market.

Investors should note that these decisions are subject to necessary approvals and regulatory compliance. The company will notify the record date for determining shareholder eligibility for bonus shares in due course.

As Thyrocare Technologies continues to grow in the competitive diagnostics sector, these shareholder-friendly moves could potentially boost investor confidence and market perception of the company.

Thyrocare Technologies Limited, a prominent player in the Indian diagnostics sector, has successfully appointed Mr. Alok Kumar Jagnani (DIN: 00644360) as a Non-Executive and Non-Independent Director. The appointment, conducted through a postal ballot and e-voting process, received overwhelming support from shareholders.

Shareholder Approval

The ordinary resolution for Mr. Jagnani's appointment was passed with a resounding majority:

Total valid votes cast: 4,57,32,435

Voting Process

The remote e-voting period for this resolution ran from August 28 to September 26. Shareholders were given the opportunity to cast their votes electronically, ensuring wide participation in the decision-making process.

Scrutinizer's Report

The scrutinizer's report, prepared by Devesh Kumar Vasisht of DPV & Associates LLP, Company Secretaries, confirmed that the resolution was approved with the requisite majority. The report detailed the voting process and results, ensuring transparency in the appointment procedure.

Company Details

Thyrocare Technologies Limited, with a fully paid-up share capital of Rs. 52,99,44,470 divided into 5,29,94,447 equity shares of Rs. 10 each, continues to strengthen its corporate governance structure with this new appointment.

Implications

The appointment of Mr. Alok Kumar Jagnani as a Non-Executive and Non-Independent Director is expected to bring fresh perspectives to Thyrocare's board. This move aligns with the company's commitment to maintaining a robust and diverse leadership team.

Compliance and Transparency

In line with regulatory requirements, Thyrocare has promptly disclosed the voting results and the appointment details to the National Stock Exchange of India Limited and BSE Limited. The company has also made this information available on its website, reinforcing its commitment to transparency and good corporate governance practices.

Trading Window Closure

In a separate announcement, Thyrocare informed that the trading window for the company's equity shares will be closed from October 01. This closure affects Promoters, Directors, Designated Employees, and their immediate relatives. The trading window will reopen 48 hours after the announcement of the unaudited financial results for the quarter and half-year ending September 30.

This strategic appointment and the company's adherence to regulatory norms underscore Thyrocare's commitment to maintaining high standards of corporate governance and transparency in its operations.