Unison Metals Limited has taken a significant step in restructuring its shareholding categories by submitting an application to BSE Limited for the reclassification of certain promoters from the 'Promoter Group' to the 'Public' category. This move, which involves three key shareholders, comes after receiving necessary approvals from the company's board and shareholders.

Details of the Reclassification

The reclassification request pertains to three promoters:

In total, the reclassification involves 55,000 shares, representing 0.33% of the company's shareholding.

Timeline of Events

• August 27, 2024: Board approval obtained for the reclassification
• September 24, 2024: Shareholder approval secured
• October 19, 2024: Application submitted to BSE Limited

Regulatory Compliance and Disclosure

Unison Metals Limited acknowledged a delay in disclosing the application submission as required under Regulation 31A(8)(c) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company attributed this oversight to a lack of awareness regarding specific regulatory requirements.

In a statement to the BSE, the company clarified:

"The delayed disclosure... was purely inadvertent and arose due to a lack of awareness and understanding of the specific requirement of the said sub-regulation. Further, we also confirm that there was no mala-fide intention for the non-disclosure of the said sub Regulation."

Corrective Measures

To address this compliance issue, Unison Metals Limited has assured stakeholders that appropriate measures are being implemented to strengthen their compliance framework. The company aims to prevent similar oversights in the future and maintain transparency in its regulatory filings.

Impact and Outlook

While the reclassification involves a relatively small percentage of the company's total shareholding, it represents a notable change in the company's ownership structure. Shareholders and market observers will be watching closely for the BSE's decision on this application and any potential impact on the company's governance and market perception.

As the application is under review by BSE Limited, further updates are expected once a decision is reached on the proposed reclassification.

Unison Metals Limited has announced a crucial board meeting scheduled for August 22, 2025, where the company will consider a potential stock split and related amendments to its Memorandum of Association. The meeting, set to take place at the company's registered office at 12:30 PM, has garnered attention from investors and market watchers alike.

Key Agenda Items

The board of directors will deliberate on the following main points:

1. Stock Split Consideration: The primary focus of the meeting will be to consider a sub-division (stock split) of the company's equity shares. This move could potentially increase the liquidity of the stock and make it more accessible to a broader range of investors.

2. Memorandum of Association Amendment: In line with the potential stock split, the board will discuss alterations to the company's Memorandum of Association. These changes are necessary to reflect the new share structure if the stock split is approved.

3. Additional Business Matters: The meeting agenda also allows for the discussion of other business items with the permission of the Chair, leaving room for potential additional announcements or decisions.

Regulatory Compliance

Unison Metals has duly informed the Bombay Stock Exchange of this scheduled meeting, adhering to the provisions of Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This transparency ensures that all stakeholders are informed of potential significant corporate actions.

Management Statement

Mitaliben R. Patel, Company Secretary and Compliance Officer of Unison Metals Limited, officially communicated the meeting details to the stock exchange. The company's proactive approach in informing shareholders and the market about this potential corporate action demonstrates its commitment to good governance practices.

Investor Implications

While the outcome of the board meeting remains to be seen, the consideration of a stock split could have several implications for investors:

• Increased Liquidity: A stock split typically leads to increased liquidity, making it easier for investors to buy and sell shares.
• Broader Investor Base: Lower share prices resulting from a split could attract a wider range of retail investors.
• Market Perception: Stock splits are often viewed positively by the market, as they can signal management's confidence in the company's future growth prospects.

Investors and market participants will be keenly awaiting the results of this board meeting, which could potentially reshape Unison Metals' share structure and market presence. As always, any decisions made will be subject to necessary regulatory approvals and further corporate actions.