M K PROTIENS LTD shares hit upper move as stock trades ex-split

M K PROTIENS LTD had announced to issue bonus shares in 2:1 ratio in December 2023,
for which the Record date to determine the eligible shareholders shall be decided and will be intimated to the stock exchanges in due course.

New Delhi (India), February 9: Shares of M K PROTEINS Ltd hit upper circuit limit on Thursday’s session as the stock traded ex-bonus during the session. The company had announced the bonus issue earlier, along with fundraising plans, through an exchange filing with the bourses.

 M K PROTIENS LTD had announced to issue bonus shares in 2:1 ratio in December 2023. It meant that every eligible shareholder of the company will get four bonus shares with a face value Re 1 each for every share held by them with a face value of Re 1 each, as on the record date for the issue.
 
 The company took approval from the shareholders for the issue of bonus shares in the aforementioned ratio. Subsequent to the approval, Company as on the record date, subject to the approval of shareholders and such other approvals as may be required.
 
 Shares of M K PROTIENS LTD hit an upper move of 10 per cent on last 5 days at Rs 54 on an adjusted basis, with a total market capitalization of close to Rs 675 crore. The stock had settled at Rs 53.90 apiece in the previous session on February
 
 BONUS ISSUE TO THE EXISTING SHAREHOLDERS OF THE COMPANY

The proposal of issuance of Bonus equity shares to the existing shareholders of the Company in the ratio of 2 : 1 i.e. 2 (Two) fully paid-up bonus equity shares of face value of Re. 1/- (Rupee One Only) each for every 1 (One) existing fully paid-up equity shares having a face value of Re. 1/- (Rupee One Only) each held by the eligible shareholders of the Company as on the record date, subject to the approval of shareholders and such other approvals as may be required.

Record date to determine the eligible shareholders shall be decided and will be intimated to the stock exchanges in due course.

Disclosure with respect to the Bonus Issue under Regulation 30 of SEBI Listing Regulations read with SEBI circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 is enclosed as Annexure II to this letter.

INCREASE IN AUTHORIZED SHARE CAPITAL OF THE COMPANY

The increase in Authorised Share Capital of the Company from Rs. 15,00,00,000 (Rupees Fifteen Crores Only) divided into 15,00,00,000 (Fifteen Crores Only) Equity Shares of Re. 1/- each to Rs. 40,00,00,000 (Rupees Forty Crores Only) divided into 40,00,00,000 (Forty Crores Only) Equity Shares of Re. 1/- each and consequent amendment in the Capital Clause (Clause V) of Memorandum of Association of the Company, subject to the approval of shareholders.

Company’s production facility is located in Ambala, Haryana with an installed refining capacity of 250 tons per day.

Incorporated in 2012, M K PROTIENS LTD  is engaged in manufacturing manufactures vegetable refined oils and has a retail brand Gloh. It does refining and production of Crude Oils to obtain Refined Rice Bran Oil, Canola Oil, Soya Bean Oil, Sunflower Oil and Rice Bran Bleached Oil. During the refining process, certain by-products are also manufactured viz. Rice Bran Fatty Acid Oil, Rice Bran Wax, Gums and Spent Earth which are also saleable. Further, it also import crude oils, process them and sell the finished product. It also trades in edible and non-edible oils.

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