Small cap company sets record date for 10:1 stock split. Details here

2022 stock split: The board of directors of the small cap company Leading Leasing Finance and Investment Company Ltd has set September 22, 2022 as the record date for the share split. This means that the small cap shares will trade ex-split on September 21, 2022. The company’s board has already approved and declared the 10:1 stock split. This means one share of the company with a par value of 10 per capital share will now be divided into 10 shares with a par value of 1 Re per capital share after the stock split.

The small cap company informed the Indian stock exchanges of the record date of the stock split citing: “In accordance with Regulation 42(2) of the SEBI Listing Regulation, the Company has fixed Thursday September 22, 2022 as “date of record” for the purpose of determining the eligibility of Shareholders for the purpose of subdivision/splitting each fully paid ordinary share (equity) having a par value of Rs. 10/- (Ten Rupees only) each in the share capital of the Company, in ten (10) fully paid ordinary shares of par value Re. 1/- (Rupee One only) each, as approved by the shareholders at the 38th Annual General Meeting held on 09 September 2022.”

In July 2022, the small cap company informed the BSE of the stock split decision citing: “A meeting of the board of directors of Leading Leasing Finance and Investment Company Ltd (“the Company”) will be held on Friday 12 Aug 2022 at 12:00 p.m., among others to consider a proposal for a subdivision of the shares of the company from a nominal value @ Rs. 10/- each to a nominal value @ Re. 1/- each according to the beneficiary position / register of the members on the Record Date in such manner as may be determined by the Board of Directors, subject to such regulatory/statutory approvals as may be required and the approval of the shareholders of the Company.”

Leading Leasing Finance and Investment Company Ltd is a small capitalization company with a market capitalization of 60 crores. This is a BSE-listed security that hit a 52-week high 173.80 on BSE while its 52 week low on the BSE exchange is 48 each. Its BSE Thursday trade volume was 50,643, meaning the stock is a low-float stock and investors with low risk appetite should avoid taking a position in the small-float stock. capitalization.

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