Bonus Share Issue For
Description
How to fill out Share Exchange Agreement Regarding Shareholders Issued Exchangeable Nonvoting Shares Of Capital Stock?
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FAQ
The Company shall file Form PAS-3 within 30 days of passing of the resolution for allotment of shares with following attachments: Copy of Resolution passed in General Meeting authorizing the issue of bonus shares. Copy of Board Resolution for Allotment of Shares. List of Allottees. Any other mandatory attachment if any.
The Company shall convene a Meeting of its Board of Directors to pass a Board resolution for the following: Approving the proposal of issue of Bonus shares, the quantum and ratio of bonus shares to be issued, allotment of such bonus shares, and record date for such issue.
These are additional shares given to shareholders without any additional cost. For example, if a company declares a bonus issue, then every shareholder gets one share free for every share owned. So, a shareholder having 10 shares of a company will get 10 bonus shares, taking their total to 20 shares.
For example, a three-for-one bonus issue entitles each shareholder three shares for every one that they hold before the issue. A shareholder with 1,000 shares receives 3,000 bonus shares (1,000 × 3 ÷ 1 = 3,000). A company's share price proportionally adjusts to the number of bonus shares issued.
Journal Entries (A) (1) Upon the sanction of an issue of bonus shares (a) Debit Profit & Loss Account Debit General Reserve Account Debit Capital Reserve Account (realised in cash only) Debit Securities Premium Account Debit Capital Redemption Reserve Account (b) Credit Bonus to Shareholders Account.