Numeric Power Systems Ltd, engaged in manufacturing uninterrupted power supply (UPS) systems, today said it would conduct postal ballot to seek shareholders' nod for the proposed bonus issue in 1:1 ratio.
It issued a notice to this effect, Numeric Power Systems said in a filing to the Bombay Stock Exchange(BSE). The shareholders would consider to approve a special resolution through postal ballot for issuing and allotting one bonus share for each equity share of Rs 10 held by them, it said.
The company has appointed S Annadurai, a retired commercial banker, as a scrutiniser for conducting postal ballot process.
The duly filled postal ballots should reach the scrutiniser till October 3, it said.
The result of the postal ballot would be announced on October 5 after the scrutiniser submits the final report, it said.
The firm, having its manufacturing facilities at Pondicherry, Chennai, Salem and Himachal Pradesh, also provides maintenance and other after-sale services in respect of UPS systems through a network of branches. Besides, the company has completed several solar photo voltaic (SPV) projects.
Shares of the company closed at Rs 492.95, up 1.38 per cent from previous close on the BSE.