What is XC Date?

Thushara Ayya · 1 What is XC Date? Thu Nov 28, 2013 10:17 pm

Thushara Ayya

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Tess Agro PLC - XC
When Monday, Dec 23, 2013
Description Proportion: - One (01) new Ordinary Share for every (03) Three existing Ordinary Shares Allotment & Entitlement: - 20.Dec.2013 Qty Offered: - (Voting) - up to 80,000,000 / (Non-Voting) - up to 10,000,000 Consideration: - Rs. 1.00 per share
What is XC date and I have 3000 shares @ 1.60
My dear friends pl explain this......

sriranga · 2 Re: What is XC Date? Fri Nov 29, 2013 3:51 am

sriranga

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What is a Capitalization of reserves?

This is more commonly known as a bonus issue. This is a situation in which you are given shares free of charge in a specific proportion to their current holding. The required funds are taken from the reserves of the Company.

What should I do to get shares in a capitalization of reserves?

If you are a shareholder entitled for the capitalization of reserves you will get a circular setting out all the details. If the company's Articles of Association require shareholder approval to be obtained for the capitalization, the company will hold an Extraordinary General Meeting to obtain same (Remember, to be entitled for the capitalization you should hold shares of that particular company as at end of trading on the EGM date).

If the shareholders approve the particular resolutions, the company is required to complete the direct uploads within 5 market days from and excluding the date of the EGM and submit a Declaration to the CSE on the immediately following market day as per CSE Rules. The shares will be available in your account on the following market day.

What does XC date mean?

XC stands for ex-capitalization. Similar to a rights issue, in the case of a capitalization you should hold shares prior to the XC date (as at end of trading on the EGM date) to be entitled for the capitalization. Buying shares on or after the XC date will not entitle you for the capitalization.
http://forum.srilankaequity.com/t2929-stock-trading-corporate-actions

Thushara Ayya · 3 Re: What is XC Date? Fri Nov 29, 2013 9:07 am

Thushara Ayya

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sriranga wrote:What is a Capitalization of reserves?

This is more commonly known as a bonus issue. This is a situation in which you are given shares free of charge in a specific proportion to their current holding. The required funds are taken from the reserves of the Company.

What should I do to get shares in a capitalization of reserves?

If you are a shareholder entitled for the capitalization of reserves you will get a circular setting out all the details. If the company's Articles of Association require shareholder approval to be obtained for the capitalization, the company will hold an Extraordinary General Meeting to obtain same (Remember, to be entitled for the capitalization you should hold shares of that particular company as at end of trading on the EGM date).

If the shareholders approve the particular resolutions, the company is required to complete the direct uploads within 5 market days from and excluding the date of the EGM and submit a Declaration to the CSE on the immediately following market day as per CSE Rules. The shares will be available in your account on the following market day.

What does XC date mean?

XC stands for ex-capitalization. Similar to a rights issue, in the case of a capitalization you should hold shares prior to the XC date (as at end of trading on the EGM date) to be entitled for the capitalization. Buying shares on or after the XC date will not entitle you for the capitalization.
http://forum.srilankaequity.com/t2929-stock-trading-corporate-actions

Thanks a lot sriranga....