Scanpoint Geomatics Limited board approves rights issue at Rs. 12.50 per share

The Rights Issue Committee of Scan point Geomatics Limited has at its meeting held today, have approved the issue of up to 1,99,67,482 partly paid-up equity shares of the face value of Rs. 2/- each (“Rights Equity Share”) at an issue price of Rs. 12.50/- per Rights Equity Share (including premium of Rs. 10.50/- per Rights Equity Share) for an amount aggregating up to Rs. 2,495.94 Lakhs to all the existing equity shareholders of the Company on a rights basis (“Rights Issue”).

The ratio for the rights issue is 40 (Forty) Rights Equity Shares for every 99 (Ninety Nine) existing Equity Shares of Rs. 2/- each held by the equity shareholders with the right to renounce.

The record date for the purpose of determining the name of equity shareholders of the Company eligible to apply for the Rights Equity Shares in the Rights Issue of the Company will be announced in due course along with the International Securities Identification Number (“ISIN”) of Rights Entitlements.

Payment Terms

On Application – Rs. 6.25 (Face Value – Rs. 1, Premium – Rs. 5.25)
First and Final Call – Rs. 6.25 (Face Value – Rs. 1, Premium – Rs. 5.25)

The Issue opens for subscription on Monday – August 30, 2021, and closes for subscription on Monday – September 13, 2021. The last date for On Market Renunciation of Rights Entitlements is Tuesday, September 07, 2021.

Shares of Scan point Geomatics Limited was last trading in BSE at Rs. 20 as compared to the previous close of Rs. 20. The total number of shares traded during the day was 8502 in over 50 trades.

The stock hit an intraday high of Rs. 20.4 and an intraday low of 19. The net turnover during the day was Rs. 167520.