Neueon Towers Limited — Dividend/Bonus, 25-11-2024: Record Date

Neueon Towers Limited has fixed the record date for capital restructuring as December 6, 2024. The plan entails reducing the face value of equity shares from Rs. 10 to Rs. 1, leading to a post-reduction share capital of Rs. 56.54 crore with approximately 5.65 crore shares outstanding. Additionally, the entire cumulative redeemable preference shares capital of Rs. 1.26 crore will be fully extinguished. After the restructuring, public shareholding will drop to about 10%, as 90% will be allocated to the resolution applicant and its nominees. The restructuring is part of an approved resolution plan by the NCLT.