Oyo parent to revise bonus structure

Oyo parent Prism on Monday said it will shortly introduce a new and simplified bonus structure that covers both equity and compulsory convertible preference share (CCPS) holders, ensuring equal participation and transparency, following feedback from shareholders on its proposed bonus resolution. The company said the revised structure will be announced in the coming days and will not require any application process.

"We are not proceeding with the current resolution and will shortly bring a fresh, unified proposal for shareholder approval in accordance with the Companies Act, 2013," a Prism spokesperson said.

Prism had previously announced a bonus issue linked to a potential IPO pathway for equity shareholders. The earlier structure was designed to allow them to participate in the potential upside through an opt-in process.

The new resolution will be applicable to all classes of shareholders without requiring them to apply. It said the decision reflects commitment to governance-first growth, fairness, and long-term value creation for all classes of shareholders.

Source: EconomicTimes
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