Brightcom Group to apply for revocation of suspension for trading

14 Oct 2024 , 09:28 AM

The Brightcom Group said in its latest “weekly update” that it will file the revocation of trading suspension application within a day after revealing its most recent shareholding pattern.

Brightcom Group shares have been halted from regular trading for four months, keeping over 6.5 lakh small stockholders in the dark. They exclusively trade in the trade-for-trade segment and are classified as ‘Z’ equities, which trade only on Mondays.

The number of small retail shareholders could be greater because the shareholding pattern for the last two quarters has yet to be posted to the markets. The shareholding pattern for the June and September 2024 quarters is expected to be provided on Monday or Tuesday, subject to processing, according to the investors presentation.

Further commenting on the approaching Annual General Meeting (AGM), the group stated that the AGM notice would be handed out within the next 10 days, and that preparations are currently underway. It must be remembered that this AGM is for the fiscal year 2023.

“The NSE duties were likewise met this week. The Brightcom Group presentation stated that ongoing efforts are being made to ensure that compliance is routinely met.

Aside from compliance, the Brightcom Group stated that all other business efforts are on track with no substantial disruption. It is considering restructuring and work planning to alleviate the effects of the war in Israel.

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