CAL Bank Limited has announced a Bonus Issue for its shareholders in a ratio of one (1) new share for every seven (7) existing shares held.

The Bank has secured approval from its shareholders to transfer a sum of Three Hundred Million Ghana Cedis (GH¢300,000,000.00) from income surplus to stated capital to enable it attain the new regulatory minimum capital of Four Hundred Million Ghana Cedis (GH¢400,000,000.00). As a result of the capital transfer, the Bank could not pay dividend to its shareholders for FY2017. The Bonus Issue is therefore a compensation to the shareholders for the cash dividend forgone.

Shareholders registered in the books of CAL at the close of business day on Wednesday, June 6, 2018 will qualify for the Bonus Issue. To this end, the ex-bonus date has been set on Monday, June 4, 2018. In this regard, any investor who buys shares in CAL on or after Monday, June 4, 2018 will not be entitled to the Bonus Issue. Allotment of shares from the Bonus Issue to qualified shareholders registered on the Central Securities Depository (CSD) is set on Wednesday, June 13, 2018. Shareholders without CSD accounts will be sent allotment letters on Friday June 22, 2018.