Oyo parent company PRISM unveils new inclusive bonus offer for all shareholders

Oyo parent company PRISM on Monday announced that it will soon introduce a new and simplified bonus structure that includes all shareholders, both equity shareholders, even with small holdings and CCPS holders, ensuring equal participation and transparency, following shareholder feedback.“We are not proceeding with the current resolution and will soon submit a new unified proposal for shareholder approval in accordance with the Companies Act, 2013. The revised structure will be announced in the coming days and will not require any application process,” a PRISM spokesperson said.

The company added that this decision reflects its commitment to governance-first growth, fairness and long-term value creation for all types of shareholders.

“The revised structure will reflect our belief that every shareholder deserves equal opportunity in PRISM’s next chapter of growth.” the spokesperson added.

According to the previously proposed bonus resolution, PRISM had announced a bonus issue linked to a potential IPO route for equity shareholders. The previous structure was designed to allow them to participate in the potential benefit through an opt-in process, but the new resolution will apply to all types of shareholders without requiring them to do so. This development follows the company’s recent announcement that the application deadline will be extended to November 9 and the participation process will be simplified.