Sun TV Board recommends stock split

The Board of Directors of Sun TV Ltd at its meeting held on April 05, 2007 has recommended the following items to be passed through postal ballot:

1. Sub-Division of equity shares from face value of Rs 10/- each to Rs 5/- each in the ratio of two shares for every one share held.

2. Increase of Authorised Share Capital from the present level of Rs 100 Crores to Rs 225 Crores in order to accommodate the fresh issue of shares consequent to the merger, to comply with continuous listing guidelines under clause 40 (A) of the Listing Agreement and capitalization of reserves in future, if any.

3. Enhancing the existing permissible limit for investments, loans, security /guarantee etc., and also enhancing the borrowing limit.

4. Regrouping, renumbering and amendment of Main Object Clause.

Shares of Sun TV were trading at Rs.1530, up by Rs.30.85 or 2.06%. The total traded quantity was at 29501 shares compared to 2 week average of 14867.

Source : Equity Bulls

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