NR International to allot 1:1 bonus shares, amalgamate Shree Maruti Steels

NR International Ltd has announced that the Board of Directors of the Company at its meeting held on April 24, 2007, has taken the following major decisions:

1. Approved the Scheme of Amalgamation of M/s. Shree Maruti Steels & Castings Pvt Ltd with the Company.

2. In terms of resolution passed at the EGM dated February 28, 2007, the Board has decided for allotment of 50,89,060 Nos of equity shares @ Rs 10/- each as Bonus Shares at the ratio of 1:1 which will rank pari passu in all respects and carry the same rights as the existing Equity Shares and shall be entitled to participate in full in any dividends declared by the Company after this proposed Bonus Shares are allotted.

Source : Equity Bulls

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