NIIT Board recommends bonus issue, stock split & dividend

NIIT Ltd has announced that the Board of Directors of the Company at its meeting held on June 05, 2007, inter alia, has approved the following:

1. Issue of Bonus shares in the ratio 1:2 i.e. one additional equity share for every two equity share held by the members on the record date to be fixed by the Board / its Committee, subject to the approval of members.

2. Sub-division of existing one Equity Share of Rs 10/- into five Equity Shares of Rs 2/- each, subject to the approval of members.

3. Consequent to above necessary amendments in the Memorandum and Articles of Association of the Company, subject to the approval of members.

4. Recommended a dividend @ 65% (Rs 6.50 per equity share on face value of Rs 10/- each) for the financial year 2006-07.

5. To convene the twenty fourth Annual General Meeting of the Members of the Company on July 25, 2007.

Source : Equity Bulls

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