Geodesic Information Board recommends bonus issue & final dividend

Geodesic Information Systems Ltd has announced that the Board of Directors of the Company at its meeting held on June 15, 2007, inter alia, has discussed and decided on the following:

1. Recommended final dividend @10% on equity shares of the Company.

2. Declared payment of dividend on preference shares.

3. Recommended increase of authorised capital by Rs 15 crore thereby resulting in the total authorized capital of Rs 35 crore.

4. Recommended issuance of bonus 1:2 to the shareholders if approved by the AGM.

5. Recommended raising funds through international offerings in one or more foreign markets, subject to the necessary approvals and regulations in the form of equity or instruments convertible into equity shares, subject to approval of shareholders in the ensuing AGM upto 150 mn USD.

6. AGM to be held on July 23, 2007.

Source : Equity Bulls

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