Subway Finance AGM approves bonus issue in the ratio of 7:2

Subway Finance & Investment Company Ltd has announced that the members at the 23rd Annual General Meeting (AGM) of the Company held on September 29, 2006, inter alia, have approved the increase in Authorised Share Capital of the Company from Rs 25 lacs to Rs 1.15 Crores by creation of 9 lac new equity shares of Rs 10 each and consequent amendment in Memorandum & Articles of Association of the Company.

Issue of 8,57,500 Bonus Shares in the ratio of Seven (7) Equity Shares of Rs 10/- each against every Two (2) existing Equity Shares of Rs 10/- each fully paid up to the holders of existing equity shares of the Company whose names appear in the Register of Members of the Company on the Record Date as may be determined by the Board.

Source : Equity Bulls

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