Pondy Oxides Board approves Bonus Issue

Pondy Oxides & Chemicals Ltd has announced that the Board of Directors of the Company at its meeting held on October 04, 2006, has approved the following:

1. Issue of Bonus shares to the equity shareholders of the Company and the quantum of bonus will be decided by the Board prior to the Extra Ordinary General Meeting of the shareholders to be held in due course.

2. Considered and approved the purchase of land and building and plant and machinery for refining of Zinc Metal from M/s. Fidelity Enterprises Pvt Ltd of Thiruvallur, Dist. Tamil Nadu having capacity and CPCB License for 4000 MT per annum and authorized the Managing Director to take follow up action in this regard.

3. Noted and recorded the construction of building and erection of machineries for Lead Smelter and Compound Plant and noted the inauguration scheduled on October 05, 2006.

Source : Equity Bulls

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