Vipul EGM approves bonus issue, stock-split

Vipul Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on October 28, 2006, inter alia, have accorded to the following:

1. Sub-division of the existing one equity share of Rs 10/- into two equity shares of Rs 5/- each.

2. Increase in Authorized Share Capital from Rs 15 Cr. to Rs 50 Cr. divided into 10 Cr. equity shares of Rs 5/- each.

3. Issuance of Bonus shares (along-with sub-division) in the ratio of 1 equity share for every 1 equity share held.

4. Implementation Employee stock option scheme.

5. Issuance of equity shares under section 81(1A) of the Companies Act, 1956 on preferential allotment / Private placement basis upto 30 Lakhs equity shares of Rs 5/- each in one or more trenches.

Source : Equity Bulls

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