Bombay Swadeshi Board approves bonus issue / stock split

Bombay Swadeshi Stores Ltd has announced that the Board of Directors of the Company at its meeting held on November 18, 2006, has proposed a Bonus Issue of equity shares of the Company in the proportion of one equity share for every three equity shares held as on the Record Date to be determined.

The Board of Directors has also proposed that equity shares be split by reducing the face value of each equity share from Rs 10/- to Rs 2/-.

The above Issue as well as the split will be subject to the approval of the shareholders to be obtained at an Extra-ordinary General Meeting (EGM) to be convened for the purpose, as well as approvals of any other regulatory body that may be required to be obtained therefore.

Source : Equity Bulls

Keywords