Shri Bajrang Alloys Board approves bonus issue

Shri Bajrang Alloys Ltd has announced that the Board of Directors of the Company at its meeting held on December 09, 2006 has unanimously passed the following resolutions:

1. Capitalizing a sum of Rs 6,00,00,000/- out of General Reserve and Share Premium account and set free for distribution among the equity shareholders by issue of 60,00,000 equity shares of Rs 10/- each credited as fully paid to the equity shareholders in the proportion of 2 equity shares for every 1 equity shares held by them on the record date and that the such new shares, as and when issued and fully paid, shall rank pari passu with the existing equity shares.

2. Extra Ordinary General Meeting (EGM) of the members of the Company will be held on January 10, 2007 to consider the proposed capitalization of profits and issue of bonus shares.

Source : Equity Bulls

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