NR International Board approves bonus issue

NR International Ltd has announced that the Board of Directors of the Company at its meeting held on January 31, 2007, inter alia, has taken the following decisions:

1. To transfer 70% of the accumulated profits as at March 31, 2006 amounting to Rs 1,72,99,807/- to the general reserve account.

2. The ratio of Bonus Issue will be 1:1 i.e. one new equity share for every one existing equity share.

3. To capitalize the full amount of share premium collected in cash amounting to Rs 300.00 Lacs and balance from the General Reserve account to the extent of the size of the Bonus Issue.

4. To enhance the authorized share capital of the Company from Rs 6.00 Crores to Rs 12.00 Crores by creation of 60,00,000 additional equity shares of Rs 10/- each.

5. To hold the EGM on February 28, 2007.

6. To obtain the in-principle listing approval of the existing stock exchanges Bombay, Ahmedabad, Kolkata & Bhubaneswar.

Source : Equity Bulls

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