Tera Software Board recommends 20% dividend & 1:4 Bonus Issue

Tera Software Ltd has announced that the Board of Directors of the Company at its meeting held on August 28, 2006, inter alia, has considered and approved the following:

1. Recommended payment of dividend at 20% for the financial year 2005-2006 compared to 15% declared for the year 2004-2005.

2. Recommended issue of one Bonus share for every four shares held in the Company for the approval of members Credit of Bonus Shares would also be given to the warrant holders in the same ratio subsequent to their conversion of warrants as per Companies Act, 1956.

3. The Scheme of arrangement for de-merging Annaram land valued at RS 27.631 million subject to the approval of Stock Exchanges and other Statutory approvals.

Source : Equity Bulls

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