Financial Daily from THE HINDU group of publications
Saturday, Jan 31, 2004
Financial Daily from THE HINDU group of publications Saturday, Jan 31, 2004 |
||
|
|
||
|
Corporate
-
Bonus Announcements Unichem moots 1:1 bonus; plans US subsidiary Our Bureau
Mumbai , Jan. 30 UNICHEM Laboratories Ltd has recommended a 1:1 bonus — one bonus equity share for every one held — for its shareholders. At its board meeting here on Friday, the company also decided to set up a wholly owned subsidiary in the US. According to a company communication, the board has approved the sub-division of equity shares from Rs 10 to Rs 5 each after the issue of bonus shares. It also approved the increase in authorised capital from Rs 25 crore to Rs 50 crore. The board has convened an extraordinary general meeting of its shareholders on February 29 to consider these issues, the company told BSE. Meanwhile, plans for the US subsidiary were to hasten the process of registration for its products, besides seeking opportunities for marketing alliances in the North American markets, the company said. The board also approved a stock option scheme for its eligible employees and the aggregate of equity shares, which would be offered under the scheme, shall not exceed five per cent of the enhanced equity capital of the company after the issue of bonus and stock split, the communication said.
More Stories on : Bonus Announcements
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|