Financial Daily from THE HINDU group of publications
Friday, Dec 17, 2004
Financial Daily from THE HINDU group of publications Friday, Dec 17, 2004 |
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Corporate
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Bonus Announcements Matrix Labs fixes record date, okays issue of 1:1 bonus Our Bureau
Hyderabad , Dec. 16 THE board of directors of Matrix Laboratories Ltd (MLL)at its meeting held here on Thursday has fixed January 20 as record date for sub-division of equity shares and bonus issue. In a communiqué to stock exchanges, the company said its board has also constituted a compensation committee for administration and superintendence of ESOP 2004 with three of its directors — Mr Puneet Bhatia as Chairman, and Mr C. Ramakrishna and Mr N. Prasad as members. Earlier, the shareholders of Matrix Labs at the 19th annual general meeting approved the resolutions for the issue of bonus shares in the ratio of 1:1 and sub-division of equity shares (stock split) into a face value of Rs 2 from the present face value of Rs 10. Addressing the shareholders at the AGM, the MLL Chairman and CEO, Mr N. Prasad, said the stock split would improve the liquidity of the equity shares of the company, besides being more accessible to the retail investors. He said for sustainable growth, the company would focus on intellectual property (IP) value creation both in active pharmaceutical ingredients and dosage forms, cost-effective and quality manufacturing strengths, strong marketing and contract manufacturing of formulations for regulated markets.
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