Financial Daily from THE HINDU group of publications
Friday, May 27, 2005
Financial Daily from THE HINDU group of publications Friday, May 27, 2005 |
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Markets
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Bonus Announcements GACL fixes June 25 as record date for bonus, stock split Our Bureau
Mumbai , May 26 GUJARAT Ambuja Cements has fixed June 25 as the recorddate for the purpose of issue of bonus shares and stock split. An extraordinary general meeting of the company on Thursday approved last month's decisions of the Board to split the stock as well as raise the authorised share capital of the company. The stock will be reduced to a face value of Rs 2 from the existing Rs 10.The bonus issue will offer one share for every two held. The authorised share capital of the company will be Rs 650 crore divided into 250-crore equity shares of the face value of Rs 2 each; and 15 crore preference shares of face value of Rs 10 each. The Memorandum of Association of the company is being altered accordingly. The existing share capital of the company is Rs 400 crore.
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