Unitech splits equity, announces Bonus issue
Mumbai, May 12: Unitech Ltd has decided to split the existing one Equity Share of Rs 10 each into five Equity Shares of Rs 2 each and also issue Bonus shares in the ratio of 12 equity shares for every 1 Equity Share held.
A decision to this effect was taken by the company at its Board meeting today, said Unitech in a release issued to BSE.
Further, the Company has increased the Authorized Share Capital of the Company from Rs 35 crore divided into 2.50 crore Equity Shares of Rs 10 each and 10 lakh Preference Shares of Rs 100 each to Rs 210 crore divided into 100 Equity Shares of Rs 2 each and 10 lakh Preference Shares of Rs 100 each.
Along with the sub-division of equity share, the company is to issue Bonus Shares in the ratio of 12 Equity Shares for every 1 Equity Share held.
Further the Company has informed that the Board has also decided to convene an Extra Ordinary General Meeting (EGM) of the Company will be held on June 12, 2006, to seek shareholders consent for the aforementioned purpose.