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Written by: Staff

Mumbai, June 7 (UNI) Engineering and construction major, Larsen&Toubro (L&T) has declared a 1:1 bonus issue to its existing shareholders.

Informing this, the company said a decision to this effect was made by the board at its meeting today. The last issue of bonus shares in the ratio of 3:5 was declared in 1986.

Shares that may be allotted on exercise of options granted under the Employee Stock Option Scheme as also on conversion of outstanding Foreign Currency Convertible Bonds before the Record Date will be entitled to receive the bonus shares.

Suitable adjustments will be made to the outstanding Employee Stock Options and Foreign Currency Convertible Bonds.


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