HCL Technologies to give 1:1 bonus

Mumbai, Dec 14 (UNI) The Board of HCL Technologies at its meeting today recommended a 1:1 bonus issue, subject to shareholders approval.

Announcing this, the Company told BSE that the paid-up share capital of HCL Technologies is Rs 64.69 crore (comprising 323,442,350 equity share of Face Value of Rs 2/- each) and the Company has Reserve&Surplus of Rs 2511.18 crore as on June 30, 2006.

It was listed in January 2000 and had earlier undertaken 1-for-1 stock split in December 2000.

Commenting on the bonus, Mr Shiv Nadar, Chairman&CEO of the Company said''HCL believes in investor friendly policies. For the last 15 quarters we have been following a high dividend policy. The current bonus issue is a reaffirmation of the policy of rewarding our shareholders, and this is expected to enhance liquidity of the stock and broaden our investor base.'' Further, the Company Board has recommended issue of bonus shares for the approval of the shareholders by way of postal ballot and by way of capitalization of amount standing to the credit of Securities Premium Account.

It also recommended increase in authorised share capital from Rs 125.45 crore to Rs 150.00 crore and consequential alteration in the Memorandum&Articles of Association of the Company.

UNI SN OBB AG1735