Marico Board approves stock split

Mumbai, Jan 12 (UNI) The Board of Marico today approved the split of its stock from the equity shares of the nominal value of Rs 10 each to nominal value of Re 1 each.

Informing the BSE, the company said it would carry out the consequent amendments to the Memorandum and Articles of Association of the Company -- subject to shareholders approval -- to facilitate the stock split and financial restructuring through adjustment of intangible assets against Special Reserves (Securities Premium Account and Capital Redemption Reserve Account) as required in the Companies Act provisions.

UNI