Unitech Okeys 1:1 Bonus
As expected Unitech Okeys 1:1 Bonus, Stock may reach new highs in coming days.
News as follows:
Unitech Board recommends bonus issue & dividend
Unitech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 28, 2007, inter alia, has recommended a dividend of 25% i.e. 50 paise per share on equity shares of Rs 2/- each for the said year and has decided, interalia, and subject to approval of the shareholders, to:
1. Cancel the existing 10,00,000 preference shares of Rs 100/- each of Authorised Share Capital.
2. Increase the authorized Share Capital of the Company from Rs 2,00,00,00,000/ (after cancellation of said 10,00,00,000 preference shares) to Rs 5,00,00,00,000/.
3. Issue of Bonus Shares in the ratio of 1:1.
Any comments are welcome.
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