Kirloskar Brothers Members Approve Stock Split
The members at the Annual General Meeting of the Kirloskar Brothers Ltd, held on July 16, 2005, have approved to sub-divide each of the equity share of the company.
Kirloskar Brothers Ltd has informed the Bombay Stock Exchange (BSE) that the members at the Annual General Meeting of the Company held on July 16, 2005, inter alia, have approved to sub-divide each of the equity share of the nominal value of Rs 10/- each fully paid in the capital of the Company into 5 equity shares of Rs 2/- each fully paid.
Furthermore the company announced the results of the meeting of the Board of Directors, meeting held on July 16, 2005.
1. To increase the authorised share capital of the Company from Rs 20 Crores to Rs 50 Crores. As a result, the revised Authorised share Capital of the Company will be Rs 50,00,00,000 (Rupees Fifty Crores Only) would be divided into 25,00,00,000 (Twenty Five Crores) Equity Shares of Rs 2/- (Rupees Two Only) each. Further, the related Clauses of Memorandum and Articles of Association of the Company will be amended, subject to the approval of shareholders.
2. To issue Two bonus equity shares of Rs 2/- each against existing One equity share of Rs 2/- each (after sub-division) to shareholders of the Company.
Further the Company has informed that for the approval of shareholders to the above proposals, Board has convened Extra Ordinary General Meeting on September 02, 2005.
Source: Kirloskar Brothers Limited