DMC International Board recommends 1:1 bonus issue

DMC International Ltd has announced that the Board of Directors of the Company at its meeting held on May 14, 2007, inter alia, has taken the following major decisions:

1. The Board of Directors of the Company approved and recommended the issue of bonus shares to the shareholders of the Company in the ratio of one equity share for every one equity share held in the Company by capitalization of the Share Premium Account of the Company.

2. The Board discussed and approved in principal to merge M/s. Swen Realty and Media Ltd, a Delhi based Real Estate Company with the Company.

3. Approves the Draft Postal Ballot Form for amendment of object clause and commencement of the same.

4. Appoint Mr. Rajeev K Goel, FCS, LLB, Advocate as the scrutinizer for conduct of the above Postal Ballot procedures.

5. Appoint Mr. Sasi Bhusan Raju as the CEO of the Company.

Source : Equity Bulls

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