CNI Research Board recommends 1:2 Bonus Issue

CNI Research Ltd has announced that the Board of Directors of the Company at its meeting held on August 13, 2007, inter alia, has transacted the following:

1. The Board has recommended the issue of bonus shares in the ratio of 1:2 (1 share for every 2 shares held of the Company on the record date) subject to the approval of shareholders.

2. The Board has recommended the issue of 30 lac convertible warrants to the promoters of the Company at SEBI formula price or Rs 30/- each whichever is higher.

The stock closed the day at Rs.30.55, up by Rs.0.95 or 3.21%. The stock hit an intraday high of Rs.31.05 and low of Rs.29.50. The total traded quantity was 188901 compared to 2 week average of 106645.

Source : Equity Bulls

Keywords