Mediaone Global Board recommends bonus issue & rights issue

Mediaone Global Entertainment Ltd has announced that the Board of Directors of the Company at its meeting held on August 14, 2007, inter alia, has recommended the following, subject to the approval of the members in the forthcoming Annual General Meeting of the Company:

1. Increasing the Authorised Capital from Rs 1 Crore to Rs 32 Crores.

2. Declaration of Dividend @ 6%.

3. Issue of Bonus Shares in the proportion of 5 equity shares for every 1 equity share.

4. Issue of Rights shares in the proportion of 5 equity shares for every 1 equity shares of Rs 10/- each at a premium of Rs 5/- per share.

5. Issuing of various securities such as FCD's, Debentures, by way of preferential allotment or by rights to the extent of Rs 96 Crores (24 million in US Dollars).

Source : Equity Bulls

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