Sundram Fasteners calls for EGM to approve bonus issue

Sundram Fasteners Ltd has announced that an Extra-Ordinary General Meeting (EGM) of the members of the Company will be held on November 30, 2006, inter alia, to transact the following:

1. Capitalization of a sum not exceeding Rs 10,50,64,185 from the General Reserve and accordingly the said sum be capitalized and distributed amongst the holders of the existing equity shares of the Company, whose names stand on the Register of Members / Beneficial Owners on such date as may be fixed by the Board of Directors in that behalf as Record Date, on the footing that they become entitled thereto as capital and not as income and that the same be not paid in cash but be applied on behalf of such shareholders as aforesaid in paying up in full at par 10,50,64,185 new equity shares of Re 1 each to be allotted, distributed and credited as fully paid-up amongst the said shareholders in proportion of one new equity share for every existing equity share held by them.

2. Alteration in the Articles of Association of the Company.

Source : Equity Bulls

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