Nandan Exim EGM approves bonus issue

Nandan Exim Ltd has announced that the members at the Extra-Ordinary General Meeting (EGM) of the Company held on December 30, 2006, have accorded for capitalization of a sum not exceeding Rs 15,18,30,188/- from the Securities Premium Account, General Reserves or any other permitted reserves / surplus of the Company for the purpose of issue of Bonus Shares of Re 1/- each, credited as fully paid up to the holders of the Equity Shares of the Company whose names shall appear on the Register of Members on the ‘Record Date’ determined by the Board or a Committee thereof for the purpose, in the proportion of 1 Bonus Share of Re 1/- for every 1 fully paid-up Equity Share of Re 1/- held by them and that the Bonus Shares so distributed shall, for all purposes, be treated as an increase in the paid up Capital of the Company held by each such Member, and not as income.

Source : Equity Bulls

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