Deccan Chronicle Board approves stock split & declares interim dividend

Deccan Chronicle Holdings Ltd has announced that the Board of Directors of the Company at its meeting held on January 19, 2007, has transacted the following:

1. Sub-divided the equity shares of Rs 10/- each into 5 equity shares of Rs 2/- each and the Board further approved consequential amendments in the Memorandum and Articles of Association of the Company, all subject to shareholders approval. The Board decided to take the shareholders approval through postal Ballot and approved the notice along with explanatory statement to be sent to shareholders.

2. Declared an Interim Dividend of 50% for the FY 2006-2007.

3. Pursuant to the exercise of conversion rights by the Bond Holders 6750 FCCB’s were converted and 5,62,244 equity shares were allotted.

Source : Equity Bulls

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