Tuesday, January 25, 2011

Shree Nath Commercial & Finance Board approves Bonus Issue

Shree Nath Commercial & Finance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 24, 2011, inter alia, has discussed and approved the following: -

1. Board has considered proposal to increase Authorised Capital from Rs. 6 crore to 12 crore and accordingly to alter Memorandum of Association and Article of Association, Subject to the approval of Members.

2. The Board has decided to Issue of Bonus shares in proportion of 1 Equity Share for every 1 Equity Share held by the member. (Ratio 1:1), subject to Members' approval.

3. The Board has decided to convene An Extra Ordinary General meeting on February 25, 2011.

Source: BSE Corporate Announcements