30 Apr 07 Sumeet Industries Bonus issue
The board of directors of Sumeet Industries, at their meeting held today, recommended a bonus issue of shares (also known as stock dividend) in the ratio of 1 : 10 (1 new share for every 10 shares held), to existing shareholders of Sumeet Industries as appearing in the company’s register of shareholders, on the record date, which will be announced in a few days time. The bonus issue will be made by capitalising the free reserves of Sumeet Industries.
The board of directors of Sumeet Industries has also decided to make preferential allotment of shares to relatives and associates of promoters or to strategic investors at a price of Rs. 20 per share.
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