Thursday, 7 August 2014

Gujrat NRE issues bonus shares

Gujarat NRE Mineral Resources Limited

Bonus Issues (26.5.2013)
Board Recommends Bonus Shares (26.5.2013) 
Keeping with Gujarat NRE Group’s policy towards creating value for its investors, the Board of Directors proudly recommends issue of Bonus Shares in the ratio of 1:2 i.e. one equity share of Rs. 10/- each to be credited as fully paid-up for every two existing equity shares of Rs. 10/- each of the Company.
In the interest of the Company and its non-promoter shareholders, the promoter of the Company Mr. Arun Kumar Jagatramka, his family members and the entities belonging to the group, have decided to waive their respective entitlements to receive Bonus Shares as aforesaid. Accordingly, the Bonus Shares would be issued to non-promoter shareholders only. Consequently, post issue of Bonus Shares, the stake of the promoter group in the Company would come down from present 89% to around 82%.
The aforesaid recommendation of Bonus shares is subject to the shareholders' approval at the next Annual General Meeting of the Company to be held on 28th June 2013 and if approved, bonus shares would be issued to the members whose names appear as on the Record Date to be fixed by the Board at a later date.
OFCB holders to get Bonus Shares on conversion (26.5.2013)
The Board is pleased to extend the benefit of Bonus Shares (1:2) to the holders of Optional Fully Convertible Bonds (OFCBs) upon exercise of option of conversion of Bonds before 16.8.2013. Hence, on the conversion of One Bond of Rs. 30,000/-, the holder will get 3000 equity shares of Rs. 10/- each (2000 equity shares towards conversion and 1000 equity shares towards bonus) instead of 2000 equity shares.
Bonus Issues (23.06.2014)
The Board has recommended issue of Bonus Shares in the Ratio 1:5 i.e.; one bonus share for every five existing shares to the non-promoter shareholders for the approval of the shareholders at the next Annual General Meeting to be held on 23rd August 2014.

Sandip Ginodia , Director
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