Board of Shrenuj & Company approves bonus issue & recommends dividend

At meeting held on 23 May 2014

Shrenuj & Company announced that the Board of Directors of the Company at its meeting held on 23 May 2014, inter alia, has approved the issue of Bonus Shares in the ratio of One Equity Share for every One Share held.

The record date for the issue of Bonus Shares to the shareholders will be fixed after the approval of the issue of Bonus Shares by the shareholders of the Company through postal ballot in consultation with stock exchanges.

The Board has recommended final dividend for the financial year ended 31 March 2014, @ 60 paise per equity share of Rs 2 each on the Equity Shares pre-bonus.

While recommending the issue of Bonus Equity shares in the ratio 1:1, the Board decided that if the Bonus Equity Shares are issued prior to payment of dividend, the dividend post issue of Bonus Equity Shares would be 30 paise per equity shares of Rs 2 each instead of @60 paise per equity share of Rs 2 each noting that the issue and allotment of bonus shares is likely to be prior to the declaration/approval of dividend by the shareholders at the ensuing Annual General Meeting.

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