Board of Tide Water Oil approves sub-division of shares and bonus issue of 1:1

At meeting held on 10 June 2021

The Board of Tide Water Oil Co (I) at its meeting held on 10 June 2021 has approved the following -

- Sub-division of 34,84,800 ordinary shares of the Company having face value of Rs.5 each into 87,12,000 ordinary shares of face value of Rs.2/- each, subject to approval of the shareholders.

- Declared issue of bonus shares post sub-division of shares to the shareholders in the ratio of 1:1, subject to approval of the shareholders.

- Recommended final dividend of 4000% (Rs.200/- per share) on the ordinary shares of the Company of face value of Rs.5/- per share (i.e. before sub-division of shares and bonus issue) for the financial year 2020-21 subject to the approval of the shareholders in the ensuing 98th Annual General Meeting absorbing a sum of Rs.69.696 crore.

 

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