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| Exchange Disseminated Time | | Hind Rectifiers Ltd has informed BSE that the Shareholders at the Annual General Meeting (AGM) of the Company held on August 25, 2008, inter alia, has decided to capitalize a sum of Rs 1,50,57,930/- (Rupees One Crore Fifty Lakhs Fifty Seven Thousand Nine Hundred Thirty Only) from the amount standing to the credit from the General Reserve Account as on March 31, 2008, and that accordingly, subject to the compliance of the relevant guidelines issued by Securities and Exchange Board of India (SEBI), a sum of Rs 1,50,57,930/- (Rupees One Crore Fifty Lakhs Fifty Seven Thousand Nine Hundred Thirty Only) be transferred to share capital and be set free for distribution as Bonus Shares and that accordingly it is hereby declared that such Bonus Shares of Rs 1,50,57,930/- (Rupees One Crore Fifty Lakhs Fifty Seven Thousand Nine Hundred Thirty Only) be applied on behalf of the members who, on a date to be fixed hereafter by the Board, shall be registered holders of the existing 7528965 fully paid Equity Shares of Rs 2/- each of the Company, in payment, in full for 7528965 new Equity Shares of Rs 2/- each to be issued out of the unissued Equity Share Capital of Rs 2/- of the Company and that such 7528965 new Equity Shares credited as fully paid up be accordingly allotted and distributed as Bonus Shares to such members respectively as aforesaid in the proportion of one such new Equity Share for every one Equity Share of the said existing 7528965 Equity Shares held by them respectively on the said date upon the footing that the new Equity Shares so distributed shall be treated for all the purposes as an increase of the nominal amount of Equity Capital of the Company held by each such Member and not as income, subject to necessary provisions & approvals. |
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