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| Exchange Disseminated Time | | Visesh Infotecnics Ltd has informed BSE that the members of the Company in their Extra-ordinary General Meeting held on February 22, 2013 had considered and approved the Bonus issue ratio 1:10 i.e. 1 (One) Bonus Equity Share of Re.1/- (Rupee One) each for every 10 (Ten) fully paid-up Equity Shares of Re.1/- (Rupee One) each held after surpassing the Board’s recommendation of 1:3 i.e. 1 (One) Bonus Equity Share of Re.1/- (Rupee One) each for every 3 (Three) fully paid-up Equity Shares of Re.1/-(Rupee One) each held. In the meeting, shareholders opposed the Board’s recommendation to capitalize Reserves of the Company for issuance of Bonus Equity Shares in the ratio of 1:3 stating the reason that since the Company had already large Equity Capital base hence it would be difficult to service the equity shareholders of the Company and after due deliberations, the members had unanimously decided and approved to accept Bonus Equity Shares in the ratio of 1:10 by capitalizing a sum to the extent of Rs. 34,31,30,605/-. |
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