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| Exchange Disseminated Time 26/06/2018 08:28:02 | Karur Vysya Bank Ltd has informed BSE that the Board of Directors of the Bank, at their meeting held on June 25, 2018 has
decided as follows:
- Issue of Bonus Shares in the ratio of 1:10 i.e. one equity share of Rs. 2/- each for every ten fully paid up equity shares held as on a record date, subject to approval of the shareholders of the Bank. The Record Date will be determined by the Board of Directors after members of the Bank approve the capitalisation programme for issuing bonus shares. Necessary in-principle approval of Stock Exchange will be obtained. The proposal of issuance of Bonus Shares was not part of the original agenda for the Board Meeting held on June 25, 2018 and was decided during the course of the meeting.
Further the Board of Directors decided to include capitalizing securities premium A/c for the above Bonus Issue as one of the Agenda Items in the Notice of the ensuing Annual General Meeting of the Bank to seek the approval of the shareholders by way of ordinary resolution. |
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