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Friday, Jan 30, 2004

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Ashok Leyland plans stock split

Our Bureau

Chennai , Jan. 29

ASHOK Leyland Ltd has informed the Bombay Stock Exchange that it proposes to "subdivide the equity shares of the company from the present face value of Rs 10 each to a lower face value."

The proposal, if approved by the board, will be placed before the shareholders for their approval in the extra ordinary general meeting to be held on February 28.

The board will also consider a proposal to approve reverse fungibility of the shares converted out of the GDRs issued in 1995, Ashok Leyland has said.

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