Board recommends Bonus Issue

Power Finance Corporation Ltd has informed BSE that the Board of Directors of the Company at it meeting held on July 14, 2016 and concluded at 2.15 P.M, subject to the approval of the shareholders, has approved increase in the authorized share capital of the Company from present Rs.2,000 Crore (Rupees two Thousand Crores) divided into 2,00,00,00,000 (Two Hundred Crores) equity shares of Rs. 10 (Rupees Ten) each to Rs. 10,000 Crores (Rupees Ten Thousand Crores) divided into 10,00,00,00,000 (One Thousand Crores) equity shares of Rs. 10/- (Rupees Ten) each and corresponding amendment in the capital clause of Memorandum of Association of the Company.

In its said meeting, the Board of Directors has also recommended to the shareholders to approve issuance of Bonus Shares by capitalizing the "Securities Premium Account" at the forth coming AGM, to the extent that the holder of each share of the Company shall he entitled to one bonus shares (i.e. in the ratio of 1:1).

Source : BSE - >www.bseindia.com

Published on July 14, 2016
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