Diamond Cables - Clarification on Bonus Issue

Diamond Cables Ltd has informed BSE that :

As per earlier Announcement dated March 06, 2009 for issue of bonus shares in the ratio of 1:3, the Company has not issued any bonus shares to the shareholders due to change in SEBI guidelines in respect of the time limit for issue of bonus shares from 6 months to 2 months. Afterwards, the Company applied for condonation of delay and extension of time to SEBI, but the same was not granted by SEBI.

Hence looking to the interest of the shareholders, the Board has reconsidered this matter to declare issue of bonus shares in the same ratio, i.e. 1:3 (One share for every three shares), which could not be materialized at that time due to the above mentioned reasons, subject to approval of the shareholders at the Extra Ordinary General Meeting to be held on November 21, 2009 as per existing SEBI guidelines.