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ITC LTD. - Board recommends Bonus Issue
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20 May 2016
ITC Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 20, 2016, has recommended the following for the approval of the Members through Postal Ballot and e-voting:&lt;BR&gt;&lt;BR&gt;1. Issue of Bonus Shares in the proportion of 1 (One) Bonus Share of Rs. 1/- (Rupee One) each for every existing 2 (Two) fully paid-up Ordinary Shares of Rs. 1/- (Rupee One) each; the said Bonus Shares, if approved by the Members, will be credited or share certificates in respect thereof will be despatched, where shares are held in the dematerialised form and in the physical form, respectively, by July 19, 2016.&lt;BR&gt;&lt;BR&gt;2. Increase in the Authorised Share Capital of the Company from Rs. 1000,00,00,000/-(Rupees One Thousand Crores) divided into 1000,00,00,000 (One Thousand Crores) Ordinary Shares of Rs. 1/- each to Rs. 2000,00,00,000/- (Rupees Two Thousand Crores) divided into 2000,00,00,000 (Two Thousand Crores) Ordinary Shares of Rs. 1/- each.&lt;BR&gt;&lt;BR&gt;3. Consequential amendment to Article 4 of the Articles of Association of the Company to reflect the increased Authorised Share Capital of the Company.
View all announcements for ITC LTD. Source: BSE India