Home breadcru News breadcru Company breadcru Rajesh Exports BoD approves Bonus Issue & Stock Split

Rajesh Exports BoD approves Bonus Issue & Stock Split

23 Oct '07
2 min read

Rajesh Exports Limited is a world leader in the manufacture, export and wholesale of gold and diamond jewellery.

At the meeting of the Board of Directors of the Company held the Board has, subject to the approval of shareholders of the company, decided to:
A) Issue 2 Bonus Shares for every 1 share held by the share holders (200% bonus).
B) Subdivide equity shares of Rs. 2 each to Re. 1 each.
C) Increase the authorized share capital of the company to Rs. 30 Crores

The Board has decided to convene an Extra Ordinary General Meeting to approve the above mentioned matters.

Mr. Rajesh Mehta, Chairman of Rajesh Exports Limited. said “The company is having very strong reserves and since the company is on a strong growth trajectory which can support an expanded capital, hence the Board felt the need to share the benefits with the Share Holders."

"The Board also felt the need of increased Share Holder participation which would be possible due to the split in the Face Value of the share from the existing Rs.2 to Re.1 each."

"The company has been consistently declaring 100% dividend. Apart from the dividend the company felt the need to further reward the Share Holders and hence the Board of the company proposed 200% bonus.”

Rajesh Exports Limited

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