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Cranes to issue bonus shares in 1:1 ratio

The Economic Times  
Wednesday, 28 September 2005   

Cranes Software International Ltd today said it will issue bonus shares in 1:1 ratio and issue 12 lakh equity shares on preferential basis. The shareholders at the AGM have approved the issue of bonus shares in the ratio of 1:1 that is, issue of one share for every share held and split of equity shares of Rs 10 each into five shares of Rs 2 each, the company informed the Bombay Stock Exchange.

The AGM also approved the dividend of Rs 5 per share, including regular dividend of Rs 2 per share and special dividend of Rs 3 per share, it said. The company will issue equity shares of Rs 10 each on a preferential basis, at a price not less than Rs 900 per shares, up to 8 lakh equity shares to the promoters and up to 4 lakh equity shares to strategic investors, Spice One Colonizers Pvt Ltd, it added. The AGM also passed the resolution to increase in the authorized share capital of the company from Rs 22 crore to Rs 35 crore.


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