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Moser Baer Board recommends bonus issue

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CIOL Bureau
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NEW DELHI: Moser Baer India Ltd has decided to issue Bonus Shares to its equity shareholders of the company in the ratio of one equity share for every two equity shares held by them, by capitalizing the reserves of the company.

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Board of Directors of the company at its meeting held on May 01, 2007, also decided to raise funds for its expansion plan through debt or equity.

They further decided that the company shall, subject to the approval of the shareholders of the company and such other approvals as may be required to be obtained in this regard, issue Global depository receipts or American depository receipts or equity shares through depository receipt mechanism or other financial instruments convertible into or linked to equity Shares for a value of upto 150 Million dollars.

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