Subex Systems announces 1:1 bonus

Subex Systems Ltd., a telecom software transnational, has announced that it

will issue bonus shares on a 1:1 basis. The decision was taken at its recently

concluded AGM in Bangalore. The shareholders also approved an enhancement in the

company’s authorized share capital from Rs 5 crore to Rs 20 crore and the

induction of V Balaji Bhatt on its board.

Subex managing director Subash Menon said, "With the acquisition of a US

company and globalization of Subex’s operations, it is essential to widen the

perspective of the Board and induct accomplished functional specialists. This is

also a step towards improved corporate governance."

Subex had earlier reported a whopping 390 per cent increase in its net profit

for the financial year ended March 31, 2000 at Rs 502 lakh (Rs 102.52 lakh in

1998-99). Its revenues for the year increased by 166 per cent to Rs 31.59 crore

(Rs 11.83 crore). With the announcement of bonus shares, the company’s equity

base stands enhanced at Rs 7.12 crore. Subex has announced a dividend of 40 per

cent, which includes a 35 per cent interim and a 5 per cent final dividend (30

per cent).