SRS: Board recommends Bonus Issue

SRS Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 11, 2015, have decided the following matters:

1. Considered and declared the Bonus Issue of Equity Shares to the existing shareholders in the ratio of 1:1, subject to the requisite approval of the shareholders and other competent authorities, and

2. To absorb the bonus issue, decided to increase the Authorized Share Capital of the Company from Rs.150 Crores to Rs.280 Crores.

by way of Postal Ballot in terms of Section 110 of the Companies Act, 2013 read with the Companies (Management and Administration) Rules, 2014.

For ascertaining the names of the Shareholders for dispatch of the Postal Ballot Notice, the Board has taken the cutoff date as May 08, 2015.