25th-May-2012 16:07Source: BSE

BPCL - Board recommends Bonus Issue

Bharat Petroleum Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 25, 2012, inter alia, has recommended for the approval of Shareholders the issue of Bonus Shares in the ratio of 1:1 i.e. One new bonus equity share of Rs. 10/- each for every One equity share of Rs. 10/- held as on a Record Date to be fixed later for this purpose. The Company will seek the approval of the Shareholders through postal ballot process.

The Bonus Shares in the ratio of 1:1, after the approval of the Shareholders, would result in capitalization of a sum of Rs. 361, 54,21,240/-. Accordingly the Paid-up Equity Capital of the Company would stand revised to Rs 723.08 crore from the present level of Rs 361.54 crore.

The above Bonus Shares shall rank pari passu in all respects with the existing shares except that theses bonus shares shall not be eligible for dividend for the year ended March 31, 2012.