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Minda Industries Board approves Sub-division of Equity Shares

Minda Industries Board approves Sub-division of Equity Shares

Minda Industries Ltd has announced that the Board of Directors of the Company at its meeting held on June 28, 2016, has considered and approved the following matter(s), subject to final approval by the shareholders of the Company

 

Minda Industries Ltd has announced that the Board of Directors of the Company at its meeting held on June 28, 2016, from 11.30 am and concluded at 7.00 pm, has considered and approved the following matter(s), subject to final approval by the shareholders of the Company and any other statutory and regulatory approvals:

Sub-division (stock split) of equity shares of the Company. One Equity Share of the Company, having a face value of Rs. 10 each will be divided into five Equity Shares of face value of Rs. 2 each.

The Employees Stock Option Scheme (ESOS) 2016 - considering issue of 300000 options to the employees.

Board also approved the acquisition of Panasonic Minda Storage Batteries India Private Limited.

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