India's Lanco Infratech seeks shareholder nod for stock-split

Posted on: Mon, 09 Nov 2009 03:09:00 EST


Symbols: LNIFF
MUMBAI, Nov 9, 2009 (Asia In Focus via COMTEX) --
LNIFF | Quote | Chart | News | PowerRating -- Indian engineering and
construction firm LANCO INFRATECH LTD (BSE:532778) on Friday
said it would seek shareholders' approval for a stock-split.
The shareholders would pass a resolution through postal ballot
to sub-divide each Rs 10 equity share into 10 shares of Re 1
each, Lanco Infratech informed the Bombay Stock Exchange in a
regulatory disclosure.

* The stock-split is expected to result in creating more
liquidity, less volatility and broadening of investor base, it
said.

* It would also seek shareholders' permission for the
required amendment in Clause V of the memorandum of Association
following the the sub-division of the equity shares, it said.

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