Hazoor Media to issue bonus shares

Mumbai-based Hazoor Media and Power Ltd has said it will issue bonus shares in the ratio of 1:1 to the shareholders.

City-based Hazoor Media and Power Ltd has said it will issue bonus shares in the ratio of 1:1 to the shareholders.

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At the meeting held Wednesday, the board of directors recommended the bonus issue, where equity shares of Rs 4 each would be issued for every equity share of Rs 4 each held in the company, Hazoor Media informed the Bombay Stock Exchange.

The record date for issue of bonus shares would be decided after obtaining shareholders approval, the company said.

The decision to allot 7.90 lakh equity shares of Rs 4 each fully paid up, upon conversion of an equal number of warrants, was also approved by the board on Wednesday.