VSNL to consider revision of Bonus Ratio

Videsh Sanchar Nigam Limited (VSNL) has informed BSE that the Government of India has come out with a policy on licensing for Domestic Long Distance Services (DLD). One of the criteria for DLD license is to have a paid-up capital of not less than Rs 2500 million. An emergency Board Meeting has been convened on August 25, 2000 to consider various options to raise paid up capital to this level including proposing to shareholders resolutions regarding increase in Authorised Capital of the company from Rs 1000/- million divided into 100/- million divided into Rs 10/- each to any appropriate amount and issue of Bonus shares at a higher rate than already approved. The Board of Directors of Videsh Sanchar Nigam Ltd. in their meeting held on July 27,2000 had approved recommending to shareholders resolutions regarding increase in Authorised Capital of the company from Rs 1000 million (divided into 100 million shares of Rs 10/- each) and Issue of shares at the rate of one new share for each existing share.

Silverline to consider acquisition of shareholding of a US based software company

The Board of Directors of Silverline Technologies Ltd. will meet on August 28, 2000 in the US interalia to: 1. Consider acquisition of the entire shareholding of a US based software company 2. Consider the mode of settlement of the purchase consideration for the proposed acquisition 3. Consider increase in the Authorised Share Capital of the company 4. Consider further issue of shares under an Employee Stock Option Plan for India based employees and an ADR linked Stock Option Plan for employees of subsidiary companies.

GKW seeks approval to transfer its divisions to separate companies

GKW Ltd. has filed a scheme of arrangement in the Honourable High Court, Calcutta for its approval for the transfer of the company's Bolt & Nut Division, Steel Division, Engineering & Machinery Division and Sankey Electrical Stampings Division (ARW Divisions) at Andul Road, Howrah, West Bengal to a separate company and also Wheels Division of the company at Durgapur to a separate company.

Sundram Fasteners introduces a 5 day week at its plant

Sundram Fasteners Ltd. has informed BSE that, due to low sales demand the company has introduced a 5 day working week at its fasteners plants at Padi and Krishnapuram from first week of August, 2000.

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