Coastal Corporation has informed that the Company has first announced Bonus Issue in the Board Meeting held on July 18, 2015. But, due to interpretation and applicability of the process relating to bonus issue, they again called for a Board Meeting on August 18, 2015 in order to discuss the mechanism relating to issue of Bonus Shares in detail. Accordingly, the Company has confirmed the procedure relating to Bonus Issue in the Board Meeting held on August 18, 2015. The Company has completed the allotment process within the stipulated period. Further, they have complied with stipulated requirements of the SEBI (ICDR) Regulations, 2009 and the Companies Act, 2013.
The above information is a part of company’s filings submitted to BSE.
