National Aluminium Company (Nalco) has decided to go for capital restructuring by splitting a share of Rs 10 into two shares of Rs 5 each. The company, for the first time, approved 1:1 bonus, while taking into account the Q3 results in its board meeting held on January 31.
Nalco's paid-up capital of Rs 644.31 crore would stand enhanced to Rs 1,288.62 crore, without any cash consideration, once the board's resolution is endorsed by the shareholders in a meeting likely to be convened in March 2011. By amending the Article of Association, Nalco has created a provision for issue of ESOP (Employee Stock Ownership Plan) that is shares to its employees.
The ESOP is planned to be issued to the executives of the company as part payment of dues to them under performance related payment (PRP), a component of revised pay package. The detailed scheme of ESOP, including price, is yet to be finalized.
| Company Name | CMP |
|---|---|
| National Aluminium | 438.70 |
| Maan Aluminium | 144.15 |
| Arfin India | 94.47 |
| Manaksia Aluminium | 31.35 |
| PG Foils | 216.40 |
| View more.. | |
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