Magma Fincorp approves amendment of share entitlement ratios

Magma Fincorp has now informed that the board of directors of the company vide circular resolution passed on May 31, 2012 have approved the amendment to the share entitlement ratio for every 1 (one) fully paid up equity share of Rs 10 each held by shareholders in the company, one equity share of Rs 7 each will be issued and allotted in HPL' The scheme is subject to the consent or approval of the requisite majority of the shareholders, the High Court of Kerala at Ernakulam and other statutory or regulatory authorities, which by law may be necessary for the implementation of the scheme.

The above information is part of company’s filing submitted to the BSE.