Minal Industries Ltd: Updates on face value of Bonus shares

With reference to the declaration of bonus shares, Minal Industries Ltd has clarified to BSE that the bonus issue was decided in the month of July 2010 but the procedure was not completed within two months from the date of declaration of bonus shares and the face value of the shares at the time of declaration of bonus shares was Rs. 10/-. The bonus issue was in the ratio of 2 new shares against the 3 existing equity shares. The reconfirmation of bonus and finalization of record date are under progress hence the shares were not subdivided. The Company is going to issue equity shares of Rs. 10/- each as bonus shares and the subdivision of shares will be done afterwards.