Infosys completes bonus issue of shares

Bangalore: Infosys Technologies today announced that it has completed all statutory formalities relating to the issue of bonus shares and the same have been credited to the shareholders account on July 6, 2004. About 99.50 per cent of the company's shares are held in demat form. The intimation to the shareholders about the credit of the bonus shares is being dispatched. The bonus shares in physical form and the necessary intimation is also being despatched to the shareholders holding shares in physical form.

The board of directors of Infosys at their meeting held on April 13, 2004, had recommended an issue of bonus shares on the company's equity shares in the ratio of 3:1, i.e. three additional equity shares for each existing equity share, by capitalising a part of the reserves. The board also announced the change in the ratio of American Depositary Shares (ADS) to domestic shares from 2:1 to 1:1. The company's members in the annual general meeting held on June 12, 2004 had approved the same. The record date for the bonus issue was July 2, 2004.

Consequent to the issue of bonus shares, the company's issues and outstanding equity shares as of July 06, 2004 would be 26,74,72,136 including 2,11,82,848 underlying equity shares representing 2,11,82,848 ADSs.