The board of Signet Overseas has recommended issue of fully paid up Bonus shares to the holders of the existing equity shares of the Company in proportion of 2 equity shares of Rs. 10 each for every 1 existing fully paid up equity shares of Rs. 10 each held subject to approval of the Shareholders in the General Meeting.
The board has also appointed Murali Chand Vashishta and Deepak Mehta as Additional Directors of the Company and accepted the resignation of Pankaj Kalani, Director.
The board has also recommended the change of name of the Company and to convene Extra Ordinary General Meeting of the Company on 30 November 2009 for Consideration of issue of Bonus Shares, Change of name and any other matter.
This was decided at the board meeting held on 22 October 2009.