OREANDA-NEWS. March 5, 2011. For the first time National Aluminium Company Limited (NALCO), the Navratna PSU, has decided to go for capital restructuring by splitting the equity share of Rs.10 into two equity shares of Rs.5 each. The Company approved 1:1 bonus, that is one bonus share for each share held. The decision was endorsed in an Extraordinary General Meeting of its shareholders held here today.

“By enhancing the number of shares and reducing the price for each share, the float and liquidity of the share shall be enhanced in stock exchanges,” says Mr B.L. Bagra, Director (Finance) cum CMD I/c of NALCO.

“This is also expected to increase the total market capitalization and enhance value to the shareholders,” Mr Bagra added.

NALCO’s paid-up capital of Rs.644.31 crore now stands enhanced to Rs.1288.62 crore, without any cash consideration.

The Company has also decided to amend the Article of Association, to make a provision for issue of Employees Stock Options (ESOP), 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 however yet to be finalized.