NMDC Board approves Bonus Issue & Stock Split

National Mineral Development Corporation Ltd (NMDC) has informed that the Board of Directors of the Company at its meeting held on December 27, 2007, has approved the following subject to the approval of the General Body of the Company:

1. Issue of Bonus Shares by NMDC in the ratio of two shares for every one share held in the Company.

2. Splitting of Shares of Rs 10 each into ten shares of Re 1 each.

3. Enhancement of the paid-up equity capital of NMDC from Rs 150 crore to Rs 400 Crore.

4. Amendment of the Memorandum and Articles of Association of the Company to give effect to the increase of Authorised Capital, splitting of shares and capitalization of reserves to facilitate issue of bonus shares.