COMMUNIQUE

 

 


Notice is hereby given that at a Special Meeting of shareholders of the MAURITIUS UNION ASSURANCE CO. LTD. held on 15th November, 2005, the shareholders have considered and approved the following

 

ORDINARY RESOLUTION:

 

“It is resolved that a sum of Thirty Nine Million Five Hundred and Ninety Seven Thousand Rupees (Rs39, 597,000) be capitalized and debited to the Share Premium Account in the books of the Company and a sum of Twenty Seven Million Two Hundred and Three Thousand Rupees (Rs27, 203,000) be capitalized and debited to the Revaluation Reserve in the books of the Company thereby increasing the stated capital of the Company from One Hundred and Thirty Three Million Six Hundred Thousand Rupees (Rs133, 600,000) to Two Hundred Million Four Hundred Thousand Rupees (Rs200,400,000). The Directors are hereby authorized and directed to apply the said total sum of Sixty Six Million Eight Hundred Thousand Rupees (Rs66, 800,000) as a Bonus Issue. Six Million Six Hundred and Eighty Thousand ordinary shares (6,680,000) shall be allotted and distributed, credited as fully paid-up, to and amongst shareholders in the proportion of One (1) share for every Two (2) shares held by them on 2nd December, 2005 and such shares shall be issued upon such terms that the same shall rank in all respects “pari passu” with the existing ordinary shares in the capital of the Company."

 

 

The Timetable in respect of the Bonus Issue, which has been approved by the relevant authorities, is as follows:

 

First Cum-bonus trading session

 

: 16th November 2005

Last day to deposit existing share certificates at CDS for 1st day of trading of new ordinary shares

 

: 25th November 2005

Last Cum- Bonus trading session

 

: 29th November 2005

Ex -Bonus

 

: 30th November 2005

Close of books (Record Date)

 

: 2nd December 2005

First day for trading of new shares

: 9th December 2005

 

By order of the Board

Corporate and Secretarial Services Centre Ltd.                                           15th November 2005

Secretary

 

This communiqué is issued pursuant to Listing Rule 11.3

 

The Board of Directors of the MAURITIUS UNION ASSURANCE CO. LTD. accepts full responsibility for the accuracy of the information contained in this communiqué