Thomas Cook (India) Ltd announces share split
Mumbai, February 26th, 2007: TCIL board which met here today, have proposed to split the companies share value from Rs 10 per share (Face Value) to Re 1 per share (Face Value) subject to the approval of the shareholders by postal ballot.
With this, the numbers of shares of the company will be 34.58 crore. However, the paid up capital of the Company stands unchanged at Rs 16.07 crore.
Commenting on the Company's decision to split the shares, Mr. Madhavan Menon, MD, TCIL, said "The Company's decision to sub divide the share would further increase the floating stock available in the market. We are confident that with this split, the liquidity of the stock would increase in the market and this would bring in benefit to the shareholders".
About Thomas Cook India:
Thomas Cook India offers a broad spectrum of leisure travel-related services such as package tours, currency exchange and travel insurance as well as hotel and flight reservations. Thomas Cook has been present in India for 125 years and operates a total of 200 offices at various locations in the country and has operations in Sri Lanka & Mauritius. It employs close to 3,000 staff and generated revenue of Rs. 142.1 crores (US$ 31.5 million) in the 2004/05 financial year. The company was acquired by Dubai Financial LLC at the beginning of the year.
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