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TMCNet:  J&K BANK BOARD GIVES NOD FOR 10:1 STOCK SPLIT

[June 17, 2014]

J&K BANK BOARD GIVES NOD FOR 10:1 STOCK SPLIT

(Indian Business Insight Via Acquire Media NewsEdge) The Board of Directors of J&K Bank Ltd has opted for a 10:1 stock split (10 shares of Re1 each for every one share of Rs10 held) at its meeting held on 12 Jun 2014. The decision of the board would be subject to approval of the shareholders at the Annual General Meeting of the bank scheduled to be held on 2 Aug 2014. At present, the Government of Jammu & Kashmir holds 53.17 percent stake in the bank, foreign institutional investors (FIIs) hold 28.77 percent, and the remaining 18.06 percent is held by other investors.


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