Cheviot Company has given approval to a proposal regarding issue of bonus shares.

The board of directors of the company at its meeting held today has recommended issuance of bonus shares, in the ratio of 1 fully-paid up bonus ordinary share for every existing 2 fully paid-up ordinary shares, of face value of Rs.10 each held by the shareholders of the company. Further, this bonus issue is subject to approval of the members of the company, at the upcoming annual general meeting.

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