To strengthen earlier findings on insider trading, cumulative returns before and after the announcements of the bonus issues are analysed.
The literature notes the signalling effect behind announcing bonus issues.
1998), 'An Empirical Analysis of Market Reaction around the Bonus Issues in India', www.
Analyst Peter Ashworth, of Charles Stanley in London, said the bonus issue
could draw attention to NWF and its strong growth.
It was decided to do another bonus issue
in 2005, and that is the issue you have in your hands.
25 /PRNewswire/ -- Telefonica's Board of Directors, at its meetings on the 24th and 25th of February, agreed to propose to the next Annual Shareholders Meeting a split by which the company's shares will have a nominal value of one euro each, as well as the continuation of the policy of bonus issues.
The first consists of an immediate bonus issue charged to freely disposable reserves, in the proportion of one new share for each 50 old ones, similar to the one carried out last December.
At a meeting with analysts and institutional investors, Villalonga said that at the same Board meeting, he will propose the company carry out the first of two bonus issues
which were approved at the annual shareholders meeting on June 24.
In addition, Multimedia World, with the enclosed TestDrive CD, will distribute 10,000 bonus issues
at COMDEX Fall 1993.
Enterra is also pleased to report that it has reached a settlement agreement with former officers of Enterra with regard to employment and bonus issues
, as previously announced on January 31, 2005.
This bonus circulation equates to a distribution of over 18,000 bonus issues to a voracious Mac community.
The projected bonus circulation for MacAddict's June BPA comes on the heels of an 8% bonus circulation from its last BPA statement in December of 1999, which comprised over 14,000 bonus issues.