The Board of Directors of MIF Limited declared a bonus shares distribution equivalent to US$0.363 per share, representing a 10% increase over the bonus shares distribution of US$0.33 per share in 1997.
The Board took this action in view of the increase in per share earnings from US$0.77 in 1996 to US$0.90 in 1997 and the expectation that 1998 results will compare favorably with those of previous years.
The shares to be issued will be capitalized at US$16.50 per share and shareholders will receive 2.2 additional shares for each 100 shares held on the record date of June 5, 1998. The additional shares will be held and distributed on June 30, 1998.
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"The Board of Directors of MIF Limited granted the authority for the repurchase of up to 300.000 shares at prices up to $16.75 per share on or before December 31, 1998."
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