Brazil's Lojas Renner proposes 5 for 1 stock split

martes 7 de julio de 2015 20:06 GYT
 

RIO DE JANEIRO, July 7 (Reuters) - The board of Lojas Renner SA, Brazil's fastest-growing major retailer, asked shareholders to approve a five-for-one stock split at an Aug 3 special general shareholders meeting, the company said in as securities filing on Tuesday.

Shareholders will also be asked to vote on stock-option and restricted-share plans as well as a proposal to incorporate 50 percent of the company's profit reserve to pay for expansion, the filing, signed by board chairman Osvaldo Schirmer, said. (Reporting by Jeb Blount; Editing by Cynthia Osterman)