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| Exchange Disseminated Time | VMF Softech Ltd has informed BSE that the Board of Directors of the Company met on October 19, 2012, to consider and note the Final Court order passed by Hon'ble High Court of AP with regard to Scheme of Arrangement, since the same is effective from October 18, 2012, i.e. date of filing of court order along with Form 21 with ROC AP.
The Board had noted the Court Order and authorized Mr. Niranjan Chintam and Mr. Krishna Chintam, Directors either jointly or severally to do all such other acts in implementing the Scheme, including:
1. Reduction of Paid up capital of the Company from Rs. 92391000 to Rs. 46195500 by reducing the Par value of Equity shares from Rs. 10/- to Rs. 5/- each.
2. Amalgamation of Tekriti Software Pvt. Ltd with the Company and inconsideration thereof to issue 26250000 no. of Equity Shares of Rs. 5/- each of the Company to the share holders of Tekriti Software Private Limited.
3. To Change the name of the Company to Kellton Tech Solutions Limited, and the Company is in the process of completing other formalities with ROC, in obtaining new Certificate of Incorporation.
4. To implement all other clauses of the Scheme, as may be applicable. |
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