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| Exchange Disseminated Time | Man Infraconstruction Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 25, 2014, inter alia, has approved :
1. Sub-division of 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each into 5 (Five) Equity Shares of face value of Rs. 2/- (Rupees Two Only) each and consequent amendment to the Capital Clause of the Memorandum of Association of the Company, subject to approval of shareholders.
2. Postal Ballot Notice along with Calendar of Events for seekIng approval of members for;
- AuthorizIng Board of Directors u/s 180(1)(c) of the Companies Act, 2013 to borrow monies in excess of aggregate paid-up share capital and free reserves of the Company;
- Authorizing Board of Directors u/s 180(1)(a) of the Companies Act, 2013 for creation of mortgage, charge, hypothecation, lien and other encumbrances;
- Authorizing Board of Directors u/s 186 of the Companies Act, 2013 to invest or to provide loans and advances or give guarantees/ securities up to 100% of free reserves and securities premium account or Rs. 900 Crores, whIchever is higher;
- Sub-division of each Equity Share of Rs. 10/- into 5 Equity Shares of Rs. 2/- each fully paid-up and consequent amendment to the Memorandum of Association of the Company.
3. Declaration of an Interim Dividend of Rs. 1.35 per share (Rupee One and Paise Thirty Five Only) (i.e. 13.5%) on 4,95,00,054 Equity Shares having Face Value of Rs. 10/- each, for the financial year 2014-15. |
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