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| Exchange Disseminated Time | PCS Technology Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 10, 2012, has approved and recommend the members to approve the following:
1. Re-classification of the Authorised Share Capital
The existing authorised share capital of Rs. 25,00,00,000/- (Rupees Twenty Five Crores only) divided into 2,50,00,000 (Two Crores Fifty Lakhs) Equity shares of Rs. 10/- (Rupees Ten only) each be re-classified into 2,10,00,000 (Two Crores Ten Lakhs) Equity shares of Rs. 10/- (Rupees Ten only) each and 40,00,000 (Forty Lakhs) Redeemable, Non Convertible and Non-Cumulative Preference Shares of Rs. 10/- (Rupees Ten only) each.
2. Issue of Redeemable, Non Convertible and Non-Cumulative Preference Shares
Pursuant to the provisions of Section 80, 81 and all other applicable provisions, if any, of the Companies Act, 1956 to create, issue, offer, allot and deliver in one or more tranches on a private placement basis not exceeding 40,00,000 (Forty Lakhs), 9% Redeemable, Non Convertible, Non-Cumulative Preference Shares of Rs. 10/- (Rupees Ten Only) each aggregating to nominal amount of Rs. 4,00,00,000/- (Rupees Four Crores only) for cash at a premium not exceeding Rs. 125/- (Rupees One Hundred Twenty Five only) per share, aggregating premium amount of Rs. 50,00,00,000 (Rupees Fifty Crores only) in total of Rs, 54,00,00,000/- (Rupees Fifty Four Crores only) to the Promoters and/or Promoter Companies of the Company subject to necessary provisions and approvals. |
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