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| Exchange Disseminated Time | Ramco Industries Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the Company will be held on September 03, 2009 to transact the following:
1. To Sub-divide the Equity Shares and Increase the Authorised Share Capital of the Company.
(a) each of the existing Equity Shares in the Capital of the Company having a Face Value of Rs 10/- be sub-divided into 10 Equity Shares of Re 1/- each
(b) the Authorized Share Capital of the Company be increased from Rs 5,00,00,000/- (Rupees Five Crores) to Rs 20,00,00,000/- (Rupees Twenty Crores only).
(c) Clause V of the Memorandum of Association of the Company be altered as follows:
"The Authorised Share Capital of the Company is Rs 20,00,00,000/- (Rupees Twenty Crores only) divided into 20,00,00,000 (Twenty Crores) Equity Shares of Re 1/- (Rupee One) each".
(d) The Board of Directors or a duly constituted Committee of the Board be and is hereby authorized to do all such acts, deeds, matters and things and settle any technical / regulatory or other issues that may arise, including effecting any modification, if so required by any of the above-referred authorities, from time to time, to give effect to the proposal.
2. To Issue Bonus Shares:
(i) as recommended by the Board of Directors, a sum of Rs 4,33,31 530/- (Rupees Four crores thirty three lacs thirty one thousand five hundred thirty only) be capitalized from out of the amounts standing to the credit of the General Reserves of the Company and the said amount be applied for paying up in full at par 4,33,31,530 Equity Shares of Re 1/- each in the Capital of the Company to be allotted and distributed as fully paid Bonus Shares to the holders of 4,33,31,530 Equity Shares of the Company in the proportion of one Bonus Share for every fully paid Equity Share held by such Members as on a date to be determined by the Board of Directors of the Company.
(ii) the Board of Directors the Company (including a duly constituted Committee of the Board of Directors) be and is hereby authorized to accept and agree to such terms and conditions, if any required, as may be prescribed or stipulated by the authorities concerned for issue of Bonus Shares which the Board may, at its absolute discretion, think fit and proper to accept.
(iii) the Bonus Shares to be issued as fully paid Equity Shares as above are subject to the Memorandum and Articles of Association of the Company and shall rank pari-passu in all respects, with the existing Equity Shares of the Company, provided however that such new Equity Shares shall not be entitled to participate in any Dividend declared / to be declared for any period/s prior to the issue of the Bonus Shares, but shall be entitled to the Dividend/s declared after the allotment of the Bonus Shares. |
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