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| Exchange Disseminated Time | Gandhi Special Tubes Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 25, 2008, inter alia, have accorded the following:
1. The existing 1,20,00,000 (One Crore Twenty Lacs) equity shares of Rs 10/- each be sub-divided into 2,40,00,000 (Two Crores Forty Lacs) equity shares of Rs 5/- each.
2. Existing Clause V of the Memorandum of Association of the company be hereafter replaced by the following Clause V:
a. The Authorised Share Capital of the Company is Rs 12,00,00,000 (Rupees Twelve Crore Only) divided into 2,40,00,000 (Two Crore Forty Lacs) equity shares of Rs 5/- (Rupees Five) each, with power to increase or reduce capital of the Company and to divide the shares in the capital for the time being into several classes and to attach thereto respectively such preferential, deferred, qualified or special rights, privileges and condition as may be determined and to vary, modify or abrogate, any such rights, privileges or condition in such manner as may be for the time being be provided by the Articles of Association of the Company.
The Company may, from time to time by passing such resolution as stipulated under the law, increase the Authorised Share Capital by such sum to be divided into shares of such amount as may be specified in the resolution subject to the provisions of Section 94 of the Companies Act, 1956.
3. Existing Article 3 of the Articles of Association of the Company be hereafter replaced by the following Article 3:
3. The Authorised share capital of the company is Rs 12,00,00,000 (Rupees Twelve Crore Only) divided into 2,40,00,000 (Two Crores Forty Lacs) equity shares of Rs 5/- each and the said capital may be increased, consolidated, decreased or divided in accordance with the Regulations of the Company and legislative provisions for the time being in force in that behalf and subject to the provisions of the Companies Act. The Company may issue Redeemable Preference Shares on such terms and conditions as it may deem proper. |
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