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| Exchange Disseminated Time | Signet Industries Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 08, 2010, inter alia, have accorded to the following:
1. The members of the Company accords their approval to increase the Authorized Share Capital of the Company from Rs. 5.00 crores divided into 50.00 Lacs Equity Shares of Rs. 10.00 each and Rs. 35.00 Crores divided into 3.00 Crores Equity Shares of Rs. 10.00 each and 50.00 Lacs 5% Non Cumulative Redeemable Preference Shares of Rs. 10.00 each.
2. The Members of the Company in furtherance to the above business gave their approval to alter the Clause V of the Memorandum of Association with respect to increase in Authorised Share Capital of the Company.
3. The Members of the Company consented to alter the 'Article No. 3' of Articles of Association of the Company in reference to the Share Capital of the Company.
4. The Members of the Company approved the Board of Directors' recommendation to capitalize the sum of Rs. 24,32,25,000.00 (Rupees Twenty Four Crores Thirty Two Lakhs Twenty-five Thousands Only) from the amount standing to the credit of Share Premium Account, General Reserve and balance out of Profit and Loss Account of the Company and to utilize the aforesaid sum towards issue of 5 (Five) fully paid Bonus equity shares ('Bonus Shares') of Rs. 10.00 (Rupees Ten only) each for every 1 (One) existing fully paid equity shares held in the Company.
5. The consent and approval of the Company has been accorded to the re-appointment of Shri Mukesh Sangla as Managing Director of the Company for a period of Five years from October 01, 2010 to September 30, 2015. |
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