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| Exchange Disseminated Time | Usha Martin Infotech Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on December 23, 2009, inter alia, to transact the following:
1. Reduction of (A) Securities Premium Account of Rs. 23,08,62,705/- (Rupees twenty Three Crore Eight Lakh Sixty-two Thousand Seven Hundred and Five only) as on March 31, 2009 to Rs. 1,20,249/- (Rupees One Lakh Twenty Thousand Two Hundred and Forty-nine Only);
(B) Capital Redemption Reserve of Rs. 5,00,00,000 (Rupees Five Crore only) as on March 31, 2009 in entirety; and (C) Equity Share Capital, presently comprising of Rs. 13,20,79,055/- (Rupees Thirteen Crore Twenty Lakh Seventy-nine Thousand and Fifty-five only) divided into 2,64,15,811 (Two Crore Sixty Four Lakh Fifteen Thousand Eight Hundred and Eleven) Equity Shores of Rs. 5/- (Rupees Five) each fully paid up to Rs. 2,64,15,811/- (Rupees Two Crore Sixty Four Lakh Fifteen Thousand Eight Hundred and Eleven only) divided into 2,64,15,811 (Two Crore Sixty Four Lakh Fifteen Thousand Eight Hundred and Eleven) Equity Shares of Re. 1/- (Rupee One) each fully paid up and that such reduction be effected by canceling Paid-up Equity Share Capital to the extent of Rs. 4/- (Rupees Four) per Equity Share and the same be utilized for setting off diminution in the value of investments amounting to Rs. 38,64,05,700/- (Rupees Thirty Eight Crore Sixty-four Lakhs Five Thousand and Seven Hundred only), subject to necessary provisions & approvals.
Resolve further that, pursuant to the provisions of Section 17, 94 and such other provisions of the Companies Act, 1956, and upon the reduction of Equity Share Capital of the Company becoming effective, the Authorized Capital be sub-divided from existing 4,00,00,000 (Four Crore) Equity Shares of Rs. 5/- each to 20,00,00,000 (Twenty Crate) Equity Shores of Re. 1/- each and 10,00,000 (Ten Lakh) Cumulative Redeemable Preference Shores of Rs. 50/- each and Clause V of the Memorandum of Association of the Company be altered and substituted by the, following Clause:
The authorized Capital of the Company is Rs. 25,00,00,000/- (Rupees Twenty Five Crores only) divided into 20,00,00,000 (Twenty Crore) Equity shares of Re. 1/- each and 10,00,000 (Ten Lakh) Cumulative Redeemable Preference Shares of Rs. 50/- each with power to sub-divide, consolidate and increase or decrease with power from time to time to issue any share of the original capital or any new capital and to divide the shares for the time being of the Company into several classes of stock of shares and to attach thereto respectively and preferential rights, privileges or conditions as may be determined by or in accordance with the regulations of the Company and to vary, modify or abrogate any such rights, privileges or conditions in such manner as may for the time being be provided by the regulations of the Company. |
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