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| Exchange Disseminated Time | Gangotri Textiles Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 25, 2005, inter alia, has decided the following:
1. Capitalization of Reserves to the tune of Rs 4,80,00,000/- by way of issue and allotment of 48,00,000 Equity Shares of Rs 10/- each by way of bonus share in the ratio of 1:1 on a date to be determined by the Board.
2. Conversion of the nominal value of the existing shares of Rs 10/- each into nominal value of Rs 5/- each.
3. Further issue of Equity Shares by way of Public Issue / Right Issue and / or by way Warrants at a price to be determined.
Further the Company has informed that in this connection an Extraordinary General Meeting of the Members of the Company will be held immediately after the conclusion of the 16th Annual General Meeting of the Company to be held on September 24, 2005 for getting approval of the members for the above subject. |
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