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| Exchange Disseminated Time | Radix Industries (India) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 18, 2012, inter alia, has transacted the following business:
1. Effected Reduction of Capital by 90% and thereafter consolidated shares into Rs. 10/- each pursuant to the Composite Scheme of Arrangement whereby the Paid up share capital of the Company shall with effect from the appointed date (i.e.) April 01, 2010, stand reduced from Rs. 3,54,78,000/- (Rupees Three Crore Fifty Four Lakhs Seventy Eight Thousand Only) divided into 35,47,800 (Thirty Five Lakhs Forty Seven Thousand Eight Hundred Only) equity shares of Rs. 10/- (Rupees Ten Only) each to Rs. 35,47,800/- (Thirty Five Lakhs Forty Seven Thousand Eight Hundred Only) divided into 3,54,780 (Three Lacs Fifty Four Thousand Seven Hundred And Eighty) equity shares of Rs. 10/- (Rupees Ten Only) each.
2. Accordingly the Board Reissued 3,54,780 Equity Shares to the shareholders whose names appeared in the Register of Members as on the record date (i.e.) February 17, 2012.
3. Allotted 26,50,000 Equity Shares of Rs. 10/- each at par to the Unsecured Creditors by conversion of unsecured loan of Rs. 2,65,00,000/- pursuant to the Composite Scheme of Arrangement. |
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