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| Exchange Disseminated Time | LGB Forge Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 06, 2010, inter alia, have accorded the following:
1. Authority to the Board to create, offer, issue and allot 6 (six) shares of Re. 1/- each @ Rs. 2.58 per share for cash being the price which is in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulation, 2009 as amended from time to time to be allotted on preferential allotment basis to
Name of the Allottee : M/s. LG Sports Ltd.
Category : Promoters & Promoters Group
No. of Shares to be allotted : 06
2. The existing clause V of the Memorandum of Association be deleted and the following new clause V be substituted thereof
The Authorized Share Capital of the Company is Rs. 12,00,00,000/- (Rupees Twelve Crores Only) divided into 1,20,00,000 (One Crore and Twenty Lakhs) Equity shares of Rs. 10/- (Rupees Ten Only) each subject to be increased, decreased, consolidated, sub-divided or otherwise dealt with AND with such preferential, qualified or special rights or privileges conferred on them subject to the provisions of Companies Act, 1956 and other applicable statutory regulations including Listing Agreement and ("SEBI") Securities Exchange Board of India regulations.
3. The existing Article 4 of the Articles of Association be deleted and the following new Article 4 be substituted thereof: -
The Authorized Share Capital of the Company is Rs. 12,00,00,000/- (Rupees Twelve Crores Only) divided into 1,20,00,000 (One Crore and Twenty Lakhs) Equity shares of Rs. 10/ - (Rupees Ten Only) each subject to be increased, decreased, consolidated, sub-divided or otherwise dealt with AND with such preferential, qualified or special rights or privileges conferred on them subject to the provisions of Companies Act, 1956 and other applicable statutory regulations including Listing Agreement and ("SEBI") Securities Exchange Board of India regulations.
4. Accorded to the Consolidation of the Equity Share Capital of the Company by increasing the nominal value of Equity Shares from Re. 1/- (One) each to Rs. 10/- (Ten) each so that every 10 (Ten) Equity Shares with a nominal value of Re.1/- each held by a Share Holder are consolidated into 1 (One) Equity Share with a nominal value of Rs.10/- each and such consolidation shall take effect from the date to be decided by the Board of Directors of the Company or of a Committee there of, subject to necessary provisions & approvals. |
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