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| Exchange Disseminated Time | GI Engineering Solutions Ltd has informed BSE the Board of Directors of the Company at its meeting held on July 25, 2011, inter alia, has approved the following:
1. Reclassification of Share Capital:
The Board has approved reclassification of the present Authorised Share Capital of Rs. 8500,00,00,000/- (Rupees Eight Thousand Five Hundred Crores only) consisting of 850,00,00,000 (Eight Hundred and Fifty Crores only) Equity Shares of Rs. 10 each as 849,00,00,000 (Eight Hundred and Forty Nine Crores only) Equity Shares of Rs. 10/- each aggregating to Rs. 8490,00,00,000/- (Rupees Eight Thousand Four Hundred and Ninety Crores only) and 1,00,00,000/- (One Crore only) Preference Shares of Rs. 10/- each, whether Cumulative or Non-cumulative, aggregating to Rs. 10,00,00,000/- (Rupees Ten Crores only), subject to the approval of the shareholders at the ensuing Annual General Meeting.
2. Issue of upto 70,00,000 (4.5% Cumulative Redeemable Preference Shares of Rs. 10/- each)
The Board has decided to issue upto 70,00,000 4.5% Cumulative Redeemable Preference Shares of Rs. 10 each, subject to the approval of the shareholders at the ensuing Annual General Meeting. |
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