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| Exchange Disseminated Time | Cinevistaas Ltd has informed BSE that the members at the 10th Annual General Meeting (AGM) of the Company held on September 25, 2007, inter alia, have accorded to the following:
1. Adoption of the Audited Accounts of the Company for the year ended March 31, 2007, together with the Directors Report and the Auditors Report thereon.
2. Re-appointment of Smt. Sulochana Talreja as a Director of the Company.
3. Re-appointment of M/s. Vimal C Punmiya & Company, Chartered Accountants, as Statutory Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
4. Each of the 1,20,00,000 equity shares of the nominal value of Rs 10/- each in the authorised share capital of the Company be sub-divided into 60,000,000 equity shares of Rs 2/- each and alternation in Clause V (being Capital Clause) of the Memorandum and Articles of Association of the Company relating to equity shares.
5. Increased the Authorized Share Capital of the Company from Rs 12,00,00,000 (Rupees Twelve Crores Only) to Rs 20,00,00,000 (Rupees Twenty Crores Only) divided into 10,00,00,000 (Ten Crore) Equity Shares of Rs 2/- (Rupees Two Only) each and consequently the existing Clause V of the Memorandum of Association of the Company be and is hereby altered by deleting the same and substituting in its place and instead thereof, the following as new Clause V:
"The Authorized Share Capital of the Company is Rs 20,00,00,000 (Rupees Twenty Crores only) divided into 10,00,00,000 (Ten Crore) Equity Shares of Rs 2/— (Rupees Two Only) each with the rights, privileges and conditions attaching thereto as may be provided by the Articles of Association of the Company for the time being, with power to increase and reduce the Capital of the Company and to divide the shares in the capital for the time being into several classes and to attach thereto respectively such preferential, deferred, guaranteed, qualified or special rights, privileges and conditions as maybe determined by or in accordance with the Articles of Association of the Company and to vary, modify, amalgamate or abrogate any such rights, privileges or conditions in such manner as may for the time being be provided by the Articles of the Company."
6. Authority to the Board to offer, reissue and allot, the forfeited Shares to the Original shareholders / allottees (who after the IPO, failed, to remit the balance allotment / call money, consequent to which their Shares were forfeited, the list of which has already been submitted to the Stock Exchanges of the Board). The sizes of the offer shall be not over 100 shares each to the original shareholders at a price of Rs 67/-, calculated as prescribed by the Stock Exchange in this regard. |
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