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| Exchange Disseminated Time | P M Strips Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 02, 2010, inter alia, has considered and approved the following:
1. Subject to the approval of the members, the Authorized Share Capital of the Company will be increased from Rs. 2 crore to Rs. 15 crore and consequent amendment to the Memorandum and Articles of Association.
2. Subject to the approval of members, takeover of M/s. Mentor Minds Solutions and Services Pvt. Ltd and M/s. Mentor Minds Solutions and Services Inc. USA by acquiring 100% of the paid-up Capital consisting of 76,587 Equity shares of Rs. 100/- each and 10,00,000 Equity shares of US $ 1 each respectively.
3. Subject to the approval of the members, the Company will issue 39,94,161 Equity shares of Rs. 10/- each at a premium of Rs. 21/- per share to the shareholders of the above mentioned Companies.
4. To seek the approval of the members under section 372A of the Companies Act, for the acquiring of the shares of the above Company. |
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