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| Exchange Disseminated Time | BLB Ltd has informed BSE that the members at the 26th Annual General Meeting (AGM) of the Company held on September 28, 2007, inter alia, have accorded the following:
1. Reduction in the authorized share capital of the Company by canceling the un-issued equity share capital of Rs 2,50,00,000/- divided into 2,50,00,000 equity shares of Rs 1/- each appearing in the Memorandum and Articles of Association of the Company.
Further to increase the preference share capital of the Company from Rs 2,50,00,000/- divided into 2,50,000 preference shares of Rs 100/- each to Rs 5,00,00,000/- divided into 5,00,000 preference shares of Rs 100/- each in lieu of the cancellation of the above said equity shares.
Futher to alter Clause V of the Memorandum of Association of the Company as follows:
"The Authorised share capital of the Company is Rs 12,50,00,000/- (Rupees twelve crore fifty lacs only) divided into Rs 7,50,00,000/-(Rupees seven crore fifty lacs only) equity shares of Rs 1/- (Rupee one) each and Rs 5,00,00,000/-(Rupee five crore only) divided into 5,00,000/-(five lacs only) preference shares of Rs 100/- (Rupees one hundred) each."
Further to alter Clause 3 of the Articles of Association of the Company as follows:
"The Authorised share capital of the Company will be as per Clause V of the Memorandum of Association of the Company.
2. Authority to the Board to offer, issue and allot up to 5,00,000 redeemable cumulative preference shares of Rs 100/- each at par aggregating to Rs 5,00,00,000/- to one or more persons but not exceeding 500 persons in one or more trenches upon such percentage, terms and conditions as the Board of Directors / Committee may think fit, subject to provisions & approvals. |
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