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| Exchange Disseminated Time | Piccadily Sugar & Allied Industries Ltd has informed BSE that, in pursuance of order of Hon'ble BIFR, vide clause no 9.1 & 11.8 of the sanctioned Scheme dated April 09, 2010 the subscribed and paid up equity share capital of the company stands reduced by 50% resulting in reduction in number of equity shares. The new equity shares will be issued in the ratio of 1:2 i.e. one new equity share of Rs. 10/ each will be issued for every 2 equity shares of Rs. 10/- each to all those shareholders whose name(s) appear on Record date as on June 30, 2010.
In view of above, for revival of the company, the share capital of the company as on March 31, 2008 stands reduced by 50% which shall be adjusted against accumulated Losses.
The Detail of Issued Share capital will be as under:
Before the date of reduction :
- Number of shares : 24509053 of Rs. 10/- each
- Amount (in Rs.) : 245090530/-
After the date of reduction :
- Number of shares : 12254527 of Rs. 10/- each
- Amount (in Rs.) : 122545270/-
Further there will be no fractional Shares in the course of reduction. |
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