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| Exchange Disseminated Time | Gujarat Toolroom Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 29, 2016, has decided the following matters:
1. Pursuant to clause 5.2 of the Scheme of Capital Reduction of Gujarat Toolroom Limited, to effect the reduction in the Issued, Subscribed and Paid-Up Equity Share Capital of the Company, the face value of equity shares has been reduced from Rs.10/- per share to Rs.2/- per shares fully paid up, and after such reduction in capital, the Company has consolidated the face value of Rs.2/- per shares to Rs.10/- per shares fully paid-up and to effect such consolidation, the Board approved to issue 1 (One) equity shares of Rs.10/- each fully paid-up against 5 equity shares of Rs. 2/-each fully paid up to the Shareholders whose name appears on the register of members as on the record date i.e. February 16, 2016.
2. Further the Board authorised Mr. Suryakant H. Parikh, Managing director and/or Vishal M. Shah, Director of the Company to issue physical share certificates to all those shareholders who were holding shares in physical mode as on the record date and further authorised to do all the formalities with the RTA of the Company to generate corporate action at CDSL and NSDL to effect reduction of capital in the holding of shareholders holding shares in dematerialized form. |
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