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| Exchange Disseminated Time | Gangotri Textiles Ltd has informed BSE that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on September 24, 2005, inter alia, have accorded to the following:
1. Authority to the Board to allot fully paid Bonus Shares to the Members of the Company registered as equity shareholders of 48,00,000 shares of the Company, in proportion of one equity shares of Rs 10 / each for one equity shares of Rs 10 / each held by such Member on a date to be determined by the Board of Directors and upon the footing that they become entitled to such new Equity Shares as Capital and not as Income.
2. Authority to the Board to split all the existing Equity Shares of Rs 10/- each into two Equity Shares of Rs 5/- each by cancellation of all the existing Equity Shares of Rs 10/- each and by allotment of Shares of face value of Rs 5/- each equivalent to the holding each one of the member of the Company may have, as on a date, to be notified by the Board of Directors in this regard.
3. Amendment in Memorandum & Articles of Association of the Company.
4. Authority to the Board to issue and allot equity shares and / or share warrants convertible into equity shares, to any persons, whether or not such persons are shareholders of the Company, at such premium as the Board may decide taking into account such factors as they may deem relevant in this regard, for an aggregate sum not exceeding Rs 75,00,00,000/- including the premium amount. |
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