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| Exchange Disseminated Time | Shree Precoated Steels Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the Company will be held on January 12, 2009 or soon after the conclusion of the Court Convened meeting of the Equity Shareholders whichever is later to be held for approving the Composite Scheme of Arrangement between the Ajmera Realty and Infra India Ltd(ARIIL) (formerly known as "Shree Precoated Steels Ltd") (Demerged Company) and Ajmera Precoated Steels Ltd (APSL) and their respective shareholders, to transact as Special Business the following:
"Pursuant to section 100 to 103 of the Companies Act, 1956 and Article 59 of the Articles of Association of the Company, with effect from the effective date of the Scheme and subject to the sanction of the Composite Scheme of Arrangement between the Company and Ajmera Precoated Steels Ltd (APSL) and their respective shareholders by the Hon'ble High Court of Bombay under Sections 391 to 394 read with Sections 100 to 103 of the Companies Act, 1956, as an integral pan of the said Scheme, there shall be a reorganization of the share capital of the Company as provided in Clause 8 read with Clause 6.2 of the said Scheme in the following manner:
Paid-up Equity share capital of the Company of Rs 118,28,29,170/- representing 11,82,82,917 equity shares of Rs 10/- each shall be reduced by Rs 82,79,80,420/- to Rs 35,48,48,750/- divided into 3,54,84,875 equity shares of Rs 10/- each fully paid-up. And accordingly, the equity shareholders shall receive 3 (Three) equity share of Rs 10/- each fully paid up for every 10 (Ten) equity share of Rs 10/- each fully paid up. |
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