| ||Outcome of Board Meeting | 2/24/2012 6:51:54 PM|| |
| ||Filmcity Media Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 24, 2012, has subject to the approval of Members of the Company by Special Resolutions / and Stock Exchange and confirmation by Bombay High Court resolved:|
1. To consolidate the present Share capital of Rs. 27,79,17,909/- of face value of Re. 1/- each into
2,77,91,790 equity shares of Rs.10/- each by consolidating 10 equity shares of Re. 1/- each into 1 equity share of Rs.10/- each.
2. In compliance of section 100 of the Companies Act, 1956, and subject to confirmation by the Bombay High Court, and other approvals, if necessary the capital of the Company be reduced from Rs. 27,79,17,900/- (divided into 2,77,91,790 shares of Rs. 10/- each) to Rs. 30570969/- (divided into 2,77,91,790 shares of Rs. 1.10/- each) and that such reduction be effected by writing off losses and canceling capital which has been lost or is unrepresented by available assets, to the extent of Rs. 8.90/- over share upon each of the 2,77,91,790 shares which have been issued and by reducing the nominal amount of all the shares in the Company’s capital from Rs.10/- each to Rs.1.10/- each.
3. To sub-divide in such manner that every 10 of the existing Equity shares of Rs. 1.10/- each be divided into 11 shares of Re. 1/- each fully paid.