| | | | Board approves Sub-division of shares & Bonus Issue | 2/23/2012 12:00:53 PM | | | | Vakrangee Softwares Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 23, 2012, inter alia, has considered and transacted the following business:
1. The Board considered and approved, and recommended for approval of members Increase in Authorised Share Capital of the Company from Rs. 45,00,00,000 (Rupees Forty Five Crores Only) divided into 4,50,00,000 equity shares having face value of Rs. 10/- each to Rs. 75,00,00,000 (Rupees Seventy Five Crores Only) divided into 7,50,00,000 equity shares having face value of Rs. 10/- each.
2. The Board approved, and recommended for approval of members, subdivision of each existing Equity shares of Rs. 10/- each fully paid-up, into 10 (Ten) equity shares of Re. 1/- each fully paid-up.
3. The Board approved and recommended for approval of members, the issuance of Bonus shares in the proportion of 1 (One) new equity bonus share of Rs. 10/- each for every 1 existing equity share of Rs. 10/- each fully paid-up by capitalization of reserve (Bonus Ratio 1:1), and also constituted a Board Committee to consider, approve and take decisions with regard to the matters related to Bonus Issue and subdivision of Capital.
4. The Board considered and approved the passing of aforesaid resolutions through Postal ballot in terms of Section 192A of the Companies Act, 1956 and considered and approved the notice and form for postal ballot. | |
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