Sarang Chemicals Ltd has informed that the Board of Directors of the Company at its meeting held on April 20, 2009, inter alia, has taken the following decisions:
1. To increase authorized share capital of the Company from the existing authorized share capital of Rs 17,50,00,000, (Rupees Seventeen Crores Fifty Lakhs only) to Rs 52,50,00,000 (Rupees Fifty Two Crores Fifty Lakhs only) by issuing 35,00,00,000 (Thirty Five Crores) Equity Shares of Rs 1/- each, subject to consent of shareholders of the Company.
2. To raise fund by offering, issuing and allotting Rs 35,00,00,000 (Rupees Thirty Five Crores only) on QIP basis, subject to consent of shareholders of the Company.
3. The Board of Directors of the Company decided that Hirak Biotech Ltd. will be merger with Sarang Chemicals Ltd., subject to approval of shareholders.
4. To convene Extra Ordinary General Meeting of the Shareholders of the Company on June 01, 2009.
5. Draft notice for Extra Ordinary General Meeting is duly approved by the Board of Directors and authorize any of the Director of the Company to issue Notice of Extra Ordinary General Meeting of the Company.
1. To increase authorized share capital of the Company from the existing authorized share capital of Rs 17,50,00,000, (Rupees Seventeen Crores Fifty Lakhs only) to Rs 52,50,00,000 (Rupees Fifty Two Crores Fifty Lakhs only) by issuing 35,00,00,000 (Thirty Five Crores) Equity Shares of Rs 1/- each, subject to consent of shareholders of the Company.
2. To raise fund by offering, issuing and allotting Rs 35,00,00,000 (Rupees Thirty Five Crores only) on QIP basis, subject to consent of shareholders of the Company.
3. The Board of Directors of the Company decided that Hirak Biotech Ltd. will be merger with Sarang Chemicals Ltd., subject to approval of shareholders.
4. To convene Extra Ordinary General Meeting of the Shareholders of the Company on June 01, 2009.
5. Draft notice for Extra Ordinary General Meeting is duly approved by the Board of Directors and authorize any of the Director of the Company to issue Notice of Extra Ordinary General Meeting of the Company.
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