Grabal Alok Impex Ltd has informed that the Board of Directors of the Company at its meeting held on May 20, 2009, inter alia, has considered and approved the following items subject to the approval of the members of the Company through Postal Ballot:
1. Re-conversion of un-issued 50,00,000 Authorized Preference Shares of Rs 10/- each into
50,00,000 Authorized Equity Shares of Rs 10/- each ranking pari passu with the existing equity shares of the Company in all respects.
2. Increase the Authorised Share Capital from Rs 40.00 crores to Rs 100.00 crores by creation of 6,00,00,000 Equity Shares of Rs 10/- each ranking pari passu with the existing equity shares in the Company in all respects.
3. Amendment of the Memorandum and Articles of Association of the Company consequent to the further increase and re-classification /re-conversion of present Authorized Share Capital of the Company.
4. Issue equity share/other convertible of securities upto an amount of USD 35.00 million.
5. The Postal Ballot Notice for obtaining equity shareholders approval for the above matters. The results of the Postal Ballot will be declared on June 23, 2009.
6. The Company has appointed Shri Virendra Bhatt, Practicing Company Secretary, as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.
1. Re-conversion of un-issued 50,00,000 Authorized Preference Shares of Rs 10/- each into
50,00,000 Authorized Equity Shares of Rs 10/- each ranking pari passu with the existing equity shares of the Company in all respects.
2. Increase the Authorised Share Capital from Rs 40.00 crores to Rs 100.00 crores by creation of 6,00,00,000 Equity Shares of Rs 10/- each ranking pari passu with the existing equity shares in the Company in all respects.
3. Amendment of the Memorandum and Articles of Association of the Company consequent to the further increase and re-classification /re-conversion of present Authorized Share Capital of the Company.
4. Issue equity share/other convertible of securities upto an amount of USD 35.00 million.
5. The Postal Ballot Notice for obtaining equity shareholders approval for the above matters. The results of the Postal Ballot will be declared on June 23, 2009.
6. The Company has appointed Shri Virendra Bhatt, Practicing Company Secretary, as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.
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