Stresscrete India Ltd has informed that the Board of Directors of the Company at its meeting held on May 08, 2009, has transacted the following:
1. The Board of Directors approved the Increase in Authorized Share Capital of the Company from Rs 10 crore to Rs 20 Crore for the proposed Rights Issue, subject to the approval of the equity shareholders to be sought by a resolution to be passed by Postal Ballot.
2. The Board authorized Mr. Ramesh Vardhan, Managing Director and Mr. Anshul Gupta Director of the Company to issue notice of to the equity shareholders of partly paid up equity shares for the payment of allotment money stating that in the event of non payment of the same the equity shares shall be forfeited.
3. The Board of Directors approved a Rights Issue of 7400000 equity shares of face value of Rs 10/- (Equity Shares) of the at par at a ratio of 1:1 to existing equity shareholders, subject to the approval of the equity shareholders to be sought by a resolution to be passed by postal Ballot.
4. The Board decided that the financial year of the Company which ends on March 31, 2009 shall be changed to close on June 30, 2009 and hereafter shall close on June 30th, every subsequent year and thus the Balance sheet and profit and loss account giving effect to such change shall be prepared for a period of 15 months for the financial year from April 01, 2008 to June 30, 2009.
5. The Board further decided to publish its audited results for the year ended June 30, 2009 on or before September 30, 2009 and hence the Company will not be publishing unaudited quarterly financial results for the last quarter ended June, 2009 on or before July 30, 2009.
1. The Board of Directors approved the Increase in Authorized Share Capital of the Company from Rs 10 crore to Rs 20 Crore for the proposed Rights Issue, subject to the approval of the equity shareholders to be sought by a resolution to be passed by Postal Ballot.
2. The Board authorized Mr. Ramesh Vardhan, Managing Director and Mr. Anshul Gupta Director of the Company to issue notice of to the equity shareholders of partly paid up equity shares for the payment of allotment money stating that in the event of non payment of the same the equity shares shall be forfeited.
3. The Board of Directors approved a Rights Issue of 7400000 equity shares of face value of Rs 10/- (Equity Shares) of the at par at a ratio of 1:1 to existing equity shareholders, subject to the approval of the equity shareholders to be sought by a resolution to be passed by postal Ballot.
4. The Board decided that the financial year of the Company which ends on March 31, 2009 shall be changed to close on June 30, 2009 and hereafter shall close on June 30th, every subsequent year and thus the Balance sheet and profit and loss account giving effect to such change shall be prepared for a period of 15 months for the financial year from April 01, 2008 to June 30, 2009.
5. The Board further decided to publish its audited results for the year ended June 30, 2009 on or before September 30, 2009 and hence the Company will not be publishing unaudited quarterly financial results for the last quarter ended June, 2009 on or before July 30, 2009.
1 comment:
It is a pity, that now I can not express - I hurry up on job. But I will return - I will necessarily write that I think.
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