Hulta Pharmaceutical EGM approves conversion of loan into shares, name change

The members at the Extra-Ordinary General Meeting (EGM) of Hulta Pharmaceutical Export Ltd held on March 20, 2007, inter alia, have accorded to the following:

1. Authority to the Board for conversion of unsecured loan of Rs 46,94,789/- brought in by Dr. Mohan Swami, Director as per the Audited Balance Sheet as at March 31, 2006 into equity and offering / issuing of 4,69,479 equity shares of Rs 10/- thereagainst credited as fully paid up, on preferential basis, from and out of the Authorised Share Capital of the Company. The new equity shares to be so allotted shall be subject to the Memorandum of Association and Articles of Association of the Company. The new equity shares shall rank pari passu in all respects with the existing equity shares of the Company, subject to necessary provisions & approvals.

2. Change of name of the Company from "Hulta Pharmaceutical Export Ltd" to "Epsom Properties Ltd", subject to necessary provisions and approvals and consequential amendments in the Memorandum and Articles of Association of the Company.

Further the Company has informed that, the Point No. 2 was passed by the members of the Company by way of Postal Ballot.

The stock was trading at Rs.9.30 on volume of 3050 shares.

Source : Equity Bulls

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