United Credit decides to alter MoA of the company

United Credit Ltd has announced that the Board of Directors of the Company at its meeting held on April 23, 2007, has decided to alter Clause V of Memorandum of Association of the Company containing authorized capital of the Company in the following manner:

The authorised share capital of the Company is Rs 20,00,00,000/- divided into 1,50,00,000 Equity Shares of Rs 10/- each and 50,00,000 Preference Shares of Rs 10/- each with the rights, privileges and conditions attached thereto as are provided by the Articles of Association of the Company for the time being with power to increase and reduce the capital of the Company and to divide the shares in the capital for the time being into several classes and to attach thereto such preferential, qualified or special rights, privileges or conditions as may be determined by or in accordance with the Articles of Association of the Company for the time being and to vary, modify or abrogate any such rights, privileges or conditions in such manner as may be permitted by the Companies Act, 1956 or any other relative Act for the time being in force or provided by the Articles of Association of the Company for the time being.

Further the Company has informed that, the Board also decided to alter the Articles 4 of the Articles of Association of the Company in the following manner:

The Authorised Share Capital of the Company is Rs 20,00,00,000/- divided into 1,50,00,000 Equity Shares of Rs 10/- each and 50,00,000 Preference Shares of Rs 10/- each.

The above alteration will be made with the approvals of the members by way of appropriate resolutions in ensuing Annual General Meting of the Company.

Source : Equity Bulls

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