STI India Board Meeting approves modification in authorised share capital

STI India Ltd has announced that the Board of Directors of the Company at its meeting held on September 04, 2006, inter alia, has decided to include following items for approval of the shareholder in the notice of 21st Annual General Meeting to be held on September 30, 2006.

1. To keep the existing Authorised Share Capital unchanged at Rs 45 Crores, but modify it from Rs 45 Crores consisting of 2.50 Crores Equity Share of Rs 10/- each and 20 Lacs Preference Share of Rs 100/- Each to Rs 45 Crores consisting of 4 Crores Equity Share of Rs 10/- each and 5 Lacs Preference Share of Rs 100/- Each.

2. To increase the borrowings limits upto Rs 450 Crores u/s 293(1)(d).

3. To do matching increase in the limit to mortgage equal to the borrowing limit of Rs 450 Crores under section 293(1)(a).

4. To fix an upper limit for FII holding in the Equity Share Capital upto 49% of total shareholding.

Source : Equity Bulls

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