Vascon Engineers Ltd increases authorised capital

The Members of Vascon Engineers Ltd have passed an ordinary resolution on March 4, 2014 by way of a Postal Ballot for Increase in Authorised Capital of the Company and Alteration to the Memorandum of Association. The altered clause of the Memorandum of Association given below.

The Authorized Share Capital of the Company is Rs.150,00,00,000/- (Rupees One Hundred and Fifty Crores only) divided into 15,00,00,000 (Fifteen Crore) equity shares of Rs.10/- (Rupee Ten only) each with power to increase or reduce the capital of the Company and / or the nominal value of the shares and to divide the shares in the capital for the time being into several classes and to attach thereto respectively such preferential, deferred qualified or special rights, privileges or conditions with or without voting rights as may be determined by or in accordance with the Articles of Association of the Company or as may be decided by the Board of Directors of the Company or by the Company in General Meeting, as applicable, in conformity with the provisions of the Companies Act, 1956 ('the Act'), the Companies Act, 2013 ('the New Act') and to vary, modify, amalgamate or abrogate any such rights, privileges or conditions and to consolidate or sub-divide the shares and issue shares of higher or lower denominations in such manner as may be permitted by the Act, the New Act or provided by the Articles of Association of the Company for the time being.

Shares of Vascon Engineers Ltd was last trading in BSE at Rs.23.45 as compared to the previous close of Rs. 23.8. The total number of shares traded during the day was 6517 in over 70 trades.

The stock hit an intraday high of Rs. 23.85 and intraday low of 22.85. The net turnover during the day was Rs. 150538.

Source : Equity Bulls

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