Memory Polymers to change name, increase capital

Memory Polymers Ltd has announced that the Board of Directors of the Company at its meeting held on September 09, 2006, inter alia, has transacted the following:

1. To seek members consent for change the name of the Company from "Memory Polymers Ltd" to "National Diamond Jewellery House Ltd".

2. To seek members consent for increase of Authorized Capital from existing Rs 750 lacs to Rs 900 lacs by addition of 15,00,000 no. of Equity Shares of Rs 10 each.

3. To seek members consent for making a preferential allotment of 10,00,000 no. of Equity Shares of Rs 10 each at a premium of Rs 5 each, aggregating to Rs l50 lacs, to M/s. Ciemme Jewels Ltd., Mumbai, a group Company of C Mahendra Exports, one of the largest Diamond Product Companies in the country with world wide manufacturing and marketing facilities.

4. To convene an Extra-Ordinary General Meeting of the Members on October 06, 2006 for seeking members consent to the above Resolutions.

5. To authorize the Managing Director to borrow loans up to maximum of Rs 100 lacs upon such terms and conditions as he deems fit including mortgaging and/or creating charge on all or any immovable and movable properties of the Company and for this purpose to execute such documents and do all such acts, deeds, matters and things as may be necessary, proper or expedient.

Source : Equity Bulls

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