Asian Tea AGM approves increase in authorised share capital

Asian Tea & Exports Ltd has announced that the members at the 20th Annual General Meeting (AGM) of the Company held on September 08, 2006, inter alia, has approved the increase in the Authorised Share Capital of the Company from Rs 20,00,00,000 divided into 2,00,00,000 equity shares of Rs 10/- each to Rs 30,00,00,000 divided into 3,00,00,000 equity shares of Rs 10/- each by creation of further 1,00,00,000 equity shares of Rs 10/- ranking pari-passu with the existing equity shares of the Company & consequential amendments in Memorandum of Association of the Company.

Authority to the Board to borrow from time to time such sum of money even through the money so borrowed together with money already borrowed exceeds aggregate of the paid-up capital and free reserves of the Company provided, however that the total borrowing shall not exceeds Rs 100,00,00,000 at any one time, subject to necessary provisions & approvals.

Source : Equity Bulls

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