Supreme Yarns to raise funds, enter real estate business

Supreme Yarns Ltd has announced that the Board of Directors of the Company at its meeting held on September 19, 2006, inter alia, has decided the following:

1. Change in object clause was approved by addition of business of real estate in the main object clause of the memorandum of association of the company.

2. Change in registered office from Village Kanganwal, P.O. Jugiana, Ludhiana to 424, Industrial Area A, Ludhiana was approved.

3. Split in shares from Rs 10/- per share to Rs 1/- per share was approved.

4. Raising equity by preferential issue of Rs 18 Crores to the promoters was approved.

5. Increase in authorised capital from Rs 20 Crores to Rs 29 Crores was approved.

6. Matter regarding change in name of company, managing director was authorised to look for the suitable name.

Source : Equity Bulls

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