SMIFS Capital Markets AGM approves rights issue

SMIFS Capital Markets Ltd has announced that the members at the 23rd Annual General Meeting (AGM) of the Company held on September 16, 2006, inter alia, have passed the special resolution, authorising the Board to create, offer, issue and allot not more than 55,85,000 equity shares of the company of face value of Rs 10/- for cash at such premium and in such proportion as may be decided by the Board, to the members on right basis (fractional entitlements, if any, to be rounded off to the next higher integer) and to such person(s), who may not be the member(s) of the company, being renounces in whose favour the rights may be renounced by the respective member(s), aggregating to not more than Rs 12,00,00,000/- and the Record date for the said purpose be fixed by the Board at a later date, subject to necessary provisions and approvals.

Source : Equity Bulls

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