Indian Hotels members approve stock split through Postal Ballot

Indian Hotels Company Ltd has announced that the members of the Company, by way of Postal Ballot, have passed the resolution for sub-dividing the Ordinary Shares of the Company, including the paid up shares, such that the Ordinary Shares of the Company of the face value of Rs 10/- each be subdivided into Ordinary Shares of the Company of the face value of Re 1/- each and consequently, the Authorised Share Capital of the Company of Rs 200,00,00,000 would comprise of 100,00,00,000 Ordinary Shares of Re 1/- each and 1,00,00,000 Cumulative Redeemable Preference Shares of Rs 100/- each, with effect from the "Record Date" to be determined by the Board for this purpose, subject to necessary provisions and approvals and consequential amendments in the Memorandum & Articles of Association of the Company, with requisite majority.

Source : Equity Bulls

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