Krypton Industries AGM approves 15% dividend, rights issue

Krypton Industries Ltd has announced that the members at the 16th Annual General Meeting (AGM) of the Company held on September 20, 2006, inter alia, have approved the declaration of dividend at the rate of Rs 1.50/- per equity share of Rs 10/- each for the financial year 2005-06.

To Delist the Equity Shares of the Company from The Delhi Stock Exchange Association Ltd and the Jaipur Stock Exchange.

Increase the Authorised Share Capital of the Company from Rs 8,00,00,000/- divided into 80,00,000 equity Shares of Rs 10/- each to Rs 15,00,00,000/- divided into 1,50,00,000 equity shares of Rs 10/- each, and consequential alteration in the Memorandum & Articles of Association of the Company.

Authority to the Board to offer / issue / allot (*) Equity Shares of Rs 10/- each for each at a premium of Rs (*) per share, aggregating Rs (*) ("Issue") on Rights basis to the existing equity shareholders of the Company, in the ratio of (*) equity shares for every (*) equity shares held as on record date to be fixed by the Board / Committee of Directors at a later date (fractional entitlements, if any, to be rounded off to the next higher integer) or to such person or persons, who may not be the shareholders of the Company, being renounces in whose favour the rights may be renounced by the respective shareholders, subject to necessary provisions & approvals.

Source : Equity Bulls

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