Suryalata Spinning EGM approves re-classification of authorised share capital

Suryalata Spinning Mills Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 06, 2009, inter alia, have approved and passed the reclassification of Authorised Share Capital from Rs 17.00 Cores consisting 1 Crore Equity Shares of Rs 10/- each and 7 Lakhs Preference Shares of Rs 100/- each into 50 Lakhs Equity Shares of Rs 10/- each and 12 Lakhs Preference Shares of Rs 100/- each.

The EGM approved alteration of Memorandum and Articles of Association of the Company to effect consequential changes consequent to re-classification of Authorised Share Capital.

To ssue and allot Cumulative Redeemable Preference Shares not exceeding Rs 10 Crores on preferential basis.

The stock closed the day at Rs.9.80, down by Rs.0.09 or 0.91%. The stock hit an intraday high of Rs.9.80 and low of Rs.9.60.

The total traded quantity was 550 compared to 2 week average of 1425.

Source : Equity Bulls

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