High Street Filatex approves capital reduction

High Street Filatex Ltd has announced that the Board of Directors of the Company at its meeting held on May 30, 2009, inter alia, accorded their approval for reduction of the issued, subscribed and paid up share capital of 64,70,000 (Sixty Four Lacs Seventy Thousand) equity shares of Rs 10/- (Rupees Ten Only) each aggregating to Rs 6,47,00,000/- (Rupees Six Crore Forty Seven Lacs Only) of the Company by Rs 5,82,30,000/- (Rupees Five Crore Eighty Two Lacs Thirty Thousand Only) as being no longer represented by the assets of the Company, and the reduced capital would comprise of 6,47,000 (Six Lacs Forty Seven Thousand) equity shares of Rs 10/- (Rupees Ten Only) each fully paid-up aggregating to Rs 64,70,000/- (Rupees Sixty Four Lacs Seventy Thousand Only), in accordance with the provisions of such Scheme of Arrangement, subject to necessary provisions and approvals.

Source : Equity Bulls

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