Uflex Forfeits partly paid-up Equity Shares

Uflex Ltd has announced that, pursuant to the provisions of Article 50 of the Articles of Association of the Company, the Board of Directors of the Company has, by a resolution passed at the Board Meeting held on July 15, 2010, forfeited the total 72701 partly paid-up equity shares of Rs. 10/- each, in respect of which the Share Allotment Money & Call Money have remained unpaid, after complying with all the provisions of the Companies Act, 1956, the Listing Agreement with the Stock Exchanges as well as the Articles of Association of the Company.

Further the Company has inform that the aforesaid shareholders will be informed by the Company, by sending individual notice to them, regarding the forfeiture of the said partly paid-up shares held by them. The Company will also give a Public Notice for forfeiture, by advertising the same in Hindi and English Newspapers.

The stock was trading at Rs.124.40, up by Rs.2.85 or 2.34%. The stock hit an intraday high of Rs.125 and low of Rs.122.

The total traded quantity was 383418 compared to 2 week average of 444568.

Source : Equity Bulls

Keywords