NRB Bearings seeks EGM approval for stock-split

NRB Bearings Ltd has announced that an Extra-Ordinary General Meeting (EGM) of the members of the Company will be held on March 08, 2007, inter alia, to sub-divide each Equity Share of the Company of the face value of Rs 10/- into 5 Equity Shares of the face value of Rs 2/- each and consequential amendments in the Clause V of the Memorandum of Association of the Company and Articles of Association of the Company by altering and replacing with the following clause:

"The Authorised Share Capital of the Company is Rs 10,00,00,000/- divided into 5,00,00,000 Equity Shares of Rs 2/- each, with the rights, privileges and conditions attaching thereto as are provided in the Articles of Association of the Company with power to increase or reduce or repay the capital or any portion thereof at any time and from time to time in accordance with the Articles of the Company and the legislative provisions for the time being in that behalf. The shares in the Capital of the Company for the time being whether original or increased may be divided, consolidated, and sub-divided into several classes by any issue of any class, of any value, with such preferential, deferred, qualified or special rights, privileges or conditions as may be determined by or in accordance with the Articles of Association of the Company and with the right to vary, modify or abrogate any such rights, privileges or conditions in such manner as may for the time being be provided by the Articles of Association of the Company."

Source : Equity Bulls

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