RGN Securities to increase authorised capital, active NONI Biotech division

RGN Securities & Holdings Ltd has announced that the Board of Directors of the Company at its meeting held on August 25, 2006, inter alia, has passed the following resolutions:

1. Appointment of Dr P I Peter, founder of Webfund Foundation Pvt Ltd & Mrs S Kala as Directors of the Company. These directors will hold office up to the ensuing Annual General Meeting of the Company and they are eligible for reappointment with the consent of the shareholders of the Company.

2. To shift the Registered Office of the Company within Chennai.

3. Amendment to the main object clause of the Memorandum of Association & Articles of Association of the Company subject to approval by shareholders of the Company & also by all the government agencies.

4. The 14th Annual General Meeting of the Company will be held on September 30, 2006.

5. Increase in Authorised Share capital of the Company from Rs 40 million to Rs 60 million consisting of 60,00,000 equity shares of Rs 10/- each, subject to the approval of the shareholders in the ensuing Annual General Meeting.

6. To activate the NONI BIO TECH division business, the initial business plan required resources to the extent of Rs 15 million besides debt funding for the project. The company will consider allotting 15,00,000 equity share at Rs 10/- each to the proposed allottees in tine with the provision of the companies act, subject to the approval of the shareholders & other necessary approvals.

7. Discussion and finalization of notice for postal ballot for the amendment of the object clause in the Memorandum of the Association of the Company.

Source : Equity Bulls

Keywords