Responsive Polymers EGM approves 3:1 bonus issue

Responsive Polymers Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 02, 2007, have taken the following decisions:

1. Decided to increase the authorized capital of the Company from Rs 30,00,00,000/- divided into Rs 20,00,00,000/- consisting of 2,00,00,000 Preference Shares of Rs 10/- each and Rs 10,00,00,000/- consisting of 1,00,00,000 Equity Shares of Rs 10/- each to Rs 42,00,00,000/- divided into Rs 20,00,00,000/- consisting of 2,00,00,000 Preference Shares of Rs 10/- each and Rs 22,00,00,000/- consisting of 2,20,00,000 Equity Shares of Rs 10/- each and accordingly clause of the Memorandum of Association and Articles of Association of the Company altered accordingly.

2. Considered & approved the proposal to issue of Bonus Shares in the ratio of 3 equity shares of Rs 10/- each for every equity shares of Rs 10 each held (3:1) to the members.

Source : Equity Bulls

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