Prime Textiles EGM approves stock split

Prime Textiles Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 02, 2007, inter alia, have transacted the following:

1. Sub-division of each existing equity share of Rs 10/- fully paid-up into 5 equity shares of Rs 2/- each fully paid up.

2. Amendments in the Capital Clause (Clause V) of the Memorandum of Association of the Company by substituting thereof the following:

"V. The Authorised Share Capital of the Company shall be Rs 20,00,00,000 divided into 6,25,00,000 Equity Shares of the face value of Rs 2/- each and 7,50,000 Preference Shares of Rs 100/- each".

3. Amendments in the Article 4 of the Articles of Association of the Company by substituting thereof the following:

"4. The Authorised Share Capital of the Company shall be Rs 20,00,00,000 divided into 6,25,00,000 Equity Shares of the face value of Rs 2/- each and 7,50,000 Preference Shares of Rs 100/- each."

Source : Equity Bulls

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