Action Financial EGM approves consolidation of equity shares

Action Financial Services India Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 19, 2007, has taken the following decisions and approved with requisite majority:

1. Consolidation of Ten Equity Shares of Re 1/- each fully paid up into One Equity Share of Rs 10/- each fully paid up.

2. Amendment in the Articles and Memorandum of Association of the Company giving effect to the consolidation of shares.

Subsequent to the EGM the company has called for a meeting of the Board of Directors on March 23, 2007, inter alia, to transact the following business:

1. To fix the record date for consideration of Equity Shares.

2. To finalise the scheme for the fraction shares arising out of consideration.

Source : Equity Bulls

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