Kovilpatti Lakshmi - Outcome of Board Meeting
Kovilpatti Lakshmi Roller Flour Mills Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 18, 2008, has taken the following decisions:
1. To change the name of the Company from “Kovilpatti Lakshmi Roller Flour Mills Ltd” to “KLRF Ltd” subject to the approval of the members at the ensuing EGM to be held on March 24, 2008.
2. To increase the share capital of the Company from Rs 10,00,00,000/- divided into 1,00,00,000 Equity shares of Rs 10/- each to Rs 15,00,00,000/- divided into 90,00,000 equity shares of Rs 10/- each and 60,00,000 - 10% Cumulative Redeemable Preference Shares of Rs 10/- each and consequential amendment(s) to the Memorandum and Articles of Association of the Company subject to the approval of the members at the ensuing EGM to be held on March 24, 2008.
3. Issue of 60,00,000 ? 10% Redeemable Preference Shares of Rs 10/- each at par to Promoters, their Associates, Banks, Financial Institutions, Corporates and others on a preferential basis subject to the approval of the members at the ensuing EGM to be held on March 24, 2008.
4. Necessary Resolution under Section 293(1)(a) and 293(1)(d) of the Companies Act, 1956 for increasing the borrowing limits to Rs 100 Crores (Resolution under Section 293(1)(a) of the Companies Act, 1956 is to passed through Postal Ballot as required under Section 192A of the Companies Act, 1956).
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