Take Solutions - Updates on Outcome of Board Meeting
Take Solutions Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 15, 2008, inter alia, has transacted the following:
1. Increase in Authorized Capital
The Proposal to Increase the Authorized Capital to Rs Thirty Crores (comprising of Three Crore Shares of Rs 10/- Each, consisting of Two Crore Fifty Lacs Equity Shares of Rs 10/- each (Nominal Value of Equity Share Capital being Rs 25 Cores) and Fifty Lacs Preference Shares of Rs 10/- each, (Nominal Value of Preference Share capital being Rs 5 Crores), aggregating to Rs 30 (Thirty) Crores was approved by the Board of Directors, subject to such approvals from the Shareholders in General Meeting Pursuant to the provisions of Sections 16, 94 and other applicable provisions of the Companies Act, 1956, and by amending the Capital Clause (Clause V) of the Memorandum of Association and that the said Clause (Clause V) shall be amended in such a manner to reflect the proposed enhancement of the Authorized Capital at Rs Thirty Crores)
And Further Clause 2(a) of the Articles of Association shall also be altered to reflect the amended Authorized Share Capital at Rs Thirty Crores (comprising of Three Crore Shares of Rs 10/- Each, consisting of Two Crore Fifty Lacs Equity Shares of Rs 10/- each (Nominal Value of Equity Share Capital being Rs 25 Cores) and Fifty Lacs Preference Shares of Rs 10/- each, (Nominal Value of Preference Share capital being Rs 5 Crores), aggregating to Rs 30 (Thirty) Crores.
2. Proposed Amendments to Memorandum of Association and Articles of Association
The Board had approved the proposed Amendments to the Capital Clause (Clause V) af the Memorandum of Association and Clause 2(a) of the Articles of Association, subject to such approvals from the Shareholders in General Meeting Pursuant to the provisions of Sections 16, 94 and other applicable provisions of the Companies Act 1956.
3. Convening of Extra Ordinary General Meeting to consider and approve Increase in Authorized Capital and Amendments to MoA & AoA.
The Board had approved in principle the convening of the Extra Ordinary General Meeting to consider and approve Increase in Authorized Capital and Amendments to MoA & AoA and that the Notice comprising details of the exact date, time, venue for holding such Extra Ordinary General Meeting together with the proposed Resolution/s to be moved thereat forming part of the Notice of the EGM.
4. Discussion on Growth Strategy
The discussion on Growth Strategy was noted by the Directors.
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