Madras Cements Ltd has informed that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on September 14, 2007, inter alia, to alter and amend the Articles of Association of the Company by substitution of Article Nos. 4 and 56 by the following new Articles :
4. Except as provided by the provisions of the Companies Act, 1956 and the Articles hereof, no part of the funds of the Company shall be employed in the purchase, or in loans on the security, of the shares of the Company.
56. Notwithstanding anything contained in these Articles, but subject to provisions of the Companies Act, 1956, the Company may purchase its own shares or other specified securities (Buy-Back) out of -
a) its Free Reserve; or
b) the Securities Premium Account; or
c) the Proceeds of any Shares or other specified securities or any other sum, in accordance with the provisions of the Companies Act, 1956 and Rules prescribed by the Central Government and / or by Securities Exchange Board of India and / or any other Authority for the time being in force in this behalf.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment