Dhandapani Finance Ltd has informed that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on November 15, 2007, inter alia, have approved the following resolutions:
1. Further Issue of shares on Rights basis upto an aggregate amount of Rs 50 crores and authorised the Board to decide on the terms of the Rights Issue.
2. Increase in the Authorised Share capital of the Company from Rs 35 crores divided into 1,00,00,000 Equity Shares of Rs 10/- each and 2,50,00,000 Preference shares of Rs 10/- each to Rs 50 Crores divided into 2,50,00,000 Equity Shares of Rs 10/- each and 2,50,000 Preference shares of Rs 10/- each ranking pari-passu in all respect with existing equity / preference shares and the consequent amendments to the Memorandum and Articles of Association of the Company.
3. Ratification of appointment of Mr. R Ravichandran as the Managing Director.
4. Considered the proposed amendments to Main Objects to the Memorandum of Association through Postal Ballot the result for which would be announced on November 28, 2007 as detailed in the notice.
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