Kirloskar Electric Company Ltd has informed that the Board of Directors of the Company at its meeting held on January 28, 2008, inter alia, has transacted the following:
1. Decided to constitute a Trust in terms of the Scheme of Arrangement proposed by it, for holding the shares to be issued in respect of share held by the Company in Kirloskar Power Equipments Ltd and Kaytee Switchgear Ltd.
2. Decided subject to necessary approvals, to increase the Authorised Equity Share Capital of the Company from Rs 40 crores i.e. 4,00,00,000/- equity shares of Rs 10 each to Rs 60 crores i.e. 6,00,00,000/- equity shares of Rs 10 each, to amend the Memorandum of Association of the Company and take other steps to give effect to above, including getting approval of shareholders for the purpose.
1. Decided to constitute a Trust in terms of the Scheme of Arrangement proposed by it, for holding the shares to be issued in respect of share held by the Company in Kirloskar Power Equipments Ltd and Kaytee Switchgear Ltd.
2. Decided subject to necessary approvals, to increase the Authorised Equity Share Capital of the Company from Rs 40 crores i.e. 4,00,00,000/- equity shares of Rs 10 each to Rs 60 crores i.e. 6,00,00,000/- equity shares of Rs 10 each, to amend the Memorandum of Association of the Company and take other steps to give effect to above, including getting approval of shareholders for the purpose.
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