Shree Precoated Steels Ltd has informed that the members at the 20th Annual General Meeting (AGM) of the Company held on December 28, 2007, inter alia, have accorded the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2007 and the Profit & Loss Account for the year ended March 31, 2007 together with the Directors Report and Auditors Report thereon.
2. Declaration of Dividend @ 11% on 11,82,82,917 Equity Shares of the Company.
3. Re-appointment of Shri. Jagdish J Doshi as Director of the Company liable to retire by rotation.
4. Re-appointment of M/s. V Parekh & Associates, Chartered Accountants, Mumbai, as Auditors of the Company to hold Office from the conclusion of this Annual General Meeting upto the conclusion of the next Annual General Meeting of the Company on such remuneration, terms and conditions as may be decided by the Board of Directors.
5. Re-Classification of the Authorised Share Capital of the Company From Rs 150 Crores divided into 13,50,00,000 Equity Shares of Rs 10/- each and 150,00,000 Cumulative Redeemable Preference Shares of Rs 10/- each to 150,00,00,000 Equity Shares of Rs 10/- each and consequential amendments in the Memorandum of Association of the Company.
6. Authority to the Board of Directors to mortgage and / or creation of charge on moveable or immoveable properties of the Company upto Rs 2000 Crores.
7. Authority to the Board of Directors to borrow money upto Rs 2000 Crores.
8. Enhancements of Investment limits of FIIs / NRIs in the securities of the Company from 24% to 49% of the Equity Share Capital of the Company.
9. Authority to the Board of Directors to towards issuance of FCCBs / GDRs / ADRs upto 250 Million US Dollars and further issue of shares as and when required.
1. Adoption of the Audited Balance Sheet as at March 31, 2007 and the Profit & Loss Account for the year ended March 31, 2007 together with the Directors Report and Auditors Report thereon.
2. Declaration of Dividend @ 11% on 11,82,82,917 Equity Shares of the Company.
3. Re-appointment of Shri. Jagdish J Doshi as Director of the Company liable to retire by rotation.
4. Re-appointment of M/s. V Parekh & Associates, Chartered Accountants, Mumbai, as Auditors of the Company to hold Office from the conclusion of this Annual General Meeting upto the conclusion of the next Annual General Meeting of the Company on such remuneration, terms and conditions as may be decided by the Board of Directors.
5. Re-Classification of the Authorised Share Capital of the Company From Rs 150 Crores divided into 13,50,00,000 Equity Shares of Rs 10/- each and 150,00,000 Cumulative Redeemable Preference Shares of Rs 10/- each to 150,00,00,000 Equity Shares of Rs 10/- each and consequential amendments in the Memorandum of Association of the Company.
6. Authority to the Board of Directors to mortgage and / or creation of charge on moveable or immoveable properties of the Company upto Rs 2000 Crores.
7. Authority to the Board of Directors to borrow money upto Rs 2000 Crores.
8. Enhancements of Investment limits of FIIs / NRIs in the securities of the Company from 24% to 49% of the Equity Share Capital of the Company.
9. Authority to the Board of Directors to towards issuance of FCCBs / GDRs / ADRs upto 250 Million US Dollars and further issue of shares as and when required.
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