Sagar Systech Ltd has informed that the Board of Directors of the Company at its meeting held on January 30, 2008 has decided to convene an Extra-ordinary general meeting of the Company on February 22, 2008 for the purpose of alteration in memorandum of Association and Articles of Association of the Company :
SPECIAL BUSINESS :
1. INCREASE IN AUTHORISED SHARE CAPITAL :
To consider and if thought fit, to pass with or without modification(s), the following resolution as an Special Resolution:
RESOLVED THAT pursuant to Section 94 and other applicable provisions, if any, of the Companies Act, 1956, the Authorised share capital of the Company be increased from Rs 25,00,000 (Rupees Twenty Five Lac only) divided into 2,50,000 equity shares of Rs 10/- each to Rs 50,00,000/- (Rupees Fifty Lacs only) divided into 5,00,000 (Five Lacs only) Equity Shares of Rs 10/- each by creation of an additional 2,50,000 (Two Lakhs Fifty Thousand only) equity shares of Rs 10/- each ranking pari passu with the existing shares.
RESOLVED FURTHER THAT the existing Clause V (a) of the Memorandum of Association of the Company, for the words:
The Authorised Share capital of the Company is Rs 25,00,000/- (Rupees Twenty Five Lacs only) divided into 2,50,000 (Two Lacs Fifty Thousand) Equity Shares of Rs 10/- (Rupees Ten only) each, the following be substituted:
The fol1owing words shall be substituted i.e.
The Authorised Share capital of the Company is Rs 50,00,000/- (Rupees Fifty Lacs only) divided into 5,00,000 (Five Lacs) Equity Shares of Rs 10/- (Rupees Ten only) each.
SPECIAL BUSINESS :
1. INCREASE IN AUTHORISED SHARE CAPITAL :
To consider and if thought fit, to pass with or without modification(s), the following resolution as an Special Resolution:
RESOLVED THAT pursuant to Section 94 and other applicable provisions, if any, of the Companies Act, 1956, the Authorised share capital of the Company be increased from Rs 25,00,000 (Rupees Twenty Five Lac only) divided into 2,50,000 equity shares of Rs 10/- each to Rs 50,00,000/- (Rupees Fifty Lacs only) divided into 5,00,000 (Five Lacs only) Equity Shares of Rs 10/- each by creation of an additional 2,50,000 (Two Lakhs Fifty Thousand only) equity shares of Rs 10/- each ranking pari passu with the existing shares.
RESOLVED FURTHER THAT the existing Clause V (a) of the Memorandum of Association of the Company, for the words:
The Authorised Share capital of the Company is Rs 25,00,000/- (Rupees Twenty Five Lacs only) divided into 2,50,000 (Two Lacs Fifty Thousand) Equity Shares of Rs 10/- (Rupees Ten only) each, the following be substituted:
The fol1owing words shall be substituted i.e.
The Authorised Share capital of the Company is Rs 50,00,000/- (Rupees Fifty Lacs only) divided into 5,00,000 (Five Lacs) Equity Shares of Rs 10/- (Rupees Ten only) each.
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