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Sunday, May 15, 2011

Akar Tools Ltd: Outcome of Board Meeting

Akar Tools Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 14, 2011, inter alia, taken the following decisions :

1. The Board has decided to call an Extra-Ordinary General Meeting of the Shareholders on June 14, 2011 to consider and approve the following :

(a) The Board of Directors has decided to issue Equity Shares, including issue to the existing shareholders on right basis under section 81(1A).

(b) The board of Directors has also decided to increase its authorized share capital. After altering the Clause V of Memorandum of Association and Clause IV of Articles of association.

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