Kriti Industries to increase authorised share capital

Kriti Industries India Ltd has announced that the members at the 16th Annual General Meeting (AGM) of the Company held on August 25, 2006, inter alia, have approved the declaration of dividend @ Rs 1.00 per share on the Equity Shares of the company for the year ended March 31, 2006.

Increase in Authorised share capital of the Company from Rs 5,00,00,000/- divided into 50,00,000 equity shares of Rs 10/- each to Rs 10,00,00,000/- divided into 1,00,00,000 equity shares of Rs 10/- each by creation of 50,00,000 equity shares of Rs 10/- each to rank pari-passu with the existing equity shares & consequential amendments in Memorandum & Articles of Association of the Company.

Authority to the Board to create, offer, issue and allot 1325000 fully paid equity shares of Rs 10/- each at a price of Rs 25/- (inclusive of premium of Rs 15/- per share), determined in accordance with the SEBI (Disclosure and Investor Protection) Guidelines, 2000 on Preferential Issues by Private placement to the Promoters of the Company (which shall include the promoter / group companies / associates and relatives / Person acting in concert), subject to necessary provisions & approvals.

Source : Equity Bulls

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