Apar Industries EGM approves issue of bonus shares

Apar Industries Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 26, 2006,inter alia, have accorded to the following:

1. Re-classification of the existing Authorised Share Capital of the Company of Rs 91,99,87,500/-, comprising of 2,60,00,000 Equity Shares of Rs 10/- each and 35,67,500 Preference Shares of Rs 185/- each into 9,19,98,750 Equity Shares of Rs 10/- each and consequential Alteration in Memorandum & Article of Association of the Company.

2. Issue of new 8,084,008 Equity Shares of the Company of Rs 10/- each as fully paid Bonus Equity Shares in the ratio of 1 new Equity Share for every 3 existing Equity Shares held by the shareholders of the Company on a Record Date as may be fixed by the Board or Share Issue Committee of Directors.

Source : Equity Bulls

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