Mahalaxmi Rubtech EGM approves bonus, rights issue

Mahalaxmi Rubtech Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 04, 2007, inter alia, have passed the following ordinary / special resolutions:

1. For issue of Bonus Shares in the proportion of 1 new equity share for every 4 existing equity shares held in the Company on the record Date to be decided by the Board of Directors of the Company, as per resolution set out in the notice.

2. For issue of equity shares on the Rights basis aggregating to the extent of Rs 30 crores inclusive of premium as per resolution setout in the notice.

3. For increase in borrowing limit to the extent of Rs 50 Crores as per resolution set out in the notice.

4. For increase in Charge / mortgage limit to the extent of Rs 50 Crores as per resolution set out in the notice.

Source : Equity Bulls

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