Business Daily from THE HINDU group of publications
Thursday, May 24, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, May 24, 2007 ePaper |
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Markets
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Stock Exchanges Our Bureau
Kolkata May 23 The Calcutta Stock Exchange, at an EGM held today, decided that it would go ahead with its plan to revise the face value of its shares, from Rs 250 to Re 1 each. Members approved a proposal to change the relevant clause in CSE's memorandum of association to facilitate the revision. Select members were inducted into an empowered committee, for which a few nomination papers were received earlier. A notice sent to members had mentioned that the new capital structure is Rs 10 lakh divided into 10 lakh shares of Re 1 each. Calcutta Stock Exchange Association Ltd (Demutualisation) Scheme, 2005, envisages that CSE has to divest a minimum 51 per cent of its shares to the public other than shareholders carrying trading rights.
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