Outcome of EGM

Shah Construction Company Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 10, 2011, inter alia, have accorded to the following:

1. Increase in Authorized Share Capital of the Company from Rs. 2,00,00,000/- (Rupees Two Crores Only) divided into 1,80,000 Equity Shares of Rs. 100/- each and 20,000 Preference Shares of Rs. 100 each to Rs. 50,00,00,000/- (Rupees Fifty Crores only) divided into 1,80,000 Equity Shares of Rs. 100/- each and 48,20,000, 7% - Cumulative Redeemable Preference Shares of Rs. 100/- each and the consequential alternations in the Memorandum & Articles of Association of the Company.

2. Preferential Issue of 48,20,000 7% - Cumulative Redeemable Preference Shares of the face value of Rs. 100/- each for a price of Rs. 100/- each under Section 81(1A) of the Companies Act, 1956 to Anchor Leasing Private Limited against their outstanding loans and/or to other bodies corporate/individuals as may be decided by the board.

Source : BSE - >www.bseindia.com

Published on March 10, 2011
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