Outcome of Board Meeting

Consolidated Securities Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 20, 2011, inter-alia, has considered and approved the following:

1. Issue of equity shares on right basis to the existing shareholders of the company. The Board has also constituted a committee of directors ("Offer committee") to consider and approve the specific aspects in relation to this matter.

The other terms including the size of the offer, record date, pricing, ratio etc will be decided by the Offer Committee in due course in consultation with the intermediaries involved in the process.

2. Alteration in the Main objects clause of the Memorandum of Association of the company.

3. Increase of Authorized share capital.

All the aforesaid matters are subject to the shareholders approval. The draft postal ballot notice pursuant to Section 192A of the Companies Act, 1956 read with Companies (Passing of resolution by postal ballot) Rules, 2011 to seek shareholders approval on the aforesaid and other matters, has been approved by the board of directors.

Source : BSE - >www.bseindia.com

Published on July 20, 2011


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