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Outcome of Board Meeting

| Updated on July 20, 2011 Published on July 20, 2011

NCL Research & Financial Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 20, 2011, inter alia, have approved the following;

1. To Increase Authorized Capital from Rs. 4,00,00,000/- divided into 40,00,000 Equity Shares of Rs. 10/- each to Rs. 5,50,00,000/- divided into 55,00,000 Equity Shares of Rs. 10/- each subject to the approval of Shareholders in Extra-Ordinary General Meeting.

2. To alter & substitute Capital Clause of Memorandum and Articles of Association to give effect of increased Share Capital.

3. To issue and allot upto 15,00,000 Equity Shares of Face Value of Rs. 10/- each to Promoters & Non-Promoters subject to the approval of Shareholders by way of Postal Ballot as per Section 192A of the Act, the price of issue of Equity Shares will be in accordance with the provisions of provisions of SEBI (Issue of Capital & Disclosure Requirement) Regulations, 2009 and the relevant date for the above purpose is December 29, 2010.

4. To convene Extra Ordinary General Meeting (EOGM) of the Members of the Company on August 19, 2011, seeking their approval for above businesses.

Source : BSE - >www.bseindia.com

Published on July 20, 2011
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