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Outcome of Board Meeting

| Updated on July 29, 2011 Published on July 29, 2011

Kumar Wire Cloth Manufacturing Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 25, 2011, inter alia, has deferred consideration of the following agenda item pending the outcome of the hearing fixed on August 16, 2011 by Appellate Authority for Industrial and Financial Reconstruction:-

"Pursuant to Order dated February 25, 2010 passed by Honble BIFR in Reference No.45/03 & 48/05 and subject to approval of Shareholders to consider the following:

a. Reduction of the existing Paid-Up Equity Capital of Rs. 315 Lakh by 80%.

b. After reduction of Existing paid-up capital by 80% to issue 8,00,000 Equity Shares of Rs. 10/- each to the promoters and 7,00,000 Equity Shares of Rs. 10/- each to the Strategic Investors on Preferential basis”.

Source : BSE - >www.bseindia.com

Published on July 29, 2011
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