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Board recommends Bonus Issue

| Updated on July 11, 2016 Published on July 11, 2016

Ultracab (India) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 11, 2016 at 11.00 A.M. and concluded on 12.30 P.M., inter alia, has recommended for the approval of the members in the upcoming Annual General Meeting for following matters:

1. To re-appoint Mr. Nitesh Vaghasiya as Chairman cum Managing Director.

2. For appointment of Statutory Auditor to fill casual vacancy.

3. Increase in Authorised Share Capital of the Company from existing Rs. 10,00,00,000 (Rupees Ten Crore) divided into 1,00,00,000 (One crore) equity shares of Rs. 10/- each to Rs. 15,00,00,000 (Rupees Fifteen crore) divided in to 1,50,00,000 (One crore fifty lack) equity shares of Rs. 10/- each.

4. Consequently alteration in capital clause of Memorandum of Association.

5. Issue of Bonus Shares by capitalising the reserves to the shareholders of the company in the proportion of 1:2 (One Bonus share for every Two shares held) which will be subject to the approval of the members.

6. Migration from BSE SME Plateform to Main Board of BSE Limited.

Source : BSE - >www.bseindia.com

Published on July 11, 2016
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