|National Aluminium Company Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the Company will be held on March 05, 2011, inter alia, to transact the following :
1. To increase the Authorised Share capital of the Company from Rs. 1300 crores to Rs. 3000 crores.
2. Sub-dividing the Equity Shares of the Company, including the paid-up equity shares, such
that the Equity Shares of the Company of the face value of Rs. 10 (Rupees ten) each be sub-divided into two Equity Shares of the face value of Rs. 5 (Rupees five) each and consequently, the Authorized Share Capital of the Company of Rs.
3000,00,00,000 (Rupees three thousand crores) would comprise of 600,00,00,000 (Six hundred crores) Equity Shares of Rs. 5 each with effect from the Record Date to be determined by the Board for this purpose, subject to necessary provisions and approvals. 3(a). To insert a new Article 86e in the Articles of Association after Article 86, for Capitalization of profits,subject to necessary provisions and approvals. 3(b). Authority to the Board of Directors of the Company (the Board, which term shall also include any Committee thereof) for capitalizing a sum not exceeding t 644,30,96,280 (Rupees six hundred forty four crores thirty lakes ninety six thousand two hundred eighty only) representing a part of the undistributed profits standing to the credit of General Reserve of t 9,751.27 crores as per the audited accounts for the financial year ended March 31, 2010 and the said amount be transferred to the Share Capital Account and be applied for issue and allotment of 128,86,19,256 Equity Shares oft 5 (Rupees five) each to and amongst the members of the Company whose names shall appear on its Register of Members on such date as may hereafter be determined by the Board and hereinafter called the ?Record Date in proportion to the equity shares held by them respectively in the Company as on the Record Date and to apply the said sum oft 644,30,96,280 (Rupees six hundred forty four crores thirty lakes ninety six thousand two hundred eighty only) in paying up in full, the unmissed equity shares of the Company oft 5 (Rupees five) each at par, such shares (hereinafter referred to as the Bonus Shares) be allotted, distributed I credited as fully paid up to and amongst such members in the proportion of ONE such B onus Share for every existing ONE equity share held by them respectively as on the Record Date and that the Bonus shares so distributed shall, for all purposes, be treated as an increase in the nominal amount in the capital of the Company held by each such member, and not as income. 4(a) Amendment to Articles of Association of the Company. - 4(a)To insert a new Article 67A in the Articles of Association after Article 67. 5(b) To consider and if thought fit, to pass the following resolution as a Special Resolution with or without modification(s): -5(b) To create, offer, issue and allot at any time to or to the benefit of such person(s) who are in employment of the Company and its subsidiaries, including Directors of the Company, whether working in India or abroad or otherwise, except the Promoter Directors, under the Employee Stock Option Plan-20 11 (hereinafter referred to as the ESOP Scheme 2011), such number of equity shares as on the date of grant of option(s) at such price, in one or more tranches and on such terms and conditions as may be fixed or determined by the Board/Committee from time to time, subject to necessary provisions and approvals.
National Aluminium Company Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 05, 2011, inter alia, have approved the following :
1. Increase in Authorised Share Capital of the Company from Rs. 1300 crores to Rs. 3000 crores.
2. Sub-division of face value of equity share of Rs. 10/- each fully paid up into 2 (Two) equity shares of Rs. 5/- each fully paid-up.
3. Issue of bonus shares to the existing shareholders of the Company in the proportion of 1 (one) Bonus share for every 1 (one) existing fully paid-up equity share held.
4. Amending Articles of Association providing for Employees Stock Option Plan, and
5. Consequent amendments to the Memorandum and Articles of Association of the Company.
(As Per BSE Announcement Website dated on 05.03.2011)
National Aluminium Company Ltd has submitted to BSE a copy of the proceedings of the Extra Ordinary General Meeting (EGM) of the Company held on March 05, 2011.
(As Per BSE Announcement Dated on 15.03.2011)