Gujarat Foils Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 12, 2014, inter alia, transacted the following :
1. Approved to re-classify the Authorised Share Capital of the Company to Rs. 50,00,00,000 (Rupees Fifty Crores) divided into 2,50,00,000 (Two Crores Fifty Lakh) Equity Shares of Rs. 10/- (Rupees Ten Only) each and 2,50,00,000 (Two Crores Fifty Lakh) Preference Shares of Rs. 10/- (Rupees Ten Only) each and consequent changes in the Capital clause in Memorandum
of Association of the Company, subject to the approval of members of the Company.
2. Approved the issuance of upto 2,50,00,000 (Two Crores Fifty Lacs) Redeemable Preference Shares of Rs. 10 each at par or at a premium to Promoters and other private parties, subject to approval of the Members of the Company.
The Board has decided to seek the approval of the members through postal ballot on the above said matter as stated at serial number 1 & 2 above.
The Board has appointed Mr. Umesh Ved, Practising Company Secretary, Ahmedabad as Scrutinizer for conducting Postal Ballot process in a fair & transparent manner.
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