Palred Technologies Limited - Outcome of Board Meeting (Reduction of Share Capital)
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| 01 Dec 2014 | |
| Palred Technologies Ltd has informed BSE that the Board of Directors of the Company at their meeting held on December 01, 2014, inter alia, has considered and approved the following:<BR><BR>1. After factoring the cash required for future business needs, it is proposed to reduce equity share capital/ paid-up equity shares by 60% on a proportionate basis by returning an amount of Rs. 16.50/- per share (Rs. 5/- face value and Rs. 11.50/- as premium from Securities Premium Account). (Eg: Rs. 16.50/-per share for 3 shares out of every 5 shares will be paid, the balance of 2 shares (40%) will remain at a face value of Rs. 5/- per share.<BR><BR>2. The draft scheme of reduction of capital under sections 100 to 104 of the Companies Act, 1956 and Section 52 of the Companies Act, 2013, by 60% of Equity Share Capital / paid-up equity shares in proportion to the current shareholding. | |
| View all announcements for Palred Technologies Limited | Source: BSE India |
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