At meeting held on 17 January 2019
The Board of Burnpur Cement at its meeting held on 17 January 2019 has re-considered the proposed reduction of capital and decided that up on reduction of the paid up value of each equity share from Rs. 10/ each to Rs.2/ each, simultaneously five equity shares of Rs. 2 each shall be consolidated into one equity share of Rs. 10 each. Accordingly, in effect, for every five equity shares of Rs. 10 each, each the shareholder shall get one equity share of Rs. 10 each.Since the reduction of capital shall be on proportionate basis, there shall not be any change in percentage shareholding of any shareholder of the Company, except adjustment due to fractional entitlement.
The proposed reduction of capital shall be subject to approval of the members, National Company law Tribunal and other requisite authority.
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