At meeting held on 10 April 2017
Hindustan Composites announced that the Board of Directors of the Company at its meeting held on 10 April 2017, inter alia, considered the following matters:1)Sub-division of existing 1 equity share having face value of Rs. 10/- each fully paid-up into 2 equity shares having F.V. of Rs. 5/- each,
2)Increase in Authorized Share Capital of the Company from Rs. 6 crore to Rs. 8 crore divided into 1.6 crore equity shares of Rs. 5/- each and subsequent alteration of Capital Clause of Memorandum of Association to give effect to the sub-division of shares and increase in the authorized share capital,
3)Issue of bonus shares in proportion of 1:2 (Post split face value per equity share),
4)Decided to seek shareholders' approval through Postal Ballot Process for the proposed sub-division of shares, increase in authorized share capital, subsequent alteration of Capital Clause of MOA of the Company and issue of bonus shares.
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