Board of Arnold Holdings approves sub-division of shares

At meeting held on 13 November 2014

Arnold Holdings announced that the Board of Directors of the Company at its meeting held on 13 November 2014, inter alia, has transacted the following;

1. Increase of Authorised Capital of the Company:-

In view of business expansion, the Board of Directors of the Company has decided to increase the Authorised Capital of the Company from Rs. 5,05,00,000 to Rs. 50,00,00,000 subject to the approval of the Shareholders by Postal Ballot and E-Voting.

2. Sub-Division of face value of Equity Shares:-

The Board has decided to sub-division of face value of Equity Shares of the Company, including the paid-up shares, such that each existing Equity Share of the Company of the face value of Rs. 10/- (Rupees Ten) each, shall be sub-divided into Five Equity Shares of face value of Rs. 2/- (Rupees Two) each, subject to approval of the Shareholders by Postal Ballot and E-Voting.

3. Alteration of Memorandum of Association of the Company;-

The Board has approved the alteration of Capital Clause of Memorandum of Association of the Company, due to sub-division of Equity Shares of the Company from the face value of One Equity Share of Rs. 10/- (Rupees Ten) each to Five Equity Shares of Rs 2/-(Rupee Two) each, subject to approval of the Shareholders by Postal Ballot and E-Voting.

4. Adoption of new set of Articles of Association to comply with the Companies Act, 2013:-

The Board has recommended adopting new set of Articles of Association of the Company to comply with Schedule I of the Companies Act 2013, subject to the approval of Shareholders by Postal Ballot and E-Voting.

5. Change in Registered Office of the Company:-

In view of business opportunity in Mumbai, the Board of Directors of the Company has decided to shift Registered Office of the Company from Kolkata, West Bengal to Mumbai, Maharashtra, subject to the approval of the Shareholders by Postal Ballot and E-Voting.

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