Board of Setco Automotive approves sub-division of shares
At meeting held on 15 July 2015
Setco Automotive announced that the Board of Directors of the Company at its meeting held on 15 July 2015, inter alia, has approved the following, subject to the approval of the shareholders:1. Sub-division of each Equity Share of Rs. 10/- each of the Company to 5 (five) Equity Shares of Rs. 2/- (Rupees Two only) each; and consequent alteration of Clause V of the Memorandum of Association of the Company. Accordingly, the Authorised Share Capital of the Company will be Rs. 50,00,00,000/- (Rupees Fifty Crore only) divided into 25,00,00,000 (Twenty Five Crore) Equity Shares of Rs. 2/- (Rupees Two only) each.
2. Re-designation of Udit Sheth, Executive Director as the Joint Managing Director of the Company with effect from 15 July 2015.
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