Reduction in Face Value of Share

Sample Letter to stock exchange ( NSE / BSE ) for reduction of face value of equity sharessplitting of face value of Securities to minimum face value

ROCKET/SE/2013-14/
February 12, 2013

National Stock Exchange of India Ltd.
Exchange Plaza
5th Floor, Plot No.C/1
G-Block, Bandra-Kurla Complex
Bandra (E)
Mumbai - 400 051.

Dear Sir

This is with reference to our letter No. ROCKET/SE/11-12 dt. 19.02.2013 informing you about holding a Board Meeting on 23rd February, 2013 to consider, inter alia, reduction of equity share capital of the Company.

Accordingly, a meeting of the Board of Directors was held on 23rd February, 2013.  The Board noted that the Company is a Sick Industrial Company and a Rehabilitation Scheme, as sanctioned by Board for Industrial and Financial Reconstruction, is under implementation.  The Board, after long deliberations and considering all issues involved, decided that an application be made to Board for Industrial and Financial Reconstruction seeking its approval to the reduction of face value of equity shares of the Company from Rs. 10/- per share to Rs. 4/- per share.  The reduction of the share capital, as mentioned hereinabove, shall  be effective on approval of the modification in the Rehabilitation Scheme by the Hon’ble Bench of BIFR.

Accordingly, the Company is making an application to the Board for Industrial and Financial Reconstruction for its approval to the reduction of the share capital, as mentioned hereinabove.

The Stock Exchanges and shareholders, in general, will be informed, as and when the approval is received from the Board for Industrial and Financial Reconstruction.

Thanking you

Yours faithfully,
for ROCKET SALES CORPORATION LTD.


AMIR KHAN
MANAGING DIRECTOR

Contd….. P/2

- 2 -

cc.to. :
1) The Secretary                                        4) The Secretary
   Calcutta Stock Exchange                           The Stock Exchange Mumbai
   Association Ltd.                                          Phiroze Jeejeebhoy Towers
   7 lyons Range                                               Dalal Street
   Kolkata  700 001                                        Mumbai - 400 001

2) The Secretary                                        5) Bombay Stock Exchange of
   The Delhi Stock Exchange                         India Ltd.,
   Association Ltd., DSE House                    14 /1 Dalal Street
   3/1 Asaf Ali Road                                        Mumbai 400 015
   New Delhi - 110 002                            

3) National Securities Depository      6) Central Depository
   Ltd., Trade World, 4th Floor              Service (India) Ltd.
   Kamala Mills Compound                    Phiroze Jeejeebhoy Towers
   Senapati Bapat Marg                           28th Floor
   Lower Parel                                          Dalal Street
   Mumbai 400 013                                               Mumbai 400 023



0 comments:

Post a Comment