CONSOLIDATION OF SHARE-CERTIFICATES
1. Subject -
Sub-division of consolidation of share-certificates.
2. Passing Authority - Board of Directors.
3. Nature of the Resolution -
Resolution with simple majority.
4. Specimen Resolution(s):
"RESOLVED
THAT: no charge be made by the Company for the issue of new certificates which
are necessary to give effect to a request from a registered share holder either
to subdivide or to consolidate his holding with a view to providing marketable
lot as defined by the Chennai Stock Exchange regulations."
5. Guidelines:
1)
Sub-division or consolidation of share-certificates is different from
sub-division or consolidation of shares.
In the case of latter, resolution of the company in general meeting is
necessary.
2) The
resolution is passed in compliance with the listing conditions of stock
exchange.
6. Filing: Nil.