Gujarat Raffia Industries

Gujarat Raffia Industries Ltd has informed that High Court of Gujarat have approved Company's application for reduction of capital on September 21, 2007 permitting to reduce the paid up capital of the Company from Rs 9,98,95,550/- divided into 99,89,550 equity shares of Rs 10/- each fully paid up to Rs 4,99,47,750/- divided into 99,89,550 equity shares of Rs 5/- each fully paid up. The order issued by the High court of Gujarat were registered with The Registrar of Companies, Gujarat.

Further, now the Company wishes to subdivide its existing 99,89,550 fully paid equity shares of Rs 5/- each, into 49,94,775 fully paid up equity shares of Rs 10/- each, ranking pari passu in all respects with the existing equity share capital of the Company for which approval of members of the Company is required in General Meeting. The General Meeting of the Company is proposed to be conducted on October 15, 2007 for considering subdivision of shares.