Following this resolution, the authorized share capital
In order to have sufficient authorized share capital
to accommodate future expansion and growth, the Board also proposes to increase the authorized share capital
of the Company from HK$400,000,000 to HK$600,000,000 by the creation of an additional 1,000,000,000 consolidated shares upon the share consolidation becoming effective.
OTCBB:TERX) announces plans to reduce its outstanding and authorized share capital
on a 20 to 1 ratio.
On the back of this reverse CCTC is increasing its authorized share capital
to 45,000,000 shares.
The bank has authorized share capital
and paid-up capital of $2 billion and $1 billion respectively.
The Company has also recently filed a preliminary information statement with the SEC for a name change to IT Group Holdings Inc, to better reflect the telecommunications nature of the business and for a reduction in its authorized share capital
from 10,000,000,000 to 1,000,000,000 common shares without impacting on its issued share capital.
Presently, Jaiz Bank has an authorized share capital
of N13 billion.
Shareholders also approved proposals to reappoint the company's auditors, renew the company's authorized share capital
, and reduce its registered share capital.
Pandey, "The resolution increasing the company's authorized share capital
was never a reflection of any present intention by the Company to issue shares in the amount of the proposed increase, but rather was designed to give the company maximum flexibility to respond to ever-changing events and opportunities, and to provide a hedge against unforeseen and unanticipated circumstances.
the shareholders approved the creation of authorized share capital
for the purpose of the partial financing of the acquisition of the International Wealth Management business of Bank of America Merrill Lynch outside the United States.
As of Tuesday 21st June 2011, the Share Structure is as follows: 350,000,000 Authorized Share Capital
98,655,843 Free Trading Shares (Float) 160,305,793 Issued Share Capital
The EGM also acknowledged that the foregoing grants will all be made within the current authorized share capital