Saven Technologies has informed about outcome of board meeting held on 23rd March, 2018. Pursuant to the Scheme of Reduction of Share Capital approved by the Honble National Company Law Tribunal, Hyderabad, vide its order dated 08.01.2018, the Board has issued equity shares with face value of Re 1 each per equity share to the shareholders whose name appeared as on 20th March, 2018, being the Record date and by returning to the shareholders an amount of Rs 9 per equity share of Rs10 each held by them. There will be no change in the number of shares held by the shareholders i.e., only the face value of shares is reduced from Rs 10 to Re 1.
The above information is a part of company’s filings submitted to BSE.
