The following resolutions were passed at the company’s Extra-ordinary General Meeting:
Resolution 1:
1. “That the Authorized Share Capital of the company be increased by ten million by the creation of an additional Twenty Million new ordinary shares of 50 cents each, over and above the existing authorized share capital of $25,000,000 of the company, such new ordinary shares of 50 cents to rank pari passu in all respect with the existing ordinary shares in the company.”
2. To allot and issue shares to Grace, Kennedy & Company Ltd.
Resolution 2:
The issue of 27.3 million ordinary shares of 50 cents each in the company to Grace, Kennedy& Company Limited, such shares being treated as wholly paid up in exchange for the transfer by Grace to the Company, of the entire issued share capitals of Rapid and Sheffield Company Limited and Agro Grace Limited, as and when the Directors so determine.
