Amendments to MOA and AOA in the EGM held on 8th April 2026
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Vega Jewellers Limited held an Extra Ordinary General Meeting on 8th April 2026 where shareholders approved the adoption of new Memorandum of Association (MOA) and Articles of Association (AOA). The MOA was updated to comply with the Companies Act, 2013 requirements, replacing the old format under the 1956 Act. The main objects clause remained unchanged, but the incidental objects clause was renamed and the 'no other objectives' declaration was removed for compliance. A new Clause 39A was added to the AOA allowing the company to capitalize reserves and profits to issue bonus shares to shareholders.
This is primarily a compliance update aligning the company's constitutional documents with current law. The addition of Clause 39A provides flexibility for future bonus share issuances, which could be positive for shareholders when utilized.