| The Board has taken the following decisions:
The Board, subject to the approval of members in the Extra Ordinary General Meeting scheduled to be held on February 20, 2008, has decided to issue on preferential allotment basis as per SEBI guidelines, 3,15,000 Equity Shares of Rs 10/- each for cash at a price of Rs 75/_ per Equity Shares (including premium of Rs 65/- per equity share) to M/s. D B Corps Ltd (3,00,000 shares) and M/s. Vito India Advisors Pvt Ltd (15,000 shares) and also 7,00,000 (Seven Lacs only) equity Warrants of Rs 85/_ entitling the warrant holder from time to time in one or more tranches at the option to Convert the warrants into and apply for equal number of equity shares of Rs 10/- each for cash at a price of Rs 85/_ per equity share (including premium of Rs 75/- per equity share) to the promoters and others as per the list being circulated in the Notice for the Extra Ordinary General Meeting.
The Board passed enabling resolution for convening the Authorised Preferential Share Capital, subject to the approval of members in Extra ordinary General Meeting.
The Board finalised February 20, 2008 as the date for the Extra Ordinary General Meeting of the Members of the Company. |
| EGM 02/01/2006
To consider approval of members of the Company for issue and allotment of 10,00,000 Equity Shares of Rs 10/- each at a premium of Rs 2.50 per Share, the price of which has been determined in accordance with SEBI guidelines taking into consideration the relevant date i.e. December 03, 2005.
EGM 02/01/2006
To consider
1. Increase in Authorised Share Capital of the Company from Rs 5,50,00,000/- divided into
48,50,000 Equity Shares of Rs 10/- each and 65,000 Preference Shares of Rs 100/- each to Rs
7,00,00,000/- divided into 63,50,000 Equity Shares of Rs 10/- each and 65,000 Preference
Shares of Rs 100/- each by creation of an additional 15,00,000 Equity Shares of Rs 10/- each & Consequential amendment in Memorandum & Articles of Association of the Company.
2. Approval of members of the Company for issue and allotment of 10,00,000 Equity Shares of Rs 10/- each at a premium of Rs 2.50 per Share, the price of which has been determined in accordance with SEBI guidelines taking into consideration the relevant date i.e. December 03, 2005.
3. Authority to the Board to borrow money (including by way of External Commercial
Borrowings in foreign denominated currencies from any foreign sources / foreign countries
as prescribed by the guidelines in this regard) (apart from temporary loans obtained from the
Company's bankers in the ordinary course of business) upto an amount not exceeding Rs
50,00,00,000/-, subject to necessary approvals and provisions.
(As per BSE Bulletin dated on 08/12/2005)
The company has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 02, 2006, inter alia, have unanimously passed the following resolutions:
1 Increase in Authorised Share Capital from Rs 5,50,00,000/- divided into 48,50,000 Equity Shares of Rs 10/ each and 65,000 Preference Shares of Rs 100/- each to Rs 7,00,00,000/- divided into 63,50,000 Equity Shares of Rs 10/- each and
65,000 Preference Shares of Rs 100/- each by creation of an additional 15,00,000 Equity Shares of Rs l0/- each and alteration of Memorandum of Association of the Company consequent upon the increase in the Authorised Share Capital.
2 Alteration of the Articles of Association consequent upon increase in the Authorised Share Capital.
3. Consent to the Board of Directors to offer, issue and allot 10,00,000 Equity Shares of Rs 10/- each for cash at par at a premium of Rs 2.50/- per share on Preferential Allotment basis to certain persons / entities including the promoters of
the Company, whether such allottees arc shareholders of the Company or not.
4. Authority to Board of Directors of the Company to borrow in excess of the aggregate of the paid-up capital of the Company and its free Reserves - upto a limit of Rs 500 million at any time, under Section 293(1)(d) of the Companies
Act 1956.
(As per BSE Bulletin dated on 04/01/2006) |