| To issue 1,54,10,000 Equity Shares by way of Preferential Issue on private placement basis to the following persons:
1. Infrastructure Development Finance Company Ltd: 87,40,000 No of shares to be allotted
2. Promoter Companies: 66,70,000 No of shares to be allotted
The pricing for the above shares will be as per SEBI (Disclosure & Investor Protection) Guidelines, 2000 governing the Preferential Issues.
B. To expand its existing production capacity from 1.40 million MT per annum to 3.50 million MT per annum, The cost of the project estimated to be Rs 400 crores (approximately) is proposed to be funded partly by way of loans from Financial Institutions and partly by way of internal accruals.
Further the Company has informed that, an Extra Ordinary General Meeting of the members of the Company, inter alia, for the purpose of a preferential Issue, as aforesaid, will be held on August 21, 2007.
Andhra Cements Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the Members of the Company will be held on August 21, 2007, inter alia, to transact the following business:
1. Increase in the Authorised Share Capital of the Company from Rs 125,00,00,000 divided into 12,00,00,000 Equity Shares of Rs 10/- each, and 5,00,000 Cumulative Redeemable Preference Shares of Rs 100/- each, to Rs 140,00,00,000/- divided into 13,50,00,000 Equity Shares of Rs 10/- each and 5,00,000 Cumulative Redeemable Preference Shares of Rs 100/- each and consequential amendment in the Memorandum & Article of Association of the Company.
2. To create, issue, offer and allot in one or more tranches, in such manner and upon such terms and conditions as may be deemed appropriate by the Board, in its absolute discretion by way of preferential allotment upto 154,10,000 fully paid up equity shares of Rs 10 each, at a price of Rs 28.60 per equity share (i.e. at a premium of Rs 18.60 per share) and the aggregate amount so issued shall not exceed Rs 44.08 crores, as per the price based on the guidelines for preferential issues" issued by SEBI under SEBI (Disclosure & investor Protection) Guidelines, 2000 on such other terms and conditions, as the Board may deem appropriate in its absolute, discretion, to Infrastructure Development Finance Company Limited (IDFC) and the Promoters Association Companies (Promoters), subject to necessary provisions & approvals.
3. To borrow from time to time for the Company's business, any sum or sums of money which together with the moneys already borrowed by the Company (apart from the borrowings from the Company's bankers in the ordinary course of business) may exceed the aggregate of the paid up capital and its free reserves that is to say, reserves not set apart for any specific purpose, provided that the total amount so borrowed by the Board shall not at any time exceed Rupees One Thousand Crores.
(As Per BSE Announcement Website Dated on 02/08/2007)
Andhra Cements Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on August 21, 20007, have considered and approved the following:
1. Increase of Authorised Capital from Rs 125,00,00,000/- divided into 12,00,00,000 Equity Shares of Rs 10/- each and 5,00,000 Cumulative Redeemable Preference Shares of Rs 100/- each, to Rs 140,00,00,000/- divided into 13,50,00,000 Equity Shares of Rs 10/- each and 5,00,000 Cumulative Redeemable Preference Shares of Rs 100/- each.
2. Alternation of Memorandum and Articles of Association of the Company with regard to the Increase of Authorised Capital from Rs 125 crores to Rs 140 crores.
3. Issue of Equity Shares by way of preferential allotment upto 154,10,000 fully paid up equity shares of Rs 10 each, at a price of Rs 28.60 per equity share (i.e. at a premium of Rs 18.60 per share) and the aggregate amount so issued shall not exceed Rs 44.08 crores, as per the price based on the "guidelines for preferential issues" issued by SEBI under SEBI (Disclosure & Investor Protection) Guidelines, 2000, on such other terms and conditions, as the Board may deem appropriate in its absolute discretion to Infrastructure Development Finance Company Ltd (IDFC) and the Promoters / Associate Companies ("Promoters").
4. Increase of Borrowing Powers of Board of Directors of the Company from Rs 300 crores to
Rs 1000 crores.
(As Per BSE Announcement Website Dated on 23/08/2007)
Andhra Cements Ltd has informed BSE that a meeting of Committee of Board of Directors (CoD) of the Company will be held on September 04, 2007, to consider the allotment of 87,40,000 equity shares to Infrastructure Development Finance Company Ltd (IDFC) on preferential basis in terms of the Resolution passed by the Members at Extra ordinary General Meeting held on August 21, 2007.
(As Per BSE Announcement Website Dated on 03/09/2007)
Andhra Cements Ltd has informed BSE that Committee of Board of Directors (CoD) of the Company at its meeting held on September 04, 2007 has allotted 87,40,000 equity shares of Rs 10/- at a premium of Rs 18.60/- per share to M/s. Infrastructure Development Finance Company Ltd (IDFC) on preferential basis as per the SEBI Guidelines and in terms of the Resolution passed by the shareholders at Extra-ordinary General Meeting held on August 21, 2007.
(As Per BSE Announcement Website Dated on 04/09/2007) |