|The Board has taken the following decisions:
To convene the Extra Ordinary General Meeting on February 11, 2008 to approve the preferential allotment.
Bhatinda Chemicals Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on February 11, 2008, inter alia, to create, offer, issue and allot up to 1,38,50,000 (One Crore thirty eight lacs fifty thousand) Warrants at Rs 50 (Rs Fifty Only) per warrant, on a preferential basis to the promoters and the bodies corporates other than the promoters, as detailed in the Explanatory Statement forming part of this Notice, with a right to subscribe to equal number of equity shares on conversion within a period of 18 months from the date of allotment of warrants of nominal value of Rs 10/- (Rupees Ten only) each fully paid up at a premium of Rs 40 per share which price is calculated in accordance with the Guidelines for Preferential Issue, issued by SEBI, so that the total number of equity shares to be issued by the Company upon conversion of the Warrants do not exceed 1,38,50,000 equity shares of Rs 10/- each, at a premium of Rs 40/- each on such terms and conditions as may be decided and deemed appropriate by the Board of Directors of the Company ("Board), at the time of Issue or allotment, subject to the overall guidelines governing such issue & necessary provisions & approvals.
The names of the Proposed Allottees of Warrants , whether or not they are existing members of the Company, along-with the No. of proposed warrants to be allotted to the promoters and bodies corporates other than promoters on Preferential issue basis, are detailed below:
- Name of the proposed allottee of Warrants:
A. PROMOTERS CATEGORY
(i) Shri. Rajinder Mittal : 20,00,000 no of Warrants
(ii) Shri. Manoj Mittal : 20,00,000 no of Warrants
(iii) Shri. Vithul Mittal : 6,25,000 no of Warrants
(iv) Smt. Sunita Mittal : 21,25,000 no of Warrants
(v) Smt. Rachna Mittal : 15,00,000 no of Warrants
B. NON-PROMOTERS CATEGORY
(i) Rollon Investments Pvt Ltd : 18,50,000 no of Warrants
(ii) Manoj Finvest Pvt Ltd : 18,50,000 no of Warrants
(iii) Master Trust Ltd : 5,00,000 no of Warrants
(iv) Sarva Priya Exports Pvt Ltd : 14,00,000 no of Warrants.
(As per BSE Announcement Website dated on 29/01/2008)