| Approved the notice of Extraordinary General Meeting of the Company and decided to convene the meeting on November 12, 2007.
IT People India Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 12, 2007, inter alia, to transact the following:
1. To create, offer, issue, allot, and deliver in one or more tranches, on preferential basis upto 75,00,000 (Seventy-five lacs only) share warrants ("Share Warrants") to Einfratech Systems India Pvt. Ltd, prospective investor / proposed allottee.
And each share warrant convertible at the sole option of the holder, any time before the expiry of 18 months from its allotment into 1 (One) fully paid up Equity share of the Company of Rs 2/- each at an exercise price of Rs 36/- (Rupees Thirty-six only) determined in accordance with Clause 13.1.1 of the Guidelines for Preferential Issue of SEBI (DIP) Guidelines, 2000 as amended from lime to time, 10% of which shall be payable on the allotment of the share warrants and balance on or before eighteen months from the date of allotment failing which the money received for the allotment shall be forfeited by the Company, subject to necessary provisions & approvals.
2. To create, offer, issue, allot and deliver, at its sole discretion, Equity Shares / Warrants / Foreign Currency Convertible Bonds (FCCBs) / Partly Convertible Debentures (PCDs) / Optionally Convertible Debentures (OCDs) / Fully Convertible Debentures (FCDs), Debentures attached with warrants whether secured or unsecured / Global Depository Receipts (GDRs) / American Depository Receipts (ADRs) / Bonds / any other Equity related instruments with or without warrants ("Security(ies)") in one or more currencies in aggregating to (including premium) Rs 100,00,00,000/- (Rupees One Hundred Crores only) or equivalent to USD 25 Million (United States Twenty-five Million Dollars) to be subscribed in Indian and / or one or more foreign currencies, which, at the option of the holders of the security and / or at the option of the Company, may be converted into Equity Shares of the Company, such offer, issue and allotment of securities and conversion of such securities into equity shares of the Company to be made In one or more tranches, through Prospectus, Information Memorandum, Offering Circular, Offer Letter and any other mode, whether public or on private placement basis and combination thereof, to Indian Public, Foreign Investors, Foreign Institutional Investors (FIIs), Non-Resident Indians (NRIs), Overseas Corporate Bodies (OCBs), Bodies Corporate, Association of Persons, Banks, Financial Institutions, Mutual Funds Trusts, promoters, person acting in concert of the Company and other entities / authorities ("Investors"), whether such investors are existing equity shareholders of the Company or not, at a price / prices in accordance with the applicable law and otherwise on such terms and conditions as may be decided at the time of offer, issue and allotment, by the Board in accordance with the rules, regulations, terms, conditions as may be decided by the Board at the time of issue or allotment of such securities, subject to necessary provisions & approvals.
3. To allow Foreign Institutional Investors ("FIIs") and their sub accounts registered with the Securities and Exchange Board of India ("SEBI") In this regard to acquire shares of the Company through direct subscriptions or through Stock Exchanges in India under Portfolio Investment Scheme, and / or in accordance with other permissible modes, up to a maximum limit of 49% of the paid up Equity Share Capital of the Company subject to the condition that the equity shareholding of each FII / sub account of FII in the Company shall not at any time exceed the limits as may be prescribed by the SEBI or such other applicable authority from time to time, subject to necessary provisions & approvals.
4. To borrow from time to time any sum or sums of money, not exceeding at anytime the sum of Rs 125.00 crores (Rupees one hundred twenty five crores) on such terms and conditions as the Board may deem fit, notwithstanding that the monies so borrowed together with the monies already borrowed by the Company (apart from temporary loan obtained from the Company's bankers in the ordinary course of business) exceeds in the aggregate of the Paid up Share Capital of the Company and its Free Reserves, that is to say, reserves not set apart for any specific purpose, subject to necessary provisions & approvals.
(As per BSE Announcement website dated on 26/10/2007)
IT People India Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 12, 2007, inter alia, have unanimously passed the following resolutions:
1. To create, offer, issue, allot, and deliver in one or more tranches, on preferential basis upto 75,00,000 (Seventy-five lacs only) share warrants ("Share Warrants") to Einfratech Systems India Pvt. Ltd and each share warrant convertible at the sole option of the holder, any time before the expiry of 18 months from its allotment into 1 (One) fully paid up Equity share of the Company of Rs 2/- each at an exercise price of Rs 36/- (Rupees Thirty-six only) determined in accordance with Clause 13.1.1 of the Guidelines for Preferential Issue of SEBI (DIP) Guidelines, 2000 as amended from lime to time, 10% of which shall be payable on the allotment of the share warrants and balance on or before eighteen months from the date of allotment failing which the money received for the allotment shall be forfeited by the Company, subject to necessary provisions & approvals.
2. To create, offer, issue, allot and deliver, at its sole discretion, Equity Shares / Warrants / Foreign Currency Convertible Bonds (FCCBs) / Partly Convertible Debentures (PCDs) / Optionally Convertible Debentures (OCDs) / Fully Convertible Debentures (FCDs), Debentures attached with warrants whether secured or unsecured / Global Depository Receipts (GDRs) / American Depository Receipts (ADRs) / Bonds / any other Equity related instruments with or without warrants ("Security(ies)") in one or more currencies in aggregating to (including premium) Rs 100,00,00,000/- (Rupees One Hundred Crores only) or equivalent to USD 25 Million (United States Twenty-five Million Dollars) to be subscribed in Indian and / or one or more foreign currencies, which, at the option of the holders of the security and / or at the option of the Company, may be converted into Equity Shares of the Company, such offer, issue and allotment of securities and conversion of such securities into equity shares of the Company to be made in one or more tranches, through Prospectus, Information Memorandum, Offering Circular, Offer Letter and any other mode, whether public or on private placement basis and combination thereof, to Indian Public, Foreign Investors, Foreign Institutional Investors (FIIs), Non-Resident Indians (NRIs), Overseas Corporate Bodies (OCBs), Bodies Corporate, Association of Persons, Banks, Financial Institutions, Mutual Funds Trusts, promoters, person acting in concert of the Company and other entities / authorities ("Investors"), whether such investors are existing equity shareholders of the Company or not, at a price / prices in accordance with the applicable law and otherwise on such terms and conditions as may be decided at the time of offer, issue and allotment, by the Board in accordance with the rules, regulations, terms, conditions as may be decided by the Board at the time of issue or allotment of such securities, subject to necessary provisions & approvals.
3. To allow Foreign Institutional Investors ("FIIs") and their sub accounts registered with the Securities and Exchange Board of India ("SEBI"). In this regard to acquire shares of the Company through direct subscriptions or through Stock Exchanges in India under Portfolio Investment Scheme, and / or in accordance with other permissible modes, up to a maximum limit of 49% of the paid up Equity Share Capital of the Company subject to the condition that the equity shareholding of each FII / sub account of FII in the Company shall not at any time exceed the limits as may be prescribed by the SEBI or such other applicable authority from time to time, subject to necessary provisions & approvals.
4. To borrow from time to time any sum or sums of money, not exceeding at anytime the sum of Rs 125.00 crores (Rupees one hundred twenty five crores) on such terms and conditions as the Board may deem fit, notwithstanding that the monies so borrowed together with the monies already borrowed by the Company (apart from temporary loan obtained from the Company's bankers in the ordinary course of business) exceeds in the aggregate of the Paid up Share Capital of the Company and its Free Reserves, that is to say, reserves not set apart for any specific purpose, subject to necessary provisions & approvals.
(As Per BSE Announcement Website Dated on 13/11/2007) |
| (Revised)
has, subject to the necessary compliances and directions of the Stock Exchanges / SEBI or any appropriate authority, considered the following business:
1. Issue of 5% Redeemable Optionally Convertible Bonds (ROCS) of the face value of Rs 80/- not exceeding the total value of Rs 60 million to the Promoters of the Company.
2. To raise funds way of various options that may be available and at such times as the Board may think fit by way of Public Issue, Rights Issue, ADR / GDR etc, to such persons as may be determined by the Board upto an aggregate value of Rs 1,250 million.
3. To Increase the Authorised Share Capital from present 150 million to Rs 250 million.
4. Proposed Split up of the equity shares of the Company from the present face value of Rs 10/- per share to Rs 2/- per share subject to approval of members.
5. Extra Ordinary General Meeting for passing of necessary resolutions is proposed to be held on February 10, 2006.
& the following changes in directorate were made at the meeting of the Board of Director held on January 09, 2006:
1. Mr. Ketan Sheth, Chairman of the Company was appointed as Managing Director of the Company with effect from January 09, 2006 for the tenure of 5 (Five) years.
2. Letter of resignation from Mrs. Sonal Sheth dated January 01, 2006 from directorship of the Company, due to pre-occupation was placed and noted by the Board.
3. Letter of resignation from Mr. Ranjit Prabhu dated January 01, 2006 from directorship
of the Company, due to pre-occupation was placed and accepted by the Board.
EGM 10/02/2006
To consider :
1. To sub-divide each of the Equity Shares of the nominal value of Rs 10/- each in the share
capital of the Company fully paid up into 5 Equity Shares of the nominal value of Rs 2/- each
fully paid up such that the proportion between the amount paid on each reduced share shall
be the same as it was in the case of the share from which the reduced share is derived &
consequential Memorandum of Association of the Company.
2. To create, issue, offer and allot Equity Shares, Redeemable and / or Convertible Preference
Shares, Partly or fully Convertible debentures, American Depository Receipt (ADR), Global
Depository Receipt (GDR), Foreign Currency Convertible Bond (FCCB), other security or
securities, warrants entitling the holders to subscribe for and have allotted equity Shares at
Par and / or premium, aggregating to the value of Rs 1250 million including green shoe option,
if any, as may be determined by the Board, subject to necessary approvals & provisions.
3. To offer, issue and allot 7,50,000 5% Redeemable Optionally Convertible Bonds (ROCB) of
the face value Rs 80/- each to the Promoter of the Company on such terms and conditions relating to redemption / conversion into equity shares subject to necessary approvals & provisions.
4. Appointment of Mr Adi Cooper as Whole-time Director of the Company for a period of 3
years with effect from October 11, 2005.
5. Appointment of Mr Ketan Sheth as Managing Director of the Company for a period of 5
years with effect from January 09, 2006.
6. To Grant of Stock Options out of the existing IT People Equity Option Plan, 2005 which is
in force pursuant to the shareholders resolution passed on September 30, 2004, in accordance
with Securities and Exchange Board of India (Employee Stock Option Scheme & Employee
Stock Purchase Scheme) Guidelines, 1999, to the Non Executive Directors, including Independent Directors duly appointed by the Company subject to necessary approvals & provisions.
(As per BSE Bulletin dated on 19/01/2006)
The company has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 10, 2006, inter alia, have unanimously passed the following resolutions:
1. Resolution u/s 16, 94 of the Companies Act, 1956 for Subdivision of each of the Equity Share of Rs 10/- each fully paid up into 5 Equity Shares of Rs 2/- each fully paid up, Increase in authorised capital from the present Rs 150 million
to Rs 250 million and consequent amendment of Memorandum of Association of the Company.
2. Resolution u/s 81, 81(1A) of the Companies Act, 1956 for issue, offer & allotting securities through various options upto the limit of Rs 1250 million and consequently authorizing the Board of Directors to exercise the powers on behalf
of the Company.
3. Resolution u/s 81, 81(1A) of the Companies Act, 1956 for the preferential allotment of 5% 7,50,000 Redeemable Optionally Convertible Bonds at a premium of Rs 70 per Bond.
4. Appointment of Mr. Adi Cooper as Wholetime Director of the Company, for the period of three years w.e.f October11, 2005.
5. Appointment of Mr. Ketan Sheth, (Chairman of the Company) as Managing Director of the Company for the period of five years w.e.f. January 09, 2006.
6. Granting of Stock Options to the Non executive Directors of the Company.
(As per BSE Bulletin dated on 10/02/2006) |