| Essar Oil Ltd has informed BSE that the members of the Company had passed an enabling resolution on December 18, 2007 to raise upto US $ 2.00 billion by way of issue of GDSs/ADRs/FCCBs etc. to the Promoters / Promoter Group on preferential offer basis. Pursuant to this approval GDSs aggregating to US $300 million have already been issued. The Company is now seeking to raise funds to finance its various expansion plans. Pursuant to the same, the Board of Directors have now decided to seek approval of shareholders again to raise an amount upto the balance amount of US $1,700 million as per existing pricing norms notified by Ministry of Finance on November 21, 2008.
For this purpose, an Extraordinary General meeting of members is being convened on April 22, 2010.
Essar Oil Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the members of the Company will be held on April 22, 2010, inter alia, have also transact the following business:
- To create, offer, issue and allot, in one or more tranches, outside India, with or without premium, denominated in any foreign currency, such number of Global Depository Shares (GDRs) / Global Depository Receipts (GDRs) and / or American Depository Receipts (ADRs) and / or optionally / compulsorily convertible / redeemable Foreign Currency Convertible Bonds (FCCBs) and / or Fully / Partially Convertible FCCBs / GDRs / Loans and / or any other instruments / securities in the nature of Shares and / or warrants, naked or otherwise, convertible into Shares or otherwise, either in registered or bearer forms, and / or any such security convertible into equity shares with face value of Rs.10/- each or otherwise (financial instruments) or any combination of the financial instruments and the equity shares to be issued upon conversion / redemption or cancellation of such financial instruments, in the International Market, aggregating to an amount not exceeding US$ 1,700,000,000 (United States Dollars One thousand seven hundred million only), to Essar Energy Holdings Ltd, Mauritius, the existing Promoters and / or its associates / nominees / group companies / persons acting in concert, whether or not they are members of the Company, on preferential offer basis, to the extent and in the manner as may be decided by the Board in this behalf, subject to necessary provisions & approvals.
(As Per BSE Announcement Website dated on 30.03.2010)
Essar Oil Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 22, 2010, have passed an enabling resolution for raising of funds by issue of ADRs / GDRs / FCCBs aggregating to an amount not exceeding US$1,700,000,000 (United States Dollar One Thousand seven hundred million only) to the Promoters / Promoter Group on preferential offer basis.
(As Per BSE Announcement Website dated on 22.04.2010)
Essar Oil Ltd has submitted to BSE the proceedings of the Extra Ordinary General Meeting (EGM) held on April 22, 2010.
(As Per BSE Announcement Website dated on 07.05.2010)
Essar Oil Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 22, 2010, inter alia, have accorded their consent to create, offer, issue and allot, in one or more tranches, outside India, with or without premium, denominated in any foreign currency, such number of Global Depository Shares (GDRs) / Global Depository Receipts (GDRs) and / or American Depository Receipts (ADRs) and / or optionally / compulsorily convertible / redeemable Foreign Currency Convertible Bonds (FCCBs) and / or Fully / Partially Convertible FCCBs / GDRs / Loans and / or any other instruments / securities in the nature of Shares and / or warrants, naked or otherwise, convertible into Shares or otherwise, either in registered or bearer forms, and / or any such security convertible into equity shares with face value of Rs.10/- each or otherwise (financial instruments) or any combination of the financial instruments and the equity shares to be issued upon conversion / redemption or cancellation of such financial instruments, in the International Market, aggregating to an amount not exceeding US$ 1,700,000,000 (United States Dollars One thousand seven hundred million only), to Essar Energy Holdings Ltd, Mauritius, the existing Promoters and / or its associates / nominees / group companies / persons acting in concert, whether or not they are members of the Company, on preferential offer basis, to the extent and in the manner as may be decided by the Board in this behalf, subject to necessary provisions & approvals.
(As Per BSE Announcement Website dated on 07.05.2010)
Essar Oil Ltd has informed BSE that further reference to the approval given by the shareholders at the Extraordinary General Meeting held on April 22, 2010 for raising of funds by issue of ADRs/GDSs/FCCBs aggregating to an amount not exceeding US$ 1,700 million to Promoters / Promoter Group, the Company has decided on June 04, 2010 to raise upto US$ 300 million by issue of Foreign Currency Convertible Bonds (FCCBs) in one or more tranches, on preferential offer basis to Promoter Company, Essar Energy Holdings Ltd.
(As Per BSE Announcement Website dated on 04.06.2010) |
| Extraordinary General meeting on February 28, 2008.
Essar Oil Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) ofh members of the Company will be held on February 28, 200, inter alia, to transactthe following:
1. To create, offer, issue and allot (including with provisions for reservation on firm and competitive basis, for such part of issue and for such categories of persons including employees of the Company as may be permitted), equity shares of Rs 10/- each ("equity shares") and / or equity shares through Global Depository Shares (GDRs) / Receipts (GDRs) and / or American Depository Receipts (ADRs) and / or Foreign Currency Convertible Bonds (FCCBs) and / or convertible bonds, convertible debentures, fully or partly and / or any other securities, convertible into or exchangeable with equity shares, and / or other securities convertible into equity shares at the option of the Company and / or the holder(s) of such security and / or securities linked to equity shares and / or securities with or without detachable / non-detachable warrants and / or warrants with a right exercisable by the warrant holders to subscribe to equity shares and / or any instruments which would be converted into / exchanged with equity shares at a later date, whether rupee denominated or denominated in any foreign currency, naked or otherwise, either in registered or bearer forms (ecurities') or any combination of the equity shares and securities, with or without premium as the Board may, at its sole discretion decide by way of one or more public and / or private offerings in domestic and/or one or more international market(s), with or without green shoe option, and / or private placement or issue through Qualified Institutions Placement in accordance with the Guidelines for Qualified Institutions Placement prescribed under Chapter XIII-A of the SEBI (Disclosure and Investor Protection) Guidelines, 2000 or by any one or more or a combination of the above modes / methods or otherwise and at such time or kinds and in one or more tranches aggregating to an amount not exceeding US$ 2,000,000,000/- (United States Dollars Two thousand million only) Or in equivlent Indian Rupees and onsuch terms and conditions, as the Board may, at its sole discretion / at any time or times hereinafter decide, subject to necessary provisions & approvals.
2. For creating mortgages and / or charges, hypothecation, pledge and / or any other encumbrances on such terms and conditions and at such time(s) and in such form
and manner as the Board may determine on all or any of the movable and / or immovable properties of the Company wheresoever situated, both present and future or the whole or substantially the whole of any one or more of the Company's undertaking(s) in favour of all or any of the financial institutions, banks, lenders, financiers, trustees, investing agencies, bodies corporate, corporations, foreign institutional investors, any other person(s)/entities, or any combination of the above to secure rupee loans, foreign currency loans, debentures, bonds, securities, convertible loans, fully / partly paid convertible / non-convertible bonds, financial assistances / any borrowings or any other Securities / instruments(by private placement basis or otherwise) of an equivalent aggregate amount not exceeding Rs 30,000 Crore (Rupees Thirty thousand crore only) in Indian Rupees and / or in equivalent Foreign Currency together with interest thereon at the respective agreed rates, compound interest, additional interest, liquidated damages, commitment charges, premia on pre-payment or on redemption, Debenture / Security Trustee remuneration, costs, charges, expenses and all other monies payable by the Company to the aforesaid parties or any of them under the agreements entered into / to be entered into by the Company in respect of the said loans, debentures, bonds, financial assistances, borrowings and / or other instruments, subject to necessary provisions & approvals.
3. for borrowing or continuing to borrow any sum or sums of money, from time to time, from any one or more of the Company's bankers and / or financial or investment institutions and / or from anyone or more other persons, firms, entities, bodies corporate, Companies, whether by way of cash credit, advance or deposits, loans or bill discounting or otherwise and whether unsecured or secured, and if secured by mortgage, charge / hypothecation or lien or pledge or any other encumbrances of the Company's assets and properties whether movable or stock-in-trade (including raw materials, stores, spare parts and components in stock or in transit) including uncalled capital and work-in-progress and all or any of the undertakings of the Company notwithstanding that the moneys to be borrowed together with moneys already borrowed by the Company (apart from temporary loans obtained from the Company's bankers in the ordinary course of business) will or may exceed the aggregate of the paid-up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose but, so however, that the total amount upto which the moneys may be borrowed by the Board of Directors and outstanding at any time shall not exceed the sum of Rs 30,000 Crore (Rupees Thirty Thousand Crore only) over and above the aggregate of the paid up share capital of the Company and its free reserves, subject to necessary provisions & approvals.
(As per BSE Announcement Website dated on 02/02/2008)
Essar Oil Ltd has informed BSE that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on February 28, 2008, inter alia, have approved the following:
1. Issue of US$ 2,000,000,000 (United States Dollars Two thousand million only) by issue of equity shares and / or convertible debentures and / or GDSs / ADRs / FCCBs by way of public and / or private offering from domestic / international market(s) and / or, qualified institutions placement.
2. Enhancing the borrowing powers of the Company from Rs 25,000 crore to Rs 30,000 crore over and above the paid-up capital of the Company and its free reserves; and
3. Enhanced the power to create security on the assets of the Company for securing borrowings from Rs 25,000 crore to Rs 30,000 crore.
(As per BSE Announcement Website dated on 28/02/2008)
Essar Oil Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 28, 2008, inter alia, have accorded the following:
1. Authority to the Board to create, offer, issue and allot (including with provisions for reservation on firm and competitive basis, for such part of issue and for such categories of persons including employees of the Company as may be permitted), equity shares of Rs 10/- each ("equity shares") and / or equity shares through Global Depository Shares (GDRs) / Receipts (GDRs) and / or American Depository Receipts (ADRs) and / or Foreign Currency Convertible Bonds (FCCBs) and / or convertible bonds, convertible debentures, fully or partly and / or any other securities, convertible into or exchangeable with equity shares, and / or other securities convertible into equity shares at the option of the Company and / or the holder(s) of such security and / or securities linked to equity shares and / or securities with or without detachable / non-detachable warrants and / or warrants with a right exercisable by the warrant holders to subscribe to equity shares and / or any instruments which would be converted into / exchanged with equity shares at a later date, whether rupee denominated or denominated in any foreign currency, naked or otherwise, either in registered or bearer forms ('securities') or any combination of the equity shares and securities, with or without premium as the Board may, at its sole discretion decide by way of one or more public and / or private offerings in domestic and/or one or more international market(s), with or without green shoe option, and / or private placement or issue through Qualified Institutions Placement in accordance with the Guidelines for Qualified Institutions Placement prescribed under Chapter XIII-A of the SEBI (Disclosure and Investor Protection) Guidelines, 2000 or by any one or more or a combination of the above modes / methods or otherwise and at such time or kinds and in one or more tranches aggregating to an amount not exceeding US$ 2,000,000,000/- (United States Dollars Two thousand million only) or in equivalent Indian Rupees and on such terms and conditions, as the Board may, at its sole discretion / at any time or times hereinafter decide, subject to necessary provisions & approvals.
The Relevant Date for issue of equity shares or securities as per the SEBI (Disclosure and Investor Protection) Guidelines, 2000 on Qualified Institutions Placements, as amended upto date and / or for issue of securities in the International Market as per the Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulation, 2000 for the determination of minimum applicable price for the issue of equity shares either directly or upon conversion exchange, redemption or cancellation of securities in part or full is, January 29, 2008.
2. Authority to the Board for creating mortgages and / or charges, hypothecation, pledge and / or any other encumbrances on such terms and conditions and at such time(s) and in such form and manner as the Board may determine on all or any of the movable and / or immovable properties of the Company wheresoever situated, both present and future or the whole or substantially the whole of any one or more of the Company's undertaking(s) in favour of all or any of the financial institutions, banks, lenders, financiers, trustees, investing agencies, bodies corporate, corporations, foreign institutional investors, any other person(s)/entities, or any combination of the above to secure rupee loans, foreign currency loans, debentures, bonds, securities, convertible loans, fully / partly paid convertible / non-convertible bonds, financial assistances / any borrowings or any other Securities / instruments(by private placement basis or otherwise) of an equivalent aggregate amount not exceeding Rs 30,000 Crore (Rupees Thirty thousand crore only) in Indian Rupees and / or in equivalent Foreign Currency together with interest thereon at the respective agreed rates, compound interest, additional interest, liquidated damages, commitment charges, premia on pre-payment or on redemption, Debenture / Security Trustee remuneration, costs, charges, expenses and all other monies payable by the Company to the aforesaid parties or any of them under the agreements entered into / to be entered into by the Company in respect of the said loans, debentures, bonds, financial assistances, borrowings and / or other instruments, subject to necessary provisions & approvals.
3. Authority to the Board for borrowing or continuing to borrow any sum or sums of money, from time to time, from any one or more of the Company's bankers and / or financial or investment institutions and / or from anyone or more other persons, firms, entities, bodies corporate, Companies, whether by way of cash credit, advance or deposits, loans or bill discounting or otherwise and whether unsecured or secured, and if secured by mortgage, charge / hypothecation or lien or pledge or any other encumbrances of the Company's assets and properties whether movable or stock-in-trade (including raw materials, stores, spare parts and components in stock or in transit) including uncalled capital and work-in-progress and all or any of the undertakings of the Company notwithstanding that the moneys to be borrowed together with moneys already borrowed by the Company (apart from temporary loans obtained from the Company's bankers in the ordinary course of business) will or may exceed the aggregate of the paid-up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose but, so however, that the total amount upto which the moneys may be borrowed by the Board of Directors and outstanding at any time shall not exceed the sum of Rs 30,000 Crore (Rupees Thirty Thousand Crore only) over and above the aggregate of the paid up share capital of the Company and its free reserves, subject to necessary provisions & approvals.
(As pe BSE Announcement Website dated on 13/03/2008) |
| Calling an Extraordinary General Meeting
The Board decided to convene the Extraordinary General meeting on December 18, 2007.
Essar Oil Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on December 18, 2007, inter alia, to transact the following business:
1. To appoint Shri. Naresh Kumar Nayyar as a Director of the Company.
2. To appoint Shri. Naresh Kumar Nayyar as Managing Director of the Company for a period of 5 years with effect from October 15, 2007, on remuneration, terms and conditions.
3. To create, offer issue and allot, in one or more tranches, outside India, with or without premium, denominated in any foreign currency, such number of optionally / compulsorily convertible / redeemable Foreign Currency Convertible Bonds (FCCBs) and / or Global Depository Shares (GDRs) and / or American Depository Receipts (ADRs) and / or Fully / Partially Convertible FCCBs / GDRs / Loans and / or any other instruments / securities in the nature of Shares and / or warrants, naked or otherwise, convertible into Shares or otherwise, either in registered or bearer forms, and / or any such security convertible into equity shares with face value of Rs 10/- each or otherwise ('financial instruments') or any combination of the financial instruments and the equity shares to be issued upon conversion / redemption or cancellation of such financial instruments, in the International Market, aggregating to an amount not exceeding US$ 2,000,000,000/- (United States Dollars Two thousand million only) to Essar Energy Holdings Ltd (formerly Prime Finance Company Ltd), Mauritius, the exciting Promoters and / or its associates / nominees / group Companies / persons acting in concert, whether or not they are members of the Company, on preferential offer basis, to the extent and in the manner as may be decided by the Board in this behalf, subject to necessary provision and approvals.
(As Per BSE Announcement Website Dated on
22/11/2007)
Essar Oil Ltd has informed BSE that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on December 18, 2007, inter alia, have approved the following:
1. Appointment of Shri. Naresh Kumar Nayyar as the Managing Director of the Company.
2. Issue of US $ 2,000,000,000/- (United States Dollars Two thousand million only) Global Depository Shares (GDSs) to Promoters on preferential issue basis.
(As per BSE Announcement Website dated on 18/12/2007) |