|Indage Restaurants and Leisure Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 09, 2009, has approved, subject to the consent of the members and other Regulatory approvals, if any, the Issue of Convertible Equity Share warrants not exceeding 90,00,000 (ninety lakhs) which will be entitled for conversion into equivalent number of Equity shares of Rs 3/- each, for an amount not exceeding Rs 16,00,00,000 (Rupees sixteen crores) on preferential basis to the identified investors, QIBs and promoters / promoter group entities at a price and on the terms and conditions determined in accordance with the applicable SEBI Guidelines.
The board of Directors has decided to convene an Extra-ordinary General Meeting on July 04, 2009 for seeking an approval of shareholders of the Company for the above.
Indage Restaurants and Leisure Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the Members of the Company will be held on July 04, 2009, inter alia, to transact the following business:
1. To alter the Articles of Association of the companies by inserting the following article 5A after the existing articles.
5A. power to issue share warrants
Subject to the provisions of Section 114 and 115 of the Act, and subject to any directions which may be given by the Company in General Meeting, the Board may issue share warrants in such manner and on such terms and conditions as the Board may deem fit. In case of such issue clauses 40 to 43 of Table 4 in Schedule into the Act, shall apply, subject to necessary provision and approvals.
2. To offer, issue and allot, in one or more tranches, on a Preferential basis, upto 90,00,000 (Ninety lacs only) Equity Shares Warrants, carrying an entitlement to apply for equivalent number of Equity Shares of Rs 3/- (Rupees three only) each at a price of Rs. 17/- (Rupees seventeen only) per Equity Share Warrant (including premium of Rs. 14/- (Rupees fourteen only) per Equity Share Warrant, to the following Investors (ôthe Investorsö), and on such other terms and conditions that the Board may deem appropriate in its absolute discretion.
a. Name of the proposed Investor - Anam Transport Pvt Ltd
- Maximum No of Equity share warrants proposed to be allotted - 45,00,000
b. Name of the proposed Investor - Sanjivani Horticulture Pvt Ltd
- Maximum No of Equity share warrants proposed to be allotted - 45,00,000.
subject to necessary provision and approvals.
3. To cancel the resolution passed on September 02, 2008 through postal ballot for increase in Authorised Share Capital of the Company from 15,00,00,000 (Rupees fifteen crores only) divided into 5,00,00,000 (five crore only) Equity shares of Rs. 3/- (Rupees three only) each to Rs. 30,00,00,000 (Rupees thirty crores only) divided into 10,00,00,000 (Ten crores only) Equity shares of Rs. 3/- (Rupees three only) each.
(As Per BSE Announcement Website dated on 23.06.2009)
Indage Restaurants and Leisure Ltd has informed BSE that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on July 04, 2009, have approved the following:
1. Special Resolution relating to alteration of Articles of Association of the Company to facilitate the issue of Equity Share Warrants.
2. Special Resolution under Section 81(1A) and all other applicable provisions if any, of the Companies act, 1956 for the allotment of 90,00,000 Equity Share Warrants on preferential basis at a price of Rs 17/- (including premium of Rs 14/-) to the investors mentioned in the notice and the explanatory statement thereto.
3. Ordinary Resolution relating to cancellation of the resolution passed through postal ballot on September 02, 2008 for the increase in Authorised Share Capital of the Company from Rs 15,00,00,000 (Rupees fifteen crores only) to Rs 30,00,00,000 (Rupees thirty crores only).
(As Per BSE Announcement Dated on 04/07/2009)