| Ispat Industries Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the Company will be held on May 15, 2010, inter alia, to transact the following :
1. To create, issue, offer and allot, in one or more trenches, including providing for reservation on firm and/or competitive basis, of such part of issue and for such categories of persons, as may be permitted, in the course of one or more public or private offerings in domestic and/or one or more international market(s) with or without a green shoe option, Equity Shares and/or convertible securities, other than warrants, on Qualified Institutions Placement basis under ICDR Regulations or otherwise and/or Equity Shares through depository receipts, including American Depository Receipts (AUR and Global Depository Receipts (GDRs), and/or convertible bonds, including Foreign Currency Convertible Bonds (FCCBs), and/or other securities convertible into Equity Shares at the option of the Company and/or the holder(s) of such securities, and/or securities linked to Equity Shares, including non-convertible debentures with warrants or other securities with or without warrants, which may either be detachable or linked, and which warrant has a right exercisable by the warrant holder to subscribe for Equity Shares and/or warrants with an option exercisable by the warrant-holder to subscribe for Equity Shares and/or any instruments or securities representing either Equity Shares and/or convertible securities linked to Equity Shares (including the issue and allotment of Equity Shares pursuant to a Green Shoe Option, if any), ('Securities') to eligible investors, including Qualified Institutional Buyers, under applicable laws, regulations and guidelines (whether residents and/or non-residents and/or institutions/banks and/or incorporated bodies, mutual funds, venture capital funds and Indian and/or multi-lateral financial institutions and/or individuals and/or trustees and/or stabilizing agents or otherwise, and whether or not such investors are members of the Company), through prospectus and/or placement document and/or letter bf offer or circular and/or on public and/ or private/preferential placement basis, such issue and allotment to be made at such time/times, in one or more tranches, for cash, at such price or prices, in such manner and where necessary, in consultation with the Book Running Lead Managers, Merchant Bankers and/or other Advisors or otherwise, on such terms and conditions, including terms as to appointment of Lead Managers, Underwriters, Advisors, Guarantors, Depositories, Custodians and/or other agencies, as the Board, may, in its absolute discretion, decide at the time of issue of Securities, provided that the total amount raised through the issuance of such Securities shall not exceed Rs. 500 Crores or its equivalent, in one or more currencies, including premium, if any, as may be decided by the Board, subject to necessary provisions and approvals.
2. Authority to the Board of Directors of the Company ('Board' which term shall be deemed to include any committee(s) constituted / to be constituted by the Board to exercise its powers including the powers conferred by this Resolution), to create, offer, issue and allot, from time to time, in one or more tranches, Equity Warrants ('Warrants') on preferential basis, to one or more of the eligible promoters, whether or not they are members of the Company, entitling them to apply for equity shares, not exceeding 5% of the post-issue voting rights, in aggregate, in any financial year, for cash, in accordance with the provisions contained in Chapter VII of the ICDR Regulations ('Preferential Issue Regulations') and in such a manner and on such terms and conditions as may be determined by the Board in its absolute discretion, provided that the price of the equity shares so issued shall not be less than such amount as would be determined under the Preferential Issue Regulations, subject to necessary provisions and approvals.
Ispat Industries Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on May 15, 2010, inter alia, have accorded to the following:
1. Issue of Securities to Qualified Institutional Buyers on Qualified Institutional Placement basis:-
- Authority to the Board to create, issue, offer and allot, in one or more trenches, including providing for reservation on firm and/or competitive basis, of such part of issue and for such categories of persons, as may be permitted, in the course of one or more public or private offerings in domestic and/or one or more international market(s) with or without a green shoe option, Equity Shares and/or convertible securities, other than warrants, on Qualified Institutions Placement basis under ICDR Regulations or otherwise and/or Equity Shares through depository receipts, including American Depository Receipts (AUR and Global Depository Receipts (GDRs), and/or convertible bonds, including Foreign Currency Convertible Bonds (FCCBs), and/or other securities convertible into Equity Shares at the option of the Company and/or the holder(s) of such securities, and/or securities linked to Equity Shares, including non-convertible debentures with warrants or other securities with or without warrants, which may either be detachable or linked, and which warrant has a right exercisable by the warrant holder to subscribe for Equity Shares and/or warrants with an option exercisable by the warrant-holder to subscribe for Equity Shares and/or any instruments or securities representing either Equity Shares and/or convertible securities linked to Equity Shares (including the issue and allotment of Equity Shares pursuant to a Green Shoe Option, if any), ('Securities') to eligible investors, including Qualified Institutional Buyers, under applicable laws, regulations and guidelines (whether residents and/or non-residents and/or institutions/banks and/or incorporated bodies, mutual funds, venture capital funds and Indian and/or multi-lateral financial institutions and/or individuals and/or trustees and/or stabilizing agents or otherwise, and whether or not such investors are members of the Company), through prospectus and/or placement document and/or letter bf offer or circular and/or on public and/ or private/preferential placement basis, such issue and allotment to be made at such time/times, in one or more tranches, for cash, at such price or prices, in such manner and where necessary, in consultation with the Book Running Lead Managers, Merchant Bankers and/or other Advisors or otherwise, on such terms and conditions, including terms as to appointment of Lead Managers, Underwriters, Advisors, Guarantors, Depositories, Custodians and/or other agencies, as the Board, may, in its absolute discretion, decide at the time of issue of Securities, provided that the total amount raised through the issuance of such Securities shall not exceed Rs. 500 Crores or its equivalent, in one or more currencies, including premium, if any, as may be decided by the Board, subject to necessary provisions and approvals.
2. Issue of Equity Warrants on Preferential Basis:
- Authority to the Board of Directors of the Company ('Board' which term shall be deemed to include any committee(s) constituted / to be constituted by the Board to exercise its powers including the powers conferred by this Resolution), to create, offer, issue and allot, from time to time, in one or more tranches, Equity Warrants ('Warrants') on preferential basis, to one or more of the eligible promoters, whether or not they are members of the Company, entitling them to apply for equity shares, not exceeding 5% of the post-issue voting rights, in aggregate, in any financial year, for cash, in accordance with the provisions contained in Chapter VII of the ICDR Regulations ('Preferential Issue Regulations') and in such a manner and on such terms and conditions as may be determined by the Board in its absolute discretion, provided that the price of the equity shares so issued shall not be less than such amount as would be determined under the Preferential Issue Regulations, subject to necessary provisions and approvals.
(As Per BSE Announcement Website dated on 09.06.2010) |
| The Board has decided to convene an Extra-Ordinary General Meeting of the shareholders of the Company on March 29, 2008, for obtaining requisite approval, in terms of Section 81(1A) of the Companies Act, 1956, for the proposed issue of equity share warrants to eligible promoters, on preferential basis.
In terms of the Guidelines for Preferential Issues contained in Chapter XIII of SEBI (Disclosure & Investor Protection) Guidelines, 2000, the "Relevant Date" for determining the price of the proposed issue of equity share warrants shall be February 28, 2008.
Ispat Industries Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on March 29, 2008, inter alia, to create, offer, issue and allot, from time to time, in one or more tranches, Equity Warrants ("Warrants"), on preferential basis, to one or more of the eligible promoters, whether or not they are members of the Company, entitling them to apply, for equity shares, not exceeding 5% of the post-issue voting rights, in aggregate, in any financial year, for cash, in accordance with, the Guidelines for Preferential Issues contained in Chapter XII Of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 (the "Preferential Issue Guidelines") and in such a manner and on such terms and conditions as may be determined by the Board in its absolute discretion, provided that the price of the equity shares so issued shall not be less than such amount as would be determined under the Preferential Issue Guidelines, subject to necessary provisions & approvals.
(As per BSE Announcement Website dated on 07/03/2008)
Ispat Industries Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 29, 2008, have approved issue of Equity Warrants, on preferential basis, to the eligible promoters, entitling them to apply for equity shares, not exceeding 5% of the post-issue voting rights, in aggregate, in any financial year.
The pricing of equity shares, arising out of exercise of rights attached to the aforesaid Equity Warrants, has been determined at Rs 43.89 each, in terms of the applicable Guidelines for Preferential Issues contained in Chapter XIII of Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000.
(As per BSE Announcement Website dated on 31/03/2008) |