| Arham Plastics Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on January 07, 2008, inter alia, to transact the following business:
1. To change the name of the Company from "Arham Plastics Ltd" to "National Plastic Technologies Ltd".
2. To delist the equity shares of the Company from the Madras and Ahmedabad Stock Exchanges.
3. The existing clause V of the Memorandum of Association of the Company be and is hereby amended by substituting therefore the following clause.
Clause V
The Authorised Share Capital of the company is Rs 10,00,00,000 (Rupees ten crores only) divided into 1,00,00,000/- (one crore) equity shares of Rs 10/- (Rupees ten) each The Company shall have powers to increase or decrease the same from time to time. The shares forming the capital (original, increased or reduced) of the company may be sub divided, consolidated or divided into such classes, with any preferential, deferred, qualified, special or other rights, privileges or conditions attached thereto and be held upon such terms as may be determined by the Board.
4. The existing article 4(a) of the Articles of Association of the Company be and are hereby substituted by the following:
The Authorised Share Capital of the Company is Rs 10,00,00,000 (Rupees ten crores only) divided into 1,00,00,000/- (one crore) equity shares of Rs 10/- (Rupees ten) each with power to increase or reduce such capital subject to the provisions hereinafter contained.
The Board may at its discretion, issue any part or parts of the unissued shares upon such terms and conditions with such rights and privileges annexed thereto as the Board, at its discretion and subject to the provisions of the Companies Act, 1956,and SEBI Regulations or any amendments thereto from time to time, think fit and in particular, issue such shares with such preferential rights to dividend and in the distribution of the assets of the Company, as the Board any determine".
5. For issue and allotment of equity shares in such a manner and on such terms arid conditions as may be determined by the Board in its absolute discretion; provided that the preferential allotment be up to a maximum 20,00,000 equity shares of the Company of the face value of Rs 10/- each to National Polyplast (I) Ltd., a Company incorporated under the Companies Act 1956, ("the Proposed investor" / "the Proposed Allottee") at a price of Rs 13.77 per share (including premium of Rs 3.77), being a price which is higher than the minimum price specified as per the SEBI (Disclosure and Investor Protection) Guidelines, 2000 ("SEBI DIP Guidelines"), and that the shares so issued shall rank at least pari passu in all respects with the existing equity shares of the Company and shall be locked in for a period of one year from the date of allotment pursuant to the ("SEBI DIP guidelines") for preferential allotment, subject to necessary provisions & approvals.
Arham Plastics Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 07, 2008, inter alia, have accorded the following:
1. The name of the Company be Changed from "Arham Plastics Ltd" to "National Plastic Technologies Ltd", subject to approval of Central Government.
2. Voluntarily de-list the equity shares of the Company from the Madras and Ahmedabad Stock Exchanges where the equity shares of the Company are presently listed.
3. The existing clause V of the Memorandum of Association of the Company be and is hereby amended by substituting therefore the following clause.
Clause V
The Authorised Share Capital of the company is Rs 10,00,00,000 (Rupees ten crores only) divided into 1,00,00,000/- (one crore) equity shares of Rs 10/- (Rupees ten) each The Company shall have powers to increase or decrease the same from time to time. The shares forming the capital (original, increased or reduced) of the company may be sub divided, consolidated or divided into such classes, with any preferential, deferred, qualified, special or other rights, privileges or conditions attached thereto and be held upon such terms as may be determined by the Board.
4. The existing article 4(a) of the Articles of Association of the Company be and are hereby substituted by the following:
The Authorised Share Capital of the Company is Rs 10,00,00,000 (Rupees ten crores only) divided into 1,00,00,000/- (one crore) equity shares of Rs 10/- (Rupees ten) each with power to increase or reduce such capital subject to the provisions hereinafter contained.
The Board may at its discretion, issue any part or parts of the unissued shares upon such terms and conditions with such rights and privileges annexed thereto as the Board, at its discretion and subject to the provisions of the Companies Act, 1956,and SEBI Regulations or any amendments thereto from time to time, think fit and in particular, issue such shares with such preferential rights to dividend and in the distribution of the assets of the Company, as the Board any determine".
5. Authority to the Board for the issue and allotment of equity shares in such a manner and on such terms arid conditions as may be determined by the Board in its absolute discretion; provided that the preferential allotment be up to a maximum 20,00,000 equity shares of the Company of the face value of Rs 10/- each to National Polyplast (I) Ltd., a Company incorporated under the Companies Act 1956, ("the Proposed investor" / "the Proposed Allottee") at a price of Rs 13.77 per share (including premium of Rs 3.77), being a price which is higher than the minimum price specified as per the SEBI (Disclosure and Investor Protection) Guidelines, 2000 ("SEBI DIP Guidelines"), and that the shares so issued shall rank at least pari passu in all respects with the existing equity shares of the Company and shall be locked in for a period of one year from the date of allotment pursuant to the ("SEBI DIP guidelines") for preferential allotment, subject to necessary provisions & approvals.
(As per BSE Announcement Website dated on 22/01/2008) |