|Pratibha Industries Limited has submitted to
the Exchange a copy of the notice of the Extraordinary General Meeting of the members of the Company scheduled to be held on November 10, 2010.
Pratibha Industries Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 11, 2010, inter alia, to transact the following business:
1. To amendment of Articles of Association of the Company for issuing securities to promoter / promoter group Company / others on preferential basis.
2. To increase the Authorized Capital of the Company from Rs. 250,000,000 (Rupees Twenty Five Crores only) divided into 125,000,000 equity shares of Rs. 2 (Rupees Two) each to Rs. 400,052,000 (Rupees Forty Crores Fifty Two Thousand only) divided into 125,000,000 (Twelve Crores Fifty Lacs) equity shares of Rs. 2 (Rupees Two) each and creation of 16,31,000, (Sixteen Lacs Thirty One Thousand) new Compulsorily Convertible Participatory Preference Shares of Rs. 92/- (Rupees Ninety Two) each, which upon conversion will rank pan passu with the existing equity shares & consequential amendment in the Memorandum of Association of the Company.
3. Preferential Issue of securities to certain investor's belonging to the Promoter / Promoter Group:-
- To create, offer, issue and allot in one or more tranches, to Van Dyck, a company that is not related to the Promoter / Promoter Group and having its registered address at 504, Saint James Court, Port Louis, Mauritius, on a preferential basis, of upto 3,804,348 (Thirty Eight Lacs Four Thousand Three Hundred Forty Eight) Equity Shares of a face value of Rs. 2/- each at a price of upto Rs. 92/- (Rupees Ninety Two Only) per Equity Share and upto 1,630,435 (Sixteen Lacs Thirty Thousand Four Hundred Thirty Five) Compulsory Convertible Participatory Preference Shares (CCPPS) at a price of upto Rs. 92/- (Rupees Ninety Two only) each, fully paid, entitling the CCPPS holder with a right to apply for and be allotted one fully paid up Equity Share of face value of Rs. 2/- each against one CCCPS at an exercise price including premium not being less than the price determined in terms of regulation 76(1) of SEBI ICDR Regulations on or within 18 months from the date of issue of the CCPPS, such CCPPS being converted automatically at the expiry of 18 months, in the event the CCPPS holder does not choose to convert earlier. The CCPPS shall carry a coupon of upto 0.01% per annum, to be computed / payable at quarterly rests. The CCPPS shall be entitled to participate in any dividends that are paid out on equity shares by the Company as if each CCPPS is equal to one equity share of the Company. The exercise price for the equity shares as well as for the CCPPS shall not be lower than the highest of the following:
(a) The average of weekly high and low of the closing prices of the Companys shares quoted on the Stock Exchange during the six months preceding the Relevant Date; or
(b) The average of the weekly high and low of the closing prices of the Companys shares quoted on the Stock Exchange during the two weeks preceding the Relevant Date; or
(c) Upto Rs.92/- per equity shares or CCPPS, the final price being determined by the Board, subject to necessary provisions & approvals.
4. To accord Mr. Ravi A Kulkarni, a relative of Mr. Ajit B. Kulkarni and Mrs. Usha B. Kulkarni, Chairperson of the Company, to hold an office or place of profit in the Company for a period of five years commencing from October 01, 2010, or from such date as the Central Government may approve, on remuneration, terms & conditions.
(As Per BSE Announcement Dated on 01.10.2010)
Pratibha Industries Limited has informed the Exchange that the Members of the Company in their extra ordinary general meeting held on November 10,2010 has considered and approved the following:
1) Amendment of Articles of association ofthe Company for issuing securities topromoter/promoter group company/others on preferential basis;
2) Increase in Authorised Share Capital;
3) Preferential issue of securities to certain
investor(s) not belonging to the Promoter/Promoter Group;
4) Appointment of Mr. Ravi A. Kulkarni at office or place of profit.
(As Per NSE Bulletin dated on 12.11.2010)
|To call for EGM on February 19, 2007.
Pratibha Industries Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 19, 2007, inter alia, have unanimously passed the following resolutions:
1. Authority to the Board for issues of further shares by way of Qualified Institutional Placement (QIPs) as per the Schedule XIIIA of the SEBI (DIP) guidelines. The authority is given to the board for raising money up to Rs 200 Crores. The Resolution is valid for 12 months form the date of the its passing.
2. For appointment of Mr. Rohit Katyal as Chief Operating Officer of the Company for a period of five years subject approval of the Central Govt., on remuneration, terms & conditions.
3. For appointment of Mr. Sanjay Kulkarni as General Manager - Business Development of the Company for a period of five years subject approval of the Central Govt., on remuneration, terms & conditions.
(As Per BSE Announcement Website Dated on 23/02/2007)
Approval for the following:
1. To increase, subject to the approval the shareholders, the Borrowing powers under Section
293(1)(d) of the Companies Act, 1956 from Rs 10,000 million to Rs 20,000 million.
2. To issue further securities by way of equity shares / preference shares / convertible
debentures / Convertible Notes / Foreign Currency Convertible Bonds (FCCBs) etc., subject
to the approval of the shareholders.
3. To increase, subject to the approval of the shareholders, the Authorised Share capital of
the Company from Rs 160 million to Rs 250 million.