| Rana Sugars Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on February 06, 2009, inter alia, to transact the following business:
1. To increase the authorised share capital of the Company from Rs 160,00,00,000 [Rupees One Hundred Sixty Crores only] divided into 10,00,00,000 [Ten Crores] equity shares of Rs 10/- each and 6,00,00,000 [Six Crores] Preference Shares of Rs 10/- each to Rs 210,00,00,000 [Rupees Two Hundred Ten Crores only] divided into 15,00,00,000 (Fifteen Crores] equity shares of Rs 10/- each and 6,00,00,000 [Six Crores] Preference Shares of Rs 10/- each and consequential amendment in the Memorandum & Articles of Association of the Company.
2. Authority to the Board, to offer / issue and allot not more than 4,00,00,000 warrants, convertible into 4,00,00,000 Equity shares of Rs 10/- each, at a premium of Rs 1.50 per share to the Promoters / Other Investors, convertible at the option of the Warrant holder(s) within an aggregate time period of 18 months from the date of allotment as determined in accordance with the relevant SEBI Guidelines, to the following investors;-
i. Name: Mrs. Rajbans Kuar (Promoter)
- No. of Warrants: 85,00,000
ii. Name: Mrs. Sukhjinder Kuar (Promoter)
- No. of Warrants: 85,00,000
iii. Name: H P C Plastic Pvt Ltd (Non-Promoter)
- No. of Warrants: 57,50,000
iv. Name: Reliance Garden Pvt. Ltd (Non-Promoter)
- No. of Warrants: 57,50,000
v. Name: Jay Aar Builders Pvt. Ltd (Non-Promoter)
- No. of Warrants: 57,50,000
vi. Name: Venus Pestiides Pvt. Ltd (Non-Promoter)
- No. of Warrants: 57,50,000
on a preferential basis, as the Board may in its absolute discretion decide, in one or more tranches and on such necessary terms & conditions.
3. To create, issue, offer, allot in the course of one or more public or private offerings in the domestic and / or one or more international markets, Equity Shares / Preference Shares / Equity Shares through Global Depositary Receipts (GDRs), ("Securities") to be subscribed to in any foreign currency / currencies by foreign investors (whether individuals and / or bodies corporate and / or Offer Document and / or other letter or circular through Public issue(s), Rights issue(s), Private placement(s), preferential allotment for cash, from time to time in one or more trenches, by the Board for an aggregate number of equity shares or such receipts or instruments equivalent to 60 million equity shares of Rs 10/- each at a price to be fixed as per SEBI Guidelines, aggregating to Rs 60 crores / about 12.5 million USD including the over allotment option, if any, in consultation with the Lead Manager(s) and / or Underwriters and / or other Advisors, with authority to retain over subscription up to such percentage as may be permitted by the "Appropriate Authorities" and so as to also enable the Company to get listed at Indian Stock Exchanges and Overseas Stock Exchanges such as Luxembourg, London, and / or any other Overseas Stock Exchanges, subject to necessary provisions & approvals, the Register of Members & Share Transfer Books of the Company will remain closed from to (both days inclusive) for the purpose of.
Rana Sugars Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 06, 2009, inter alia, have accorded the following:
1. Authority to the Board, to offer / issue and allot not more than 4,00,00,000 warrants, convertible into 4,00,00,000 Equity shares of Rs 10/- each, at a premium of Rs 1.50 per share to the Promoters / Other Investors, convertible at the option of the Warrant holder(s) within an aggregate time period of 18 months from the date of allotment as determined in accordance with the relevant SEBI Guidelines, to the following investors:-
i. Name: Mrs. Rajbans Kuar (Promoter)
- No. of Warrants: 85,00,000
ii. Name: Mrs. Sukhjinder Kuar (Promoter)
- No. of Warrants: 85,00,000
iii. Name: H P C Plastic Pvt. Ltd (Non-Promoter)
- No. of Warrants: 57,50,000
iv. Name: Reliance Garden Pvt. Ltd (Non-Promoter)
- No. of Warrants: 57,50,000
v. Name: Jay Aar Builders Pvt. Ltd (Non-Promoter)
- No. of Warrants: 57,50,000
vi. Name: Venus Pesticides Pvt. Ltd (Non-Promoter)
- No. of Warrants: 57,50,000
on a preferential basis, as the Board may in its absolute discretion decide, in one or more tranches and on such necessary terms & conditions.
2. Authority to the Board to create, issue, offer, allot in the course of one or more public or private offerings in the domestic and / or one or more international markets, Equity Shares / Preference Shares / Equity Shares through Global Depositary Receipts (GDRs), ("Securities") to be subscribed to in any foreign currency / currencies by foreign investors (whether individuals and / or bodies corporate and / or Offer Document and / or other letter or circular through Public issue(s), Rights issue(s), Private placement(s), preferential allotment for cash, from time to time in one or more trenches, by the Board for an aggregate number of equity shares or such receipts or instruments equivalent to 60 million equity shares of Rs 10/- each at a price to be fixed as per SEBI Guidelines, aggregating to Rs 60 crores / about 12.5 million USD including the over allotment option, if any, in consultation with the Lead Manager(s) and / or Underwriters and / or other Advisors, with authority to retain over subscription up to such percentage as may be permitted by the "Appropriate Authorities" and so as to also enable the Company to get listed at Indian Stock Exchanges and Overseas Stock Exchanges such as Luxembourg, London, and / or any other Overseas Stock Exchanges, subject to necessary provisions & approvals.
(As Per BSE Announcement Dated on 09/02/2009) |
| Rana Sugars Ltd has informed BSE that an Extra-Ordinary General Meeting (EGM) of the members of the Company will be held on December 04, 2006, inter alia, to transact the following:
1. Increase in the Authorised Share Capital of the Company from Rs 100,00,00,000 divided into 10,00,00,000 equity shares of Rs 10/- each to Rs 160,00,00,000 divided into 10,00,00,000 equity shares of Rs 10/- each and 6,00,00,000 Preference Shares of Rs 10/- each and consequential amendments in the Memorandum and Articles of Association of the company.
2. To allot and issue 22,00,000 Equity Shares of the Company of Rs 10/- each at a premium of Rs 21/- per share aggregating to Rs 6,82,00,000/- calculated in accordance with relevant guidelines issued by SEBI / Stock Exchanges to the following Directors / Promoters, subject to necessary provisions and approvals:
i. Rana Inder Pratap Singh - 11,00,000 (Proposed Allotment : no of shares)
ii. Rana Veer Pratap Singh - 11,00,000 (Proposed Allotment : no of shares)
3. Issuance of 5,50,00,000, 8% Non-Cumulative Redeemable Preference Shares of Rs 10/- each at par to the following persons:
i. Atique Al Aqadi Trading LLC - 1,40,00,000 no of shares
ii. Rikki Fze - 1,40,00,000 no of shares
iii. Citigate Trade F.Z.E. - 1,40,00,000 no of shares
iv. Rexflec Ltd Corporation - 1,30,00,000 no of shares;
upon the following terms and conditions and subject to the following rights, not withstanding anything contained in section 81(1-A) and other applicable provisions (if any) of the Companies Act, 1956:
1. The said Non-Cumulative Redeemable Preference Shares shall carry a fixed non-cumulative preferential dividend at the rate of 8% per annum on the capital for the time being paid-up thereon respectively and shall be redeemable after a period of 12 years from the date of allotment.
2. The said shares rank for dividend in priority to the equity shares for the time being of the Company.
3. The voting rights of the persons holding the said shares shall be in accordance with the provisions, of section 87 of the Companies Act, 1956.
4. The Company shall not create and or issue in future preference shares ranking in priority to the said shares and in the event of the Company creating and / or issuing preference shares in future ranking pari-passu with the said shares, it would do so only with the consent in writing of the holders of not less than three-fourths of the said shares then outstanding or with the sanction of the special resolution passed at a separate meeting of the holders of the said Shares then outstanding. |