| Well Pack Papers & Containers Ltd has informed BSE that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on March 05, 2010, inter alia, have approved the following businesses:
1. Sub-division of Equity Shares of the Company:
- Sub-division of the 80,00,000 equity shares of the nominal value of Rs. 10/- each in the authorised share capital of the Company into 8,00,00,000 equity shares of Rs. 1/- each AND THAT Clause V (being Capital Clause) of the Memorandum of Association of the Company relating to equity shares be altered accordingly.
Further resolved that the issued, subscribed and fully paid-up Equity Share Capital of the Company, comprising of 44,35,020 (Forty Four Lacs Thirty Five Thousand Twenty) Equity Shares of Rs. 10/- each aggregating to Rs. 4,43,50,200 (Four Crores Forty three Lacs Fifty Thousand Two Hundred only) be sub divided into 4,43,50,200 (Four Crores Forty three Lacs Fifty Thousand Two Hundred only) equity shares of the face value of Rs. 1/- each, as on the Record date that may be fixed by the Board.'
2. Increase of Authorized Share Capital of the Company
- Increase the Authorised Share Capital of the Company from 8,00,00,000/- (Rupees Eight Crores) divided into 80,00,000 (Eighty Lacs) equity shares of Rs. 10/- (Rupees Ten Only) each to Rs. 9,00,00,000 (Rupees Nine Crores Only) divided into 90,00,000 (Ninety Lacs) equity shares of Rs. 10/- (Rupees Ten Only) each, with the rights, privileges and conditions attaching thereto as are provided by the regulations of the Company for the time being with the powers to increase or reduce its capital and to divide the shares into the capital for the time being into other classes thereto respectively such preferential, deferred, qualified or other special rights privileged conditions, or restriction, as may be determined by in accordance with the Articles of Association of the company and to vary, modify or abrogate any such rights, privileges or conditions or restriction in such manner as may for the time being permitted by the Articles of the company or the legislative provisions for the time being in force in that behalf & consequential amendment in the Memorandum of Association of the Company.
3. Authority to the Board to offer, issue and allot on preferential basis 2,35,200 (Two Lacs Thirty Five Thousand Two Hundred only) Equity Shares of Face Value of Rs. 10/- each at a price of Rs. 425/- per share which includes premium of Rs. 415/- per share aggregating to Rs. 9,99,60,000/- (Rupees Nine Crores Ninety Nine Lacs Sixty Thousand only) from time to time in one or more lots to persons not falling under promoters group, being the price which is in accordance with the guidelines for Preferential Issue contained in Chapter VII of the SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2009, (SEBI ICDR Regulations') persons mentioned below on a Preferential basis:
i. Name of the Proposed Allottees: Nishita Capital Services Pvt. Ltd (Promoter Group)
- No. of Equity Shares to be allotted: 47000
ii. Name of the Proposed Allottees: Pushpaben Vinodbhai Patel
- No. of Equity Shares to be allotted: 48850
iii. Name of the Proposed Allottees: Akshay Vinodbhai Patel
- No. of Equity Shares to be allotted: 21750
iv. Name of the Proposed Allottees: Nakoda Exploration Pvt. Ltd
- No. of Equity Shares to be allotted: 20000
v. Name of the Proposed Allottees: Benko Iron & Steels Pvt. Ltd
- No. of Equity Shares to be allotted: 20000
vi. Name of the Proposed Allottees: Aegis Tracon Pvt. Ltd
- No. of Equity Shares to be allotted: 20000
vii. Name of the Proposed Allottees: Padam Glassware Pvt. Ltd
- No. of Equity Shares to be allotted: 20000
viii. Name of the Proposed Allottees: Jodhpur Ispat Pvt. Ltd
- No. of Equity Shares to be allotted: 37600 |