Bemco Hydraulics - Outcome Of Board Meeting

Bemco Hydraulics Ltd has informed that the Board of Directors of the Company at its meeting held on February 17, 2007, has taken the following decisions:1. Company to cancel, revoke and reseind the decision of Rights Issue of 12,93,400 of Equity Shares in the proportion of 2:1 at par i.e. not exceeding the total issue price of Rs 1,29,34,000/-.2. Company to issue and allot the 8,00,000 equity shares of Rs 10/- each, on the Preferential basis to the following members of promoter and promoters group at Rs 14/- each share (including premium of Rs 4/-).a. Madan Mohan Mohta, Belgaum - 40,000 (No of Shares to be allotted)b. Anirudh Mohta, Belgaum - 40,000 (No of Shares to be allotted)c. Urmila Devi Mohta, Belgaum - 1,00,000 (No of Shares to be allotted)d. Sri. Ramchandra Enterprises Pvt Ltd, Belgaum - 1,20,000 (No of Shares to be allotted)e. U D Finnvest Pvt Ltd, Belgaum - 1,25,000 (No of Shares to be allotted)f. Amarshakti Finnvest Credit Pvt Ltd, Kolkata - 1,75,000 (No of Shares to be allotted)g. Mohta Capital Pvt Ltd, Kolkata - 2,00,000 (No of Shares to be allotted)3. Company to call an EOGM (Extra Ordinary General Meeting) on March 19, 2007 for getting the approval / Consent from Share Holders of the Company for above preferential issue and issue the EOGM Notice accordingly to all the members well in time, which has been read and approved in this Meeting of the Board of Directors.