IMP Powers Ltd has informed that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on September 01, 2007, inter alia, to transact the following business:
1. Increase in the existing Authorized Share Capital of the Company from Rs 15,00,00,000 to Rs 34,00,00,000 divided into 1,20,02,000 Equity Shares of Rs 10/- each, 30,00,000 Preference Shares of Rs 10/- each and 11,80,000 Compulsorily Convertible Preference Shares (CCPS) of Rs 161/- each by creation of 2,000 Equity Shares of Rs 10/- each ranking pari-passu with the existing equity shares of the Company and 11,80,000 CCPS of Rs 161/- each with each CCPS convertible into one equity share of Rs 10/- each at a premium of Rs 151/- & consequential amendments in the memorandum & articles of association of the Company.
2. To offer, issue and allot 11,80,000, 8.75% Compulsorily Convertible Preference Shares (Preference Shares) of a par value of Rs 161/- each, which shall be convertible into 11,80,000 Equity Shares of Rs 10/- each at premium of Rs 151/- per share within a period not exceeding eighteen months from date of allotment on a preferential basis to the following persons falling under category of Person other than Promoter Group:
a. India Business Excellence Fund I, a public limited life Company organised in Mauritius.
5,42,800 - No of CCPs
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