Almondz Global Securities Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on September 06, 2007, have authorised the Board to create, offer, issue and allot 1537500 Equity Shares of the Company having a face value of Rs 6/- each at a price of Rs 80/- per Equity Share including premium of Rs 74/- on a preferential basis and Promoters / Promoter Group(s) / including Persons Acting in Concert with them (PAC) and Other Investors or select group of persons, and to create, offer, issue and allot upto 1000000 warrants at a price of Rs 80/- per warrant, on a preferential basis to Promoters / Promoter Group(s) / including Persons Acting in Concert with them (PAC), and as detailed in the explanatory statement forming part of this Notice with a right to subscribe, to equal number of equity shares, on conversion within a period of 18 months, of nominal value of Rs 6/- each fully paid up at a price of Rs 80/- including premium of Rs 74/-, which price is calculated in accordance with the Guidelines for Preferential Issue issued by SEBI so that the total number of equity shares to be issued by the Company upon conversion of the warrants does not exceed 1000000 Equity Shares, on such terms and conditions as may, be decided and deemed appropriate by the Board of Directors of the Company (the Board which shall be deemed to include any duly authorized committee thereof) at the time of issue or allotment, subject to the overall guidelines governing such issue.
Further resolved that, the issue of equity shares as above, shall be subject to the following terms and conditions:
1. 1350000 Equity Shares being allotted to Promoter shall be locked in for a period of 3 years from the date of their allotment, and 187500 Equity Shares being allotted to Other Investors shall be locked in for a period of 1 year.
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