Surana Telecom Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on October 13, 2007, inter alia, have accorded the following:
1. To classify the Authorised Share Capital from Rs 15,00,00,000 (Rupees Fifteen Crores only) divided into 2.50 Crores Equity Shares of Rs 5/- each and 2.50 Lakhs Redeemable Preference Shares of Rs 100/- each to Rs 15,00,00,000 (Rupees Fifteen Crores only) divided into 3,00,00,000 (Three Crores only) equity shares of Rs 5/- each (Rupees Five only), and consequently to amend the existing Clause V of the Memorandum of Association and Article 3 of the Articles of Association of the Company.
2. Issue of Equity Share Warrants on preferential basis to M/s. Foster Capital Ventures Ltd, M/s. Trimurthi Advisory Services Pvt. Ltd and M/s. Bhagyanagar Ventures Ltd not exceeding Rs 33,95,600 Warrants, each warrant convertible into one equity share of the Company at the option of Warrant holder at a face value of Rs 5/- each for cash.
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