Evinix Accessories Ltd has informed that the Board of Directors of the Company at its meeting held on November 26, 2007, inter alia, has approved the following Important matters alongwith the miscellaneous matters related with the proposed issue of GDRs / ADRs / Right Issue / FCCBs:
1. The approval accorded for further issue of equity shares of the Company by way of domestic / international offering through GDRs / ADRs / Right Issue / FCCBs upto aggregate amount of Rs 88.00 Crores (including a Green Shoe Option upto Rs 8.00 Crores, if any) or its equivalent in one or more currencies, inclusive of Share premium, if any.
2. The approval accorded for issuing Foreign Currency Convertible Bonds (FCCB) convertible into equity shares, upto an aggregate amount not exceeding Rs 48.00 Crores (including a Green Shoe Option of Rs 8.00 Crores, if any) or its equivalent in one or more currencies, for possible acquisition Opportunities that the Company may wish to pursue.
3. The formation of Capital Issue Committee for the above purposes.
4. The Board also authorised the Capital Issue Committee to decide and finalise all the matters relating to the above mentioned purposes.
The above is within the overall limit upto which further shares may be issued in accordance with the resolution passed by the Shareholders of the Company at the Annual General Meeting held on September 27, 2007, at such price and time as may be determined subject to market conditions.
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