Artefact Projects Ltd has informed that the Board of Directors of the Company at its meeting held on January 17, 2008, inter alia, has considered and approved the following:
1. The Board considered the possible proposals for raising funds as part of its long-term fund raising exercise to finance Capital Expenditure, Working Capital requirements and business expansion needs if any through Qualified Institutional Placement route in accordance with the provisions of Section 81 (1A) and all other applicable provisions of the Companies Act, 1956 and pursuant to the provisions of Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000 through Equity shares, convertible debentures or debentures carrying a right to subscribe to equity shares, Syndicate Loans, External Commercial borrowings, Foreign Currency Convertible Bonds, Preference Shares, Warrants or any other instruments upto Rs 30 crores.
2. Issue 8,55,000 Warrants of face value of Rs 10/- to promoter / promoter group on preferential allotment basis, entitling the holder of warrant to apply for and obtain allotment of one Equity Share against each Warrant in accordance with the provisions of Section 81 (1A) and all other applicable provisions of the Companies Act, 1956 and pursuant to the provisions of Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000.
3. Convene an Extra Ordinary General Meeting for the approval of the aforesaid QIP proposal & Preferential Issue on February 18, 2008.
1. The Board considered the possible proposals for raising funds as part of its long-term fund raising exercise to finance Capital Expenditure, Working Capital requirements and business expansion needs if any through Qualified Institutional Placement route in accordance with the provisions of Section 81 (1A) and all other applicable provisions of the Companies Act, 1956 and pursuant to the provisions of Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000 through Equity shares, convertible debentures or debentures carrying a right to subscribe to equity shares, Syndicate Loans, External Commercial borrowings, Foreign Currency Convertible Bonds, Preference Shares, Warrants or any other instruments upto Rs 30 crores.
2. Issue 8,55,000 Warrants of face value of Rs 10/- to promoter / promoter group on preferential allotment basis, entitling the holder of warrant to apply for and obtain allotment of one Equity Share against each Warrant in accordance with the provisions of Section 81 (1A) and all other applicable provisions of the Companies Act, 1956 and pursuant to the provisions of Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000.
3. Convene an Extra Ordinary General Meeting for the approval of the aforesaid QIP proposal & Preferential Issue on February 18, 2008.
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