Indiaco Ventures Ltd has informed that the Board of Directors of the Company at its meeting held on January 22, 2008, has transacted the following business:
1. Considered the appointment of Mr. Vinayak Bhattacharjee, Head-Southern Europe of Barclays Global Investors Ltd., as an independent director on the Board of the Company and decided to defer it till the next Board meeting as the documentation in this regard is awaited to be received from him.
2. Approved the issuance of Warrants convertible into equity shares of Rs 10/- each on a preferential basis, subject to the approval of Shareholders to be obtained by way of postal ballot and also in accordance with the provisions of Section 81 (1A) of the Companies Act, 1956 and all applicable Guidelines & Regulations as laid down by SEBI / FEMA. The details of the issue are as under:
A. Name of the entity: Iaquavit Management Pvt. Ltd.
- Type of Company: Promoter Company
- No. of warrants: 112000
- Issue Price: Rs 650/- each
- Amount to be paid on application: 10% of the total amount
B. Name of the entity: Lupine Venture Pvt. Ltd.
- Type of Company: Non-Promoter Company
- No. of warrants: 28000
- Issue Price: Rs 650/- each
- Amount to be paid on application: 10% of the total amount
C. Name of the entity: Vinayak Bhattacharjee
- Type of Company: Non Promoter
- No. of warrants: 25300
- Issue Price: Rs 650/- each
- Amount to be paid on application: 10% of the total amount
Total No. of warrants: 165300.
1. Considered the appointment of Mr. Vinayak Bhattacharjee, Head-Southern Europe of Barclays Global Investors Ltd., as an independent director on the Board of the Company and decided to defer it till the next Board meeting as the documentation in this regard is awaited to be received from him.
2. Approved the issuance of Warrants convertible into equity shares of Rs 10/- each on a preferential basis, subject to the approval of Shareholders to be obtained by way of postal ballot and also in accordance with the provisions of Section 81 (1A) of the Companies Act, 1956 and all applicable Guidelines & Regulations as laid down by SEBI / FEMA. The details of the issue are as under:
A. Name of the entity: Iaquavit Management Pvt. Ltd.
- Type of Company: Promoter Company
- No. of warrants: 112000
- Issue Price: Rs 650/- each
- Amount to be paid on application: 10% of the total amount
B. Name of the entity: Lupine Venture Pvt. Ltd.
- Type of Company: Non-Promoter Company
- No. of warrants: 28000
- Issue Price: Rs 650/- each
- Amount to be paid on application: 10% of the total amount
C. Name of the entity: Vinayak Bhattacharjee
- Type of Company: Non Promoter
- No. of warrants: 25300
- Issue Price: Rs 650/- each
- Amount to be paid on application: 10% of the total amount
Total No. of warrants: 165300.
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