Sahyadri Industries Ltd has informed that the Board of Directors of the Company at its meeting held on January 16, 2008, has transacted the following:
1. To Increase the Authorised Capital of the Company from Rs 11,00,00,000 (Rupees Eleven Crores) divided into 1,10,00,000 (One Crore Ten Lakh) equity shares of Rs 10/- each to Rs 12,00,00,000 (Rupees Twelve Crores) divided into 1,20,00,000 (One Crore Twenty Lakh) equity shares of Rs 10/- each.
2. To issue 13,00,000 Equity Shares & 7,00,000 convertible warrants (option to convert into equity shares within 6 months) to the following Investors (Non Promoter Group) at a price of Rs 85 per share or the minimum issue price calculated in accordance with chapter XIII of Guidelines for preferential issue of the SEBI(DIP) Guidelines, 2000, whichever is higher on Preferential basis,
a. Jalan Cement Works Ltd (Domestic Company):
- No of Shares: 6,50,000
- No of Warrants: 3,50,000
b. Fontana Commodeal Pvt Ltd (Domestic Company)
- No of Shares: 6,50,000
- No of Warrants: 3,50,000
3. To convene Extra Ordinary General meeting of the Company on February 14, 2008 to pass resolution under section 81(1A) of the Companies Act, 1956.
1. To Increase the Authorised Capital of the Company from Rs 11,00,00,000 (Rupees Eleven Crores) divided into 1,10,00,000 (One Crore Ten Lakh) equity shares of Rs 10/- each to Rs 12,00,00,000 (Rupees Twelve Crores) divided into 1,20,00,000 (One Crore Twenty Lakh) equity shares of Rs 10/- each.
2. To issue 13,00,000 Equity Shares & 7,00,000 convertible warrants (option to convert into equity shares within 6 months) to the following Investors (Non Promoter Group) at a price of Rs 85 per share or the minimum issue price calculated in accordance with chapter XIII of Guidelines for preferential issue of the SEBI(DIP) Guidelines, 2000, whichever is higher on Preferential basis,
a. Jalan Cement Works Ltd (Domestic Company):
- No of Shares: 6,50,000
- No of Warrants: 3,50,000
b. Fontana Commodeal Pvt Ltd (Domestic Company)
- No of Shares: 6,50,000
- No of Warrants: 3,50,000
3. To convene Extra Ordinary General meeting of the Company on February 14, 2008 to pass resolution under section 81(1A) of the Companies Act, 1956.
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