Neo Corp International Ltd has informed that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on February 22, 2008, inter alia, have approved the following:
1. To cancel un-issued 17,52,500 Equity Shares represented by the forfeited shares of the Companies Act, 1956.
2. To increase the authorized capital of the Company to Rs 18,00,00,000/- (Rupees Eighteen crores) divided into 1,70,00,000 equity shares of Rs 10/- each and 10,00,000 Cumulative Compulsorily Convertible Preference shares (CCCPS) of Rs 10/- each.
3. To offer, issue and allot 4,96,323 Cumulative Compulsorily Convertible Preference shares (CCCPS) convertible into Equity Shares on preferential basis, to foreign Companies belonging to non-promoter category at a price of Rs 68 per CCCPS (Face value of Rs 10 and premium of Rs 58) determined in accordance with the provisions of chapter XIII of SEBI (DIP) Guideline, 2000 and the Relevant date shall be January 23, 2008 determined as per the SEBI(DIP) Guidelines 2000.
4. To offer, issue and allot 20,00,000 warrants convertible into Equity Shares on preferential basis to the persons / entities belonging to promoters as well as non promoter category at a price of Rs 68 per warrant (Face value Rs 10/- and premium of Rs 58 per share) which is determined in accordance with the provisions of chapter XIII of SEBI (DIP) Guideline, 2000 and the relevant date shall be January 23, 2008 determined as per the SEBI (DIP) Guidelines, 2000. The proposed allottees of the convertible warrants shall pay an amount of Rs 10 per warrant and the balance amount on or before the date of conversion, in one or more installments as may be decided by the Board.
1. To cancel un-issued 17,52,500 Equity Shares represented by the forfeited shares of the Companies Act, 1956.
2. To increase the authorized capital of the Company to Rs 18,00,00,000/- (Rupees Eighteen crores) divided into 1,70,00,000 equity shares of Rs 10/- each and 10,00,000 Cumulative Compulsorily Convertible Preference shares (CCCPS) of Rs 10/- each.
3. To offer, issue and allot 4,96,323 Cumulative Compulsorily Convertible Preference shares (CCCPS) convertible into Equity Shares on preferential basis, to foreign Companies belonging to non-promoter category at a price of Rs 68 per CCCPS (Face value of Rs 10 and premium of Rs 58) determined in accordance with the provisions of chapter XIII of SEBI (DIP) Guideline, 2000 and the Relevant date shall be January 23, 2008 determined as per the SEBI(DIP) Guidelines 2000.
4. To offer, issue and allot 20,00,000 warrants convertible into Equity Shares on preferential basis to the persons / entities belonging to promoters as well as non promoter category at a price of Rs 68 per warrant (Face value Rs 10/- and premium of Rs 58 per share) which is determined in accordance with the provisions of chapter XIII of SEBI (DIP) Guideline, 2000 and the relevant date shall be January 23, 2008 determined as per the SEBI (DIP) Guidelines, 2000. The proposed allottees of the convertible warrants shall pay an amount of Rs 10 per warrant and the balance amount on or before the date of conversion, in one or more installments as may be decided by the Board.
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