Shyam Star Gems Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 04, 2008, inter alia, have accorded the following:
1. Increased the Authorized Share Capital of the Company been from Rs 7,00,00,000 (Seven Crores only) divided into 70,00,000 Seventy Lacs Equity Shares of Rs 10/- each to Rs 15,00,00,000 (Fifteen Crores only) divided into 1,50,00,000 (One Crore Fifty Lacs) Equity Shares of Rs 10/- each and consequently amendment in the Memorandum & Articles of Association of the Company.
2. Authority to the Board to offer, issue and allot, for cash on preferential basis the following securities on such terms and conditions as may be deemed appropriate by the Board in one or more tranches:
5,00,000 (Five Lakhs) Convertible Equity Share Warrants at the rate of Rs 135/- per warrant aggregating to Rs 6,75,00,000/- (Rupees Six Crores Seventy Five Lacs Only) to the following individuals belonging to Promoters and Promoters Group.
- Name of the Proposed Allottees
a. Indiraben Jayantilal Bhansali
No of Equity Share Warrants : 65,000
b. Sanjay J Bhansali
No of Equity Share Warrants : 65,000
c. Nipa Devang Bhansali
No of Equity Share Warrants : 55,000
d. Devang Jayantilal Bhansali
No of Equity Share Warrants : 2,50,000
e. Shefali Sanjay Bhansali
No of Equity Share Warrants : 65,000The issue of Convertible Equity Share Warrants is subject to the following terms and conditions:
i) The warrants shall catty a right to convert into Equity Shares at a price of Rs 135/- (including premium of Rs 125/- per share).
ii) On allotment of Share Warrants an amount equivalent to at least 10% of the price of Rs 135/- is payable.
1. Increased the Authorized Share Capital of the Company been from Rs 7,00,00,000 (Seven Crores only) divided into 70,00,000 Seventy Lacs Equity Shares of Rs 10/- each to Rs 15,00,00,000 (Fifteen Crores only) divided into 1,50,00,000 (One Crore Fifty Lacs) Equity Shares of Rs 10/- each and consequently amendment in the Memorandum & Articles of Association of the Company.
2. Authority to the Board to offer, issue and allot, for cash on preferential basis the following securities on such terms and conditions as may be deemed appropriate by the Board in one or more tranches:
5,00,000 (Five Lakhs) Convertible Equity Share Warrants at the rate of Rs 135/- per warrant aggregating to Rs 6,75,00,000/- (Rupees Six Crores Seventy Five Lacs Only) to the following individuals belonging to Promoters and Promoters Group.
- Name of the Proposed Allottees
a. Indiraben Jayantilal Bhansali
No of Equity Share Warrants : 65,000
b. Sanjay J Bhansali
No of Equity Share Warrants : 65,000
c. Nipa Devang Bhansali
No of Equity Share Warrants : 55,000
d. Devang Jayantilal Bhansali
No of Equity Share Warrants : 2,50,000
e. Shefali Sanjay Bhansali
No of Equity Share Warrants : 65,000The issue of Convertible Equity Share Warrants is subject to the following terms and conditions:
i) The warrants shall catty a right to convert into Equity Shares at a price of Rs 135/- (including premium of Rs 125/- per share).
ii) On allotment of Share Warrants an amount equivalent to at least 10% of the price of Rs 135/- is payable.
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