Victoria Enterprises Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 20, 2008, inter alia, have accorded to the following:
1. Issue of 1,00,000 5% Optionally Convertible Preference Shares (OCPS) of Rs 1000/- each at par on Preferential basis to following allottees.
(i) Lavender Venture Pvt Ltd : 70,000 no of 5% OCPS
(ii) Aster Venture Pvt Ltd: 30,000 no of 5% OCPS
Holders of OCPS shall have an option, either to convert each OCPS of Rs l000/- each in one or more tranches, into such number of Equity Shares of Rs 10/- each (Upto Cumulative maximum of 88000 Equity Shares of Rs 10/- each) within a period of 18 months but not earlier than 6 months from the date of allotment of OCPS, at a price computed as per the provisions of SEBI (Disclosure and Protection) Guidelines 2000, with a minimum base price of Rs 600/- per Equity Share of Rs 10/ each. OCPS remaining after exercising conversion option shall be converted into 5% Non Cumulative Redeemable Preference Shares of Rs 1000/- each or to convert each OCPS of Rs 1000/- each to 5% Non Cumulative Redeemable Preference Shares of Rs l000/- each.
2. Increase in Authorised Capital from Rs 5 Crores to Rs 15 Crores, by creation of1,00,000 Preference Shares of Rs 1000/- each amounting to Rs 10 Crores.
3. Alteration of Clause V (Capital Clause) of the Memorandum of Association of the Company consequent upon increase in Authorised Share Capital.
4. Alteration of Article 5 (Relating to Capital) and Article 10 (Relating to Authority for issue of OCPS) of the Articles of Association of the Company.
1. Issue of 1,00,000 5% Optionally Convertible Preference Shares (OCPS) of Rs 1000/- each at par on Preferential basis to following allottees.
(i) Lavender Venture Pvt Ltd : 70,000 no of 5% OCPS
(ii) Aster Venture Pvt Ltd: 30,000 no of 5% OCPS
Holders of OCPS shall have an option, either to convert each OCPS of Rs l000/- each in one or more tranches, into such number of Equity Shares of Rs 10/- each (Upto Cumulative maximum of 88000 Equity Shares of Rs 10/- each) within a period of 18 months but not earlier than 6 months from the date of allotment of OCPS, at a price computed as per the provisions of SEBI (Disclosure and Protection) Guidelines 2000, with a minimum base price of Rs 600/- per Equity Share of Rs 10/ each. OCPS remaining after exercising conversion option shall be converted into 5% Non Cumulative Redeemable Preference Shares of Rs 1000/- each or to convert each OCPS of Rs 1000/- each to 5% Non Cumulative Redeemable Preference Shares of Rs l000/- each.
2. Increase in Authorised Capital from Rs 5 Crores to Rs 15 Crores, by creation of1,00,000 Preference Shares of Rs 1000/- each amounting to Rs 10 Crores.
3. Alteration of Clause V (Capital Clause) of the Memorandum of Association of the Company consequent upon increase in Authorised Share Capital.
4. Alteration of Article 5 (Relating to Capital) and Article 10 (Relating to Authority for issue of OCPS) of the Articles of Association of the Company.
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