Autolite India Ltd has informed that the Board of Directors of the Company at its meeting held on March 29, 2008, has taken the following decisions:
1. Approve the allotment of 3,80,000 Equity Shares and 4,00,000 Warrants convertible into equity shares.
1. The allotment is done as under:
a) 190,000 Equity shares to Autopal Glass Pvt Ltd and 190,000 Equity Shares to Autopal Marketing Pvt Ltd aggregating to 380,000 Equity shares.
b) 200,000 Warrants to Autopal Glass Pvt Ltd and 200,000 Warrants to Autopal Marketing Pvt Ltd aggregating to 400,000 Warrants convertible into Equity shares।
2. The Board further approves the conversion of 400,000 Warrants into 400,000 Equity Shares which were allotted to Autopal Glass Pvt Ltd - 2 Lacs Warrants and Autopal Marketing Pvt Ltd
1. Approve the allotment of 3,80,000 Equity Shares and 4,00,000 Warrants convertible into equity shares.
1. The allotment is done as under:
a) 190,000 Equity shares to Autopal Glass Pvt Ltd and 190,000 Equity Shares to Autopal Marketing Pvt Ltd aggregating to 380,000 Equity shares.
b) 200,000 Warrants to Autopal Glass Pvt Ltd and 200,000 Warrants to Autopal Marketing Pvt Ltd aggregating to 400,000 Warrants convertible into Equity shares।
2. The Board further approves the conversion of 400,000 Warrants into 400,000 Equity Shares which were allotted to Autopal Glass Pvt Ltd - 2 Lacs Warrants and Autopal Marketing Pvt Ltd
3.Lacs warrants for which balance amount of Rs 90 Lacs along with request for conversion of warrants into equity shares was received by the Company.
4। Discussed the business plan for the year 2008-09.
5. Take on record the declarations submitted under Section 299(3) of the Companies Act, 1956.
5. Take on record the declarations submitted under Section 299(3) of the Companies Act, 1956.
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