HEG Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 03, 2008, have unanimously approved the following:
1. By way of special resolutions:-
To create, offer, allot and issue on preferential basis
i. 60,00,000 Warrants of Rs 365/- each aggregating to Rs 2,19,00,00,000/- (Rupees Two Hundred Nineteen Crores Only) with option of conversion of each Warrant into One Equity Share of Rs 10/ each within a period of 18 months from the date of issue and allotment to Promoters, Directors and Persons acting in concert, which includes Associates, Relatives and Friends of such Promoters and Directors.
ii. 3,40,000 Warrants of Rs 365/- each aggregating to Rs 12,41,00,000/- (RupeesTwelve Crores Forty One Lacs Only) with option of conversion of each Warrant into One Equity Share of Rs 10/- each within a period of 18 months from the date of issue and allotment to Employees of the Company, Group Companies and Associates Companies;subject to the compliance of applicable laws and provisions in this regard.
2. By way of ordinary resolution:-
Appointment of Mr. R C Surana, Executive Director of the Company for a period of 5 (Five) years w.e.f. January 29, 2008.
1. By way of special resolutions:-
To create, offer, allot and issue on preferential basis
i. 60,00,000 Warrants of Rs 365/- each aggregating to Rs 2,19,00,00,000/- (Rupees Two Hundred Nineteen Crores Only) with option of conversion of each Warrant into One Equity Share of Rs 10/ each within a period of 18 months from the date of issue and allotment to Promoters, Directors and Persons acting in concert, which includes Associates, Relatives and Friends of such Promoters and Directors.
ii. 3,40,000 Warrants of Rs 365/- each aggregating to Rs 12,41,00,000/- (RupeesTwelve Crores Forty One Lacs Only) with option of conversion of each Warrant into One Equity Share of Rs 10/- each within a period of 18 months from the date of issue and allotment to Employees of the Company, Group Companies and Associates Companies;subject to the compliance of applicable laws and provisions in this regard.
2. By way of ordinary resolution:-
Appointment of Mr. R C Surana, Executive Director of the Company for a period of 5 (Five) years w.e.f. January 29, 2008.
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