Shriram City Union Finance Ltd has informed that the Board of Directors of the Company at its meeting held on April 04, 2008, subject to the approval of shareholders, has approved issue of
1. a) upto 12,50,000 Equity Shares of Rs 10/- each to Bessemer Venture Partners Trust
b) upto 7,50,000 Equity Shares of Rs 10/- each to India Advantage Fund VI
c) upto 6,62,500 Equity Shares of Rs 10/- to Van Gogh Ltd
d) upto 5,87,500 Equity Shares of Rs 10/- each to Asiabridge Fund I LLC.
2. The Board at the said meeting have also, subject to approval of shareholders, approved the issue of
a) upto 35,00,000 Warrants to Shriram Retail Holdings Pvt Ltd, each warrant convertible at the option of the holder into one Equity Share of Rs 10 each within 18 months from the date of their allotment.
b) upto 12,50,000 warrants to Bessemer Venture Partners Trust, each warrant convertible at the option of the holder into one Equity Share of Rs 10 each within 12 months from the date of their allotment.
c) upto 7,50,000 warrants to India Advantage Fund VI, each warrant convertible at the option of the holder into one Equity Share of Rs 10 each within 12 months from the date of their allotment.
d) upto 6,62,500 warrants to Van Gogh Ltd, each warrant convertible at the option of the holder into one Equity Share of Rs 10 each within 12 months from the date of their allotment.
e) upto 5,87,500 warrants to Asiabridge Fund I LLC, each warrant convertible at the option of the holder into one Equity Share of Rs 10 each within 12 months from the date of their allotment.
The said issues would be for cash on Preferential basis at a price not less than
Rs 400/ per share (including a premium of Rs 390/ per share) which is the price
higher than the price determined in accordance with the SEBI (Disclosure and Investor
Protection) Guidelines, 2002 on Preferential Issues.
The Board of Directors at its meeting held on April 04, 2008 has also decided to implement Employees Stock Option Scheme 2008 subject to the necessary approvals.
It was decided to convene an Extraordinary General Meeting to obtain the approval of
Shareholders with regard to the above on May 03, 2008.
1. a) upto 12,50,000 Equity Shares of Rs 10/- each to Bessemer Venture Partners Trust
b) upto 7,50,000 Equity Shares of Rs 10/- each to India Advantage Fund VI
c) upto 6,62,500 Equity Shares of Rs 10/- to Van Gogh Ltd
d) upto 5,87,500 Equity Shares of Rs 10/- each to Asiabridge Fund I LLC.
2. The Board at the said meeting have also, subject to approval of shareholders, approved the issue of
a) upto 35,00,000 Warrants to Shriram Retail Holdings Pvt Ltd, each warrant convertible at the option of the holder into one Equity Share of Rs 10 each within 18 months from the date of their allotment.
b) upto 12,50,000 warrants to Bessemer Venture Partners Trust, each warrant convertible at the option of the holder into one Equity Share of Rs 10 each within 12 months from the date of their allotment.
c) upto 7,50,000 warrants to India Advantage Fund VI, each warrant convertible at the option of the holder into one Equity Share of Rs 10 each within 12 months from the date of their allotment.
d) upto 6,62,500 warrants to Van Gogh Ltd, each warrant convertible at the option of the holder into one Equity Share of Rs 10 each within 12 months from the date of their allotment.
e) upto 5,87,500 warrants to Asiabridge Fund I LLC, each warrant convertible at the option of the holder into one Equity Share of Rs 10 each within 12 months from the date of their allotment.
The said issues would be for cash on Preferential basis at a price not less than
Rs 400/ per share (including a premium of Rs 390/ per share) which is the price
higher than the price determined in accordance with the SEBI (Disclosure and Investor
Protection) Guidelines, 2002 on Preferential Issues.
The Board of Directors at its meeting held on April 04, 2008 has also decided to implement Employees Stock Option Scheme 2008 subject to the necessary approvals.
It was decided to convene an Extraordinary General Meeting to obtain the approval of
Shareholders with regard to the above on May 03, 2008.
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