| Board has considered the following;
1. Board has approved the Subscription cum Shareholders Agreement (SSA) to be entered into between the Company and Oman India Joint Investment Fund for subscription of 7,74,195 equity shares of the company of Rs. 10/- each, representing approximately 4.28 % of the expanded equity share capital of the company by way of a preferential issue in terms of chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (Regulations),
2. Subject to the consent of the members of the Company, preferential issue of 7,74,195 equity shares of the Company for an aggregate amount of INR 72,00,01,350 (Subscription Amount), The said allotment shall be effected as per the terms and conditions of the SSA entered into between the Company and Oman India Joint Investment Fund in compliance with all relevant laws, regulations and conditions, obtaining all requisite approvals including the shareholders approval at an extra ordinary general meeting on August 27, 2012.
3. Accorded its consent for convening an extra ordinary general meeting on August 27, 2012, to seek approval of shareholders for the preferential issue to Oman India Joint Investment Fund in terms of the Regulations and also approved the draft notice of the extra ordinary general meeting.
4. Board has affixed the date of the Extraordinary General Meeting August 27, 2012, and approved the Notice calling Extraordinary General Meeting of the Company.
Solar Industries India Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the Company will be held on August 27, 2012.
(As Per BSE Announcement Website Dated on 08/08/2012)
Solar Industries India Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the Company was held on August 27, 2012.
(As per BSE Announcement Dated on 27.08.2012)
Solar Industries India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 06, 2012, have issued and allotted 7,74,195 Equity Shares at an issue price of Rs. 930 per share (face value of Rs. 10/- each at a premium of Rs. 920 per share) to Oman India Joint Investment Fund, a Private Equity Fund, in terms of the Shareholder`s approval vide the special Resolution passed in the Extraordinary General Meeting on August 27, 2012.
(As Per BSE Announcement Dated on 06.09.2012) |
| Solar Industries India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 11, 2011, inter alia, has considered the following;
Board of Directors in their meeting approved a Notice of Extraordinary General Meeting to be held on December 12, 2011, to consider introduction of Employee Stock Option Scheme.
Board has also approved a draft of the Scheme subject to approval of members to be obtained in Extraordinary General Meeting.
Solar Industries India Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on December 12, 2011.inter alia, to transact the following: 1. To create, offer, issue grant/allot up to 5,00,000 (Five lakhs) Equity Stock options to the eligible present and future employees of the Company in one or more tranches through Employees Stock Options Scheme (ESOS) which entitles the option holders to subscribe to 1 (one) equity share of the Company of face value of Rs 10/- (Rs Ten) per option granted at grant price on such terms and conditions as may be fixed or determined by the Board. 2. To extend the benefits of ESOS proposed in the Resolution number 1 in this Notice, to employees of subsidiary Companies, whether Indian or Foreign Subsidiaries, existing and as and when formed, under prevailing laws,
rules and regulations and /or amendments thereto from time to time on such terms and conditions as may be fixed or determined by the Board on the basis of Salient Features of ESOS mentioned in aforesaid resolution and its annexure.
(AsPer BSE Announcement Website dated on 17/11/2011)
Solar Industries India Ltd has informed BSE that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on December 12, 2011, have passed the resolutions for grant of Employee Stock Options to employees of the Company and employees of the subsidiary Company.
In a subsequent meeting of Remuneration & Compensation Committee of the Board held on December 12, 2011, 65920 options have been granted at an exercise price of Rs. 400 per share. These options will vest over a period of 3 years.
(As Per BSE Announcement Website dated on 12.12.2011)
Solar Industries India Ltd has informed BSE that the members at the 17th Extra Ordinary General Meeting (EGM) of the Company held on December 12, 2011, inter alia, have conducted and approved by the Members with requisite majority is as follows:
1. Approved Employees Stock Options Scheme and alloted upto 5,00,000 (Five lakhs) Equity Stock options to the eligible present and future employees of the Company.
2. Approved the benefit of Employees Stock Options Scheme to employees of subsidiary Companies, whether Indian or Foreign Subsidiaries of the Company.
(As Per BSE Announcement Website dated on 14.12.2011) |