|DB International Stock Brokers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 11, 2009, has transacted the following:
1. The Board of Directors of the Company has recommended the Preferential Issue upto 40,00,000 shares /Warrants to the interested investors.
2. The Board of Directors of the Company has approved to increase the Authorised Capital of the Company from Rs 31,000,000/- to Rs 75,000,000/- divided into to 7,500,000/- equity shares of Rs 10/- each.
3. The Board of Directors of the Company wishes to call the Extra Ordinary General Meeting of the members of the Company on September 14, 2009 to obtain the consent of the members for the above mentioned points.
DB International Stock Brokers Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on September 14, 2009, inter alia, have accorded the following:
1. The members of the Company have approved for increase of the Authorised capital of the Company from Rs. 3,10,00,000 to Rs. 10,00,00,000.
2. Issue and allot the Convertible Warrants on preferential basis.
3. The members of the Company has approved for the alteration of Articles of Association. of the Company.
(As Per BSE Announcement Dated on 15/09/2009)
DB International Stock Brokers Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on September 14, 2009, inter alia, have accorded to the following:
1. Increase of Authorized Share Capital Increase in the Authorised Share Capital of the Company from Rs 310,00,000/- to Rs 10,00,00,000/- by the creation of 69,00,000 Equity shares of Rs 10/- each ranking pari - passu in a respects with the existing shares in the Company and consequential amendments in the Memorandum and Articles of Association of the Company.
2. Issue and Allot Equity Shares / Warrants on preferential basis: Authority to the Board to create, offer, issue and allot, from time to time in one or more tranches, 40,00,000 Equity Shares and / or Warrants entitling to apply for equity shares to be subscribed by promoters / Promoter Group, domestic / foreign institutions, institutional investors, banks, mutual funds, insurance companies, bodies corporate, individuals or other entities, whether or not such investors are Members of the Company, under a preferential issue through offer letter and / or circular and / or information memorandum and / or such other documents / writings, in such a manner and on such terms and conditions as may be determined by the Board in its absolute discretion; provided that the price of the equity shares so issued shall not be less than Rs 29.00 (including a premium of Rs 19.00) per equity share of Rs 10 each being the price with respect to the Relevant Date i.e. August 14, 2009, as prescribed under the Guidelines for Preferential issues contained in Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 including any statutory modification or re-enactment thereof for the time being in force, subject to necessary provisions & approvals.
3. Amendment in the Articles of Association of the Company by inserting the definition in clause No. 2 of Articles of Association in alphabetical order
(As Per BSE Announcement Website dated on 12.10.2009)|