|
| Exchange Disseminated Time | Somany Ceramics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 22, 2011, inter alia, have resolved to convene an Extra-Ordinary General Meeting of the Company on March 16, 2011 to seek members approval :
1. to create, offer, issue and allot equity shares and/or securities and/or other financial instruments, in one or more tranches, whether denominated in rupee or foreign currency(ies) in the course of international and/or domestic offering(s) in one or more foreign market(s) for an aggregate sum not exceeding Rs. 100 crore, inclusive of premium, as may be determined by the Board through Qualified Institutions Placement ("QIP") basis.
2. to increase limits of investment by foreign Investors from 30% to 40% of the paid up Equity Share Capital of the Company.
3. to modify and increase the limits of the Company to create mortgage and/or charge, in addition to the mortgages and/or charges and or hypothecation created/to be created by the Company under Section 293(1)(a) of the Companies Act, 1956. |
|
|