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| Exchange Disseminated Time | Jumbo Bag Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 02, 2007, inter alia, to transact the following business:
1. Increase the Authorised Capital of the Company from Rs 15,00,00,000/- (Rupees Fifteen Crores only) divided into 90,00,000 Equity Shares of Rs 10/- each aggregating to Rs 9,00,00,000/- and 6,00,000 Redeemable Cumulative Preference Shares of Rs 100/- each aggregating to Rs 6,00,00,000/- to Rs 20,00,00,000/- (Rupees Twenty Crores) divided into 1,40,00,000 Equity Shares of Rs 10/- each aggregating to Rs 14,00,00,000/- and 6,00,000 Redeemable Cumulative Preference Shares of Rs 100/- each aggregating to Rs 6,00,00,000/- & consequential amendments in the Memorandum & Articles of Association of the Company.
2. To create, offer, issue and allot up to 32,00,000 (Thirty two lakhs) Warrants at Rs 20/- (Rupees Twenty only) per warrant, on a preferential basis to Promoters / Promoter Group (s) / including Persons Acting in Concert with them (PAC) and Other Investors or Select Group of Persons, with a right to subscribe to equal number of equity shares on conversion within a period of 18 months of nominal value of Rs 10/- (Rupees Ten only) each fully paid up at a price of Rs 20 (Rupees Twenty only) including premium of Rs 10/- (Rupees Ten only), which price is calculated in accordance with the Guidelines for Preferential Issue issued by SEBI, so that the total number of equity shares to be issued by the Company upon conversion of the Warrants does not exceed 32,00,000 (Thirty two lakhs) equity shares, on such terms and conditions as may be decided and deemed appropriate by the Board of Directors of the Company ("Board"), at the time of issue or allotment, subject to the overall guidelines governing such issue, subject to necessary provisions & approvals. |
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