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| Exchange Disseminated Time | Logix Microsystems Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the Special Resolution relating to issue and allot on preferential basis 125,000 (One Lakh Twenty Five Thousand) fully paid Equity Shares of nominal value of Rs. 10/- (Rupees Ten Only) at a price of Rs. 320/- (Rupees Three Hundred Twenty Only) per share, which includes a premium of Rs 310/- (Rupees Three Hundred Ten Only) to Add-on-Auto LLC, USA, towards stock swap to provide for the acquisition of 51% common stock and / or common stock equivalents of AOA lzmo LLC, USA, by Homestar Systems Inc, USA, a Subsidiary of the Company, as per the Membership Interest Purchase Agreement March 26, 2008, which shares shall be subject to lock-in provisions as per requirements, if any, of the Securities and Exchange Board of India.
- Name of proposed allottee: Add-on-Auto-LLC, USA
- No. of Shares: 125000
- Value (Rs): 4,00,00,000
The Board of Directors has appointed Mr. Vijaykrishna KT, Practicing Company Secretary as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.
The Postal Ballot form duly completed should reach the scrutinizer on or before the close of working hours on January 30, 2010. The scrutinizer will submit his report to the Designated Director of the Company after completion of the scrutiny and the results of the postal ballot will be announced on February 02, 2010. |
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