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| Exchange Disseminated Time | BGR Energy Systems Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on January 28, 2011, inter alia, to transact the following business:
1. To accorded for modification of the utilization of IPO proceeds as set out hereunder:
i. Expenditure items: Augment long term working capital requirements
- Estimated amount to be financed as per prospectus: Rs. 125.00 Crores
- Amount already utilized: Rs. 125.00 Crores
- Amount proposed to be utilized: Rs. 65.12 Crores
ii. Expenditure items: Establish manufacturing and assembly facilities
- Estimated amount to be financed as per prospectus: Rs. 54.00 Crores
- Amount already utilized: Nil
- Amount proposed to be utilized: Nil
iii. Expenditure items: Fund expenditure for general corporate purposes
- Estimated amount to be financed as per prospectus: Rs. 11.12 Crores
- Amount already utilized: Nil
- Amount proposed to be utilized: Nil
2. Accorded to the appointment of Ms. Swarnamugi Karthik, daughter of Mr. B. G. Raghupathy, Chairman & Managing Director and Mrs. Sasikala Raghupathy, Director of the Company, to hold and continue to hold an Office or Place of Profit as “Deputy General Manager (Central Procurement)” (or any other designation and roles which the Board / Committee of the Board may decide from time to time) on such remuneration and terms and conditions as set out in the Explanatory Statement attached to this Notice.
3. Accorded to the appointment of Ms. R. Priyadarshini, daughter of Mr. B. G. Raghupathy, Chairman & Managing Director and Mrs. Sasikala Raghupathy, Director of the Company, to hold and continue to hold an Office or Place of Profit as Manager (Corporate Planning & Monitoring) for any other designation and roles which the Board / Committee of the Board may decide from time to time) on such remuneration and terms and conditions as set out in the Explanatory Statement attached to this Notice. |
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