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| Exchange Disseminated Time | Vardhman Polytex Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company will be held on December 07, 2011 inter alia, have accorded to the following:
1. To issue, offer and allot upto 67,30,005 (Sixty Seven Lac Thirty Thousand Five only) Equity Shares of Rs. 10/- each fully paid at a minimum price of Rs. 110/- (Rupee one hundred ten only) per Share including premium (Rs. 10/- face value and Rs. 100/- premium) (the 'Issue Price') which is not less than the minimum price as determined in accordance with SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2009 as amended upto date on the Relevant Date being 30 days prior to the date of the meeting of the Equity Shareholders at which the proposed issue of Equity Shares is to be considered, to the following Financial investors belonging to the Non Promoter Group, on preferential basis, as the Board may in its absolute discretion decides, in one or more tranche or tranches, on such terms and conditions as may be decided and deemed appropriate by the 'Board' at the time of issue or allotment:
Name of Proposed allottees : Davos International Fund
No. of Shares : 22,43,335
Name of Proposed allottees : Passage to India Master Fund Ltd : 22,43,335
No. of Shares : 22,43,335
Name of Proposed allottees : Plutus Terra India Fund
No. of Shares : 22,43,335
2. To offer, issue and allot in one or more foreign markets or domestic markets, equity shares and/or instruments convertible into or linked to equity shares, optionally or otherwise, including but not limited to Global Depository Receipts ('GDR's) / American Depository Receipts (Currency Convertible Bonds (FCCB's) or any combination thereof (‘Securities’) for an aggregate sum upto Rs. 300/- crores (Rupees Three Hundred crores only), in Indian Currency and/or any other currency(ies) Inclusive of such premium, with or without green shoe option and/or underwriting option as may be decided by the Board, to Indian/Foreign/Resident/Nonresident Investors (whether Institutions, Corporate Bodies, Mutual Funds/Trusts/Foreign Institutional Investors.’ Banks and/or Individuals, or otherwise end whether or not such investors are Members, Promoters. Directors or their relatives/associates, of the Company) through Public Issue(s), Private Placement(s), or any other permitted mode or combination thereof or through Qualified Institutional Placement (QIP) in terms of various laws, guidelines and regulations Including SEBI (ICDR) Regulations, if applicable, and to such categories of investors and in such tranche or trenches, at such price or prices whether at a discount or premium to market price or prices in such manner and on such terms and conditions as the Board may in its discretion decide in consultation with the Book Runner(s) / Lead Manager(s), Underwriter(s), Advisor(s) to the Issue, so as to enable the Company to get the Securities listed at any Stock Exchanges in India and/or any other Overseas Stock Exchanges.
3. To increase the Authorised Share Capital of the Company from the present 50,00,00,000/- (Rupees Fifty Crores only) divided into 5,00,00,000 (Five Crores) Equity Shares of Rs. 10/- (Rupees Ten only) each to Rs. 70,00,00,000/- (Rupees Seventy Crores only) divided into 7,00,00,000 (Seven Crores) Equity Shares of Rs.10/- (Rupees Ten only) each, and consequential amendment in the Memorandum of Association of the Company.
4. To borrow from time, at its discretion either from the Company’s Bank or any other bank, financial institution or any other lending institutions or Bodies Corporate(s) or such other persons as may be considered suitable by the Board of Directors for the purpose of Company’s business any sum or sums of money as it may deem proper notwithstanding that the moneys to be borrowed together with moneys already borrowed by the Company, if any, (apart from temporary loans obtained from the Company’s bankers in the ordinary course of business) may exceed the aggregate for the time being of the paid up capital of the Company and its free reserves, if any, that is to say, reserves not set apart for any specific purpose provided that the total amount of moneys to be borrowed together with moneys already borrowed (apart from temporary loans obtained from the Company’s bankers in the ordinary course of business) shall not exceed Rs. 1000 crores (Rupees One Thousand crores only) outstanding at any one time and that for the implementation of this resolution the Board of Directors may act through any member thereof or any other person duly authorized by the Board of Directors in that behalf. |
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