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| Exchange Disseminated Time | Jumbo Bag Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 03, 2007, has taken the following decision subject to the approval of the shareholders and other authorities concerned:
1. Approval for increasing the Authorised Capital from the existing Rs 15,00,00,000/- to Rs 20,00,00,000/—.
2. Approval for Altering the Capital Clause of the Memorandum and Articles of Association of the Company.
3. To issue 32,00,000 Warrants convertible into Equity Shares within 18 months of allotment to Promoters and other persons acting in concert (PAC) and other prospective investors on Preferential Basis subject to the approval of the shareholders.
4. The price is fixed Rs 20/- per warrant as pet 13-1-A of SEBI (DIP) Guidelines 2000. Each warrant will be convertible into one Equity Share of Rs 10/- at a premium of Rs 10/- per share.
The "Relevant Date" for the purpose of Preferential Issue is fixed as October 03, 2007.
The Date of Extraordinary General Meeting of the shareholders for the purpose of obtaining their approval for the above mentioned subjects is fixed as November 02, 2007. |
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