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| Exchange Disseminated Time | Dhanlaxmi Bank Ltd has informed BSE that the members of the bank will consider to approve by way of Postal Ballot the following Resolutions:
1.To increase the Authorised Share Capital of the Bank from Rs.100,00,00,000 [Hundred Crores] consisting of 10,00,00,000 [Ten Crores] equity shares of Rs.10/- each to Rs.200,00,00,000 [Two Hundred Crores consisting of 20,00,00,000 [Two Hundred Crores] equity shares of Rs.10/- each by creation of additional 10,00,00,000 [Ten Crores] equity shares of Rs. 10/- each ranking pari passu with the existing equity shares of the Bank in all respects when issued & consequential amendment in the Memorandum & Articles of Association of the Company.
2. Pursuance of Section 94(1)(e) of the Companies Act 1956 read in conjunction with Article No.29(c) of the Articles of Association of the Bank, 32,58,900 [Thirty Two Lakhs Fifty Eight Thousand Nine Hundred] Equity Shares out of the issued capital of the Bank, being shares neither taken nor agreed to be taken by any one, be and are hereby cancelled.
3. Authority to the Board to issue, offer and allot, from time to time, in one or more tranches, for the issue of not exceeding 5.50 Crore Equity Shares of Rs. 101- each to Qualified Institutional Buyers (QIBs), Foreign Institutional Investors (FIls), Foreign Corporate Bodies (FCB5) / Companies / Mutual Funds / Pension Funds / Venture Capital Funds / Banks / Insurance Companies and other institutions, companies and corporations, whether Indian or foreign and such other persons or entities, whether or not such investors are existing members of the Bank or otherwise by a further issue of Equity Shares by a private placement and / or by Qualified Institutional Placement (QIP) of Equity Shares and / or securities convertible into Equity Shares and / or Global Depository Receipts (GDRs) / American Depository Receipts (ADRs) and / or the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (through Depository Receipt Mechanism) Scheme, 1993 ("Securities") on such terms and conditions as to price and other conditions as the Board or Committee of Directors constituted by the Board of Directors specifically for the purpose of organizing, overseeing, supervising and implementing the proposed further issue and to take care of all other concerned matters, subject to necessary provisions & approvals.
The Board of Directors has appointed Dr. K S Ravichandran, Managing Director 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 not later than the close of working hours on May 10, 2011. Upon completion of scrutiny of the Postal Ballot Forms, the Scrutinizer will submit his report to the Chairman. The result of the Postal Ballot will be formally announced by the Chairman of the Bank as soon as report is furnished by the Scrutinizer at the registered office of the Bank at Dhanlaxmi Buildings, Naickanal, Thrissur - 680001. |
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