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| Exchange Disseminated Time | Vaswani Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 6, 2013, inter alia has decided to issue 1299500 equity shares of face value of Rs.10/- at a price as per Regulation 76 of ICDR Guidelines will be at a price not less than the higher of the following:
1. The average of the weekly high and low of the closing prices of the related shares quoted on the stock exchange during the six months preceding the relevant date; or
2. The average of the weekly high and low of the closing prices of the related shares quoted on a stock exchange during the two weeks preceding the relevant date;
3. At par value of equity shares, i.e. Rs.10/-per equity share.
to Promoters on preferential allotment basis, being 5% of the post issue equity share capital of the company subject to the approval of the members of the company in General Meeting by way of special resolution as required to be passed under the provisions of the Companies Act, 1956 as well as such other provisions of SEBI (Disclosure and Investor Protection) Guidelines and such other approvals, consent, sanction etc. as may be required for this purpose.
An Extra Ordinary General Meeting of the shareholders of the company will be convened on March 04, 2013, for this purpose |
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