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| Exchange Disseminated Time | Aplab Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 19, 2012 inter alia, has proposed following:
1. Appointment of Mrs. Amrita P. Deodhar and Mr. Mukund Galgali as Additional Directors;
2. To Amend of Articles of Association of the Company for conducting of Postal Ballot;
3. To Amend of Articles of Association of the Company for issuing Equity Shares, Convertible Warrants and other instruments to Promoter / Promoter Group on a Preferential basis.
4. To increase Authorised capital from Rs. 7,00,00,000/- (Rupees Seven Crores only) divided into 70,00,000 equity shares of Rs. 10 each to Rs. 10,00,00,000/- (Rupees Ten crores only) divided into 1,00,00,000 equity shares of Rs. 10 each;
5. To issue the following securities on preferential basis under Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009;
i. Upto 6,55,000 (Six Lacs Fifty Five Thousand) Equity Shares of Rs. 10 each to Promoters / Promoter Group
ii. Upto 20,15,000 (Twenty Lac Fifteen Thousand) Warrants of Rs. 10 each to the Promoters / Promoter Group of Company. The Warrant holder/s will have option to convert the Warrants into Equity Shares at any time within a period of 18 months from the date of allotment of the Warrants, in accordance with the provisions of SEBI ICDR Regulations.
The aforesaid issue of Equity Shares/ Warrants is subject to the approval of members under the provisions of Sections 81(1A) of the Companies Act, 1956 and will be in terms of Chapter VII (Preferential Issue) of Securities and Exchange Board of India (Issue of Capital and disclosure Requirements) Regulations, 2009 and other applicable Rules / Regulations / Guidelines of Securities and Exchange Board of India and other regulator/ authorities.
The securities will be issue at a price as per regulation 76 Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. The relevant date for determination or the applicable price of equity shares and warrants is January 22, 2012, i.e. the date being 30 days prior to the date on which the meeting of the general body of the shareholders is scheduled to be held. |
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