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| Exchange Disseminated Time | Salora International Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 14, 2008, inter alia, have accorded the following:
1. Authority to the Board to create, offer, issue and allot in one or more tranch(es), in the course of domestic or international offerings or qualified institutional placements, with or without an over allotment / green issue option, in one or more foreign markets or domestic markets, to domestic institutions, foreign institutions, non-resident Indians, Indian public Companies, corporate bodies, mutual funds, banks, insurance companie5, pension funds, individuals, qualified institutional buyers or other persons or entities, whether shareholders of the Company or not, through a public issue and / or on a private placement basis and / or qualified institutional placement within the meaning of Chapter XIII-A of the SEBI Guidelines and / or kind of public issue and / or private placement, with or without an over allotment / green shoe option, equity shares, secured or unsecured debentures, bonds or any other securities whether convertible into equity shares or not, including, but not limited to, Mandatory Convertible Debentures ("MCDS"), Foreign Currency Convertible Bonds ("FCCB"), Partly Convertible Debentures ("PCD"), Optionally Convertible Debentures("OCD"), Fully Convertible Debentures ("ECDs") Bonds with share warrants attached, Global Depository Receipts ("GDRs"), American Depository Receipts ("ADRs") or any other equity related instrument of the Company or a combination of the foregoing including but not limited to a combination of equity shares with Bonds and / or any other securities whether convertible into equity shares or not ("securities"), whether secured or unsecured, to be listed on any stock exchange inside India or international stock exchange outside India, through an offer document and / or prospectus and / or offer letter, and / or offering circular, and / or on public and / or private or preferential basis, whether rupee-denominated or denominated in foreign currency, provided that the total amount of funds to be raised including share premium shall not exceed Rs 50.00 crore, subject to necessary provisions & approvals.
2. Authority to the Board of Directors of the Company for borrowing from time to time any sum or sums of monies which together with the monies already borrowed by the Company (apart from temporary loans obtained or to be obtained from the Company’s bankers in the ordinary course of business) may exceed the aggregate of the paid-up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose, provided that the total amount so borrowed by the Board shall not at any time exceed the limit of Rs 200.00 crores, subject to necessary provisions & approvals. |
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