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| Exchange Disseminated Time | Mawana Sugars Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the Special Resolution relating to create, offer, issue and allot, from time to time in one or more tranches, Equity Shares to be subscribed by the Promoters, whether or not such Promoters are Members of the Company, under a preferential issue through an offer letter and / or circular and / or information memorandum and / or such other documents / writings, in such a manner and on such terms and conditions as may be determined by the Board in its absolute discretion: provided that the price of the Equity Shares so issued shall not be less than Rs 36.50 (including a premium of Rs 26.50) per Equity Share of Rs 10/- each being the price with respect to the Relevant Date i.e. November 14, 2008, as prescribed under the Guidelines for Preferential Issues contained in Chapter XIII of the Securities and Exchange Board of tndia (Disclosure and Investor Protection) Guidelines, 2000 and further provided that the aggregate amount of the Equity so issued including premium shall not exceed Rs 16 crores (Rupees Sixteen crores only), subject to necessary provisions & approvals.
The Committe of Directors has appointed Ms. Mamta Jain, a Practicing Company Secretary 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 on or before normal working hours on August 27, 2009. The scrutinizer will submit his report to the Chairman after completion of the scrutiny and the results of the postal ballot will be announced by the Chairman on August 31, 2009. |
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