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| Exchange Disseminated Time | Diamond Power Infrastructure Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 24, 2013, inter alia, has decided the following:
1. To increase the Authorised Shares Capital of the Company from existing Rs. 50,00,00,000/- (Rupees Fifty crores only) to Rs. 60,00,00,000/- (Rupees Sixty Crores only).
2. Due to increase in Authorised Share Capital to alter the Memorandum and Articles of Association of the Company accordingly.
3. the Board of Directors of the Company approved, subject to the approval of the Shareholders, issuance of 18,50,000 Equity Shares of the Company of a face value of Rs. 10 each aggregating to Rs. 22.29 Crores, representing approximately 4.99% of the pre issue paid up equity share capital of the Company to MadhuriFinservesPvt. Ltd (formerly known as Diamond Tele-Cabs Pvt. Ltd.) and Diamond Project Ltd. (Diamond Project Pvt. Ltd.), Promoters Group, on a preferential allotment basis at a price which shall be Rs. 120 per equity share or such higher price determined in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 ("ICDR Regulations").
4. the Board of Directors of the Company approved, subject to the approval of the Shareholders, issuance of 43,92,000 Equity Warrants, convertible in to shares within 18 Months to 6 Strategic Investors, on a preferential a basis at a price which shall be Rs. 120 per equity warrants aggregating to Rs. 52.70 Crores or such higher price determined in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 ("ICDR Regulations").
5. To allot, subject to the approval of the Shareholders of the Company in their ensuing Annual General Meeting Non-Convertible Redeemable Preference Shares aggregating to Rs. 75 Crores redeemable after 10 years to the promoters
of the Company on preferential basis.
6. Recommended, inter alia, Dividend of Rs. 1 (One Rupee) per equity share of Rs. 10/- each (@ 10%) for the financial year 2012-13, subject to approval of the shareholders in the ensuing Annual General Meeting.
7. Accepted Resignation of Dr. Vasantha Bharucha, Independent Director on completion of her Term. |
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