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| Exchange Disseminated Time | Cinevistaas Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 25, 2007, inter alia, has decided the following:
A. In accordance with the provisions of section 81(1A) and all other applicable provisions, if any, of the Companies Act, 1956 and guidelines issued by the Securities and Exchange Board of India ("SEBI") and other concerned authorities, in this regard, the Board has decided to create, offer, issue and allot upto 18,66,500 warrants convertible into 18,66,500 equity shares of the face value of Rs 10 each at a conversion price of Rs 23.50/- per equity share of the Company, to the following:
Promoters:
1. Dr. Vishnu Mehta - upto 8278 warrants convertible into 8278 equity shares of the Company.
2. Mr. Vijay Singh Phoolka - upto 129537 warrants convertible into 129537 equity shares of the Company.
3. Mr. Uday Singh Phoolka - upto 192555 warrants convertible into 192555 equity shares of the Company.
4. Mr. Sunil Mehta - upto 279788 warrants convertible into 279788 equity shares of the Company.
5. Mr. Prem Krishen Malhotra - upto 315252 warrants convertible into 315252 equity shares of the Company.
6. Mrs. Pamma Mehta - upto 320478 warrants convertible into 320478 equity shares of the Company.
7. Cinevistaas Communications Employees Welfare Trust - upto 18292 warrants convertible into 18292 equity shares of the Company.
Public:
8. Mr. Arun Mahajan - upto 165450 warrants convertible into 165450 equity shares of the Company.
9. Mr. Rupinder Kaur - upto 125000 warrants convertible into 125000 equity shares of the Company.
10. Mr. Amarinder Singh - upto 125000 warrants convertible into 125000 equity shares of the Company.
11. Ms. Natasha Shroff - upto 125000 warrants convertible into 125000 equity shares of the Company.
12. Mr. K B Nair - upto 61870 warrants convertible into 61870 equity shares of the Company.
on preferential allotment basis, where 10% of the exercise price shall become payable on allotment.
B. For giving effect to the above, the Board resolved to fix the day, date & time of the EGM for according members approval for the same:
It was resolved that the Extraordinary General Meeting of the members shall be held on May 21, 2007. |
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