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| Exchange Disseminated Time | Tirupati Foam Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 27, 2007, inter alia, have accorded to the following:
1. Increase in the Authorised Share Capital of the Company from Rs 4,00,00,000/- divided into 40,00,000 equity shares of Rs 10/- each to Rs 4,60,00,000/- divided into 46,00,000 equity shares of Rs 10/- each and consequential amendments in the Memorandum of Association of the Company.
2. Alteration in the Articles of Association of the Company by adding Article 3(i) after Article 3:
"Article 3(i) : Subject to the applicable provisions, the Company shall have the power to issue, offer and allot Equity Warrants on such terms and conditions as may be deemed fit by the Board of Directors."
3. Authority to the Board to issue, offer and allot upto 11,00,000 convertible warrants (warrants), each warrant convertible at the option of Warrant holder in one or more tranches, within 18 months from its allotment date into 1 fully paid up equity share of the Company of face value of Rs 10/- each at an exercise price including premium Rs 26/- per warrant and the issue of fresh equity shares on the conversion of the warrants, on such further terms and conditions as may be finalized by the Board of Directors to a non promoter, subject to necessary terms and conditions.
4. Amendments and Alteration in the Object Clause of the Memorandum of Association of the Company in inclusion of the following object clause as 2 in the Main Objects Clause III(A) of the Memorandum of Association of the Company:
"To carry on in India or elsewhere the business to manufacture, process, treat, wash, cut, turn to account, commercialize, season, design, develop, fabricate, finish, manipulate, protect, and to act as agent, broker, contractor, supplier, importer, exporter, buyer, seller, warehouses, stockist, distributor, vendor, jobworker, forester or otherwise to deal in all shapes, sizes, forms, varieties, specifications, descriptions, dimensions of hipressure laminates, laminated sheets and laminate products including laminate logs, billets, twigs, fagots, slices, laminate paving boxes, railway or tramway sleepers, laminate in chips or particles; golf club shafts, drawn wood, laminate flour, laminate tiles, laminate blocks, laminate sheets for plywood, blackboard, liminboard, bathenboard, and similar laminated wood products, reconstituted laminate, laminate frames, laminate doors, windows & similar fittings, laminate hardware articles; laminate bodies, laminate cigarette boxes, trays, ornaments and other fancy articles, etc. and other allied items, there parts, fittings and accessories." |
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