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| Exchange Disseminated Time | Vimta Labs Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 18, 2006, inter alia, have accorded to the following :
1. Authority to the Board to offer, issue and allot on a preferential basis to:
a. The India Fund Inc., C/o The Black Stone Group, New York - 233079 equity shares of Rs 10/- each at a price of Rs 950/- per equity share (equivalent to 1165395 equity shares of Rs 2 each on sub-division of shares, at a price of Rs 190/- per equity share).
b. Voyager Fund Mauritius Ltd, Mauritius - 233079 equity shares of Rs 10/- each at a price of Rs 950/- per equity share (equivalent to 1165395 equity shares of Rs 2 each on subdivision of shares, at a price of Rs 190/- per equity share).
c. Minivet Ltd, Mauritius - 93231 equity shares of Rs 10/- each at a price of Rs 950/- per equity share (equivalent to 466155 equity shares of Rs 2 each on sub-division of shares, at a price of Rs 190/- per equity share).
d. M/s Franklin Templeton Asset Management (India) Pvt Ltd - Franklin India Smaller Companies Fund, Chennai, India - 177362 equity shares of Rs 10/- each at a price of Rs 950/- per equity share (equivalent to 886810 equity shares of Rs 2 each on sub-division of shares, at a price of Rs 190/- per equity share).
e. M/s Franklin Templeton Asset Management (India) Pvt Ltd - Franklin India Prima Fund, Chennai India - 88681 equity shares of Rs 10/- each at a price of Rs 950/- per equity share (equivalent to 443405 equity shares of Rs 2 each on sub-division of shares, at a price of Rs 190/- per equity share).
aggregating to 825432 Equity Shares of Rs 10/- each at a price of Rs 950/- (equivalent to 4127160 Equity Shares, at a price of Rs 190/- per equity share, on sub-division of each equity share of the Company of the face value of Rs 10/- each into 5 equity shares of the face value of Rs 2/- each) amounting to Rs 784160400/- as a first tranche out of the total proposal of Rs 1250 million approved by the Members of the Company in their Extra Ordinary Meeting held on February 04, 2006, subject to necessary approvals & provisions.
2. Authority to the Board to increase the limit of investment by Foreign Institutional Investors ("FIIs") including their sub accounts registered with SEBI in the equity shares of the Company, either by direct purchase or acquisition from the open market under the Portfolio Investment Scheme under FEMA, from 24% to 49% of the paid-up Equity Share Capital of the Company, subject to necessary approvals & provisions. |
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