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| Exchange Disseminated Time | Onward Technologies Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of members of the Company will be held on March 07, 2008, inter alia, for issue and allotment of the equity shares of the Company to M/s. Onward Computer Technblogies Pvt Ltd, a Promoter group company, on preferential basis on the terms as contained herein below -
The Board of Directors may offer, issue and allot not exceeding 5,00,000 equity shares of Rs 10/- each at a price of Rs 40/- per share or such higher price as may be determined by the Auditors of the Company as per the guidelines issued by SEBI, for the issue of the shares on preferential basis.
The issue and allotment of equity shares is for cash.
The equity shares shall rank pari passu with the existing issued and paid up equity shares of the Company in all respects.
The issue and allotment of thee equity shares shall be subject to compliance of the Disclosure and Investor Protection Guidelines (DIP) Guidelines issued by SEBI as amended as of the date of passing of this resolution.
In terms of the said SEBI (DIP) Guidelines the relevant date for the calculation of price of the equity shares shall be February 05, 2008. |
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