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| Exchange Disseminated Time | Jumbo Bag Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 02, 2007, inter alia, have accorded to the following:
1. Authority to Board to increase the Authorised Capital of the Company from Rs 15,00,00,000/- (Rupees Fifteen Crores only) divided into 90,00,000 Equity Shares of Rs 10/- each aggregating to Rs 9,00,00,000/- and 6,00,000 Redeemable Cumulative Preference Shares of Rs 100/- each aggregating to Rs 6,00,00,000/- to Rs 20,00,00,000/- (Rupees Twenty Crores) divided into 1,40,00,000 Equity Shares of Rs 10/- each aggregating to Rs 14,00,00,000/- and 6,00,000 Redeemable Cumulative Preference Shares of Rs 100/- each aggregating to Rs 6,00,00,000/- & consequential amendments in the Memorandum & Articles of Association of the Company.
2. Authority to Board to issue and allot 32,00,000 warrants at Rs 20 per warrant convertible into equity shares of Rs 10/- each at a premium of Rs 10/- within 18 months from the date of allotment of the promoters and other prospective investors on a preferential basis. |
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