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| Exchange Disseminated Time | Marksans Pharma Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the following resolutions:
1. Authority to the Board of Directors ("the Board") of the Company to sell, lease or otherwise dispose of the Company's Active Pharmaceutical Ingredient plants located at Plot No. A88 & D10, Kurkumbh, MIDC, Pune (API Plants) to any suitable party / parties at such consideration and with effect from such date as the Board may deem appropriate in the best interest of the Company, subject to necessary provisions and approvals.
2. To create, issue, offer and allot (including with provision for reservation on firm and / or on competitive basis, of such part of issue and for such categories or persons as may be permitted), in the course of one or more public and / or private offerings in domestic and / or in one or more international market(s), Equity Shares and / or Equity Shares through depository receipts and / or Foreign Currency Convertible Bonds (FCCBs) or any other convertible bonds and /or other securities, convertible either wholly or partly, into Equity Shares at the option of the Company and / or the holder(s) of such securities, and / or securities linked to Equity Shares and / or securities, with or without detachable / non-detachable warrants, with a right exercisable by the warrant holder to subscribe for the Equity Shares and / or warrants, with an option exercisable by the warrant-holder to subscribe for Equity Shares and / or any instruments or securities representing either Equity Shares and / or convertible securities linked to Equity Shares (all of which are hereinafter collectively referred to as 'securities'), to eligible investors, including residents and / or non-residents and / or institutions / banks and / or incorporated bodies, and / or individuals and / or trustees and / or stabilizing agents or otherwise, and whether or not such investors are members of the Company, through one or more prospectus and / or letter of offer or circular on private / preferential placement basis, for or which upon exercise or conversion of all securities so issued and allotted could give rise to the issue of an aggregate face value of Equity Shares, not exceeding USD 125 million such issue and allotment to be made at such time or times, in one or more trenches, at such price or prices, at market price(s) or at discount or premium to market prices(s), including, at the Board's discretion, at different price(s) to investors (whether institutions, incorporated bodies, mutual funds and / or individuals or otherwise and whether or not such investors are existing members, promoters, directors or their associates Company)", in such manner, including allotment to Stabilizing Agent in terms of Green Shoe Option, if any, exercised by the Company, and where necessary, in consultation with the Book Running Lead Managers and / or Underwriters and / or Stabilizing Agent and / or other advisors or otherwise on such terms and conditions, including issue of securities as fully paid or partly paid, making of calls or manner or appropriation of application money or call money, in respect of different classes of investor(s) and / or in respect of different securities, as the Board may, in its absolute discretion, decide at the time of issue of the securities, with authority to retain over subscription up to such percentage as may be permitted by the "Appropriate Authorities" and so as to enable the Company to get listed at the Overseas Stock Exchanges such as Singapore, Luxembourg, London, Nasdaq and / or New York Stock Exchange and/or any of the other Overseas Stock Exchanges.
The Company has appointed Mr. Ashish Kumar Jain of M/s. A.K. Jain & Co., Practicing Company Secretaries as Scrutinizer for the purpose of Postal Ballot exercise.
The Postal Ballot form duly completed should reach the scrutinizer on or before February 01, 2010. The scrutinizer will submit his report to the Board of Directors of the Company after completion of the scrutiny and the results of the postal ballot will be announced by the Chairman on February 02, 2010. |
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