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| Exchange Disseminated Time | With reference to earlier announcement dated September 17, 2014 regarding Outcome of Board Meeting (EGM on Oct 20, 2014) Shakti Pumps India Ltd has now informed BSE that there is some typographic error; in Point No. 3 i.e. Fifty Lakhs read as Fifteen Lakhs so the following word has been changed for the Outcome of Board Meeting held on September 17, 2014.
The Meeting of Board of Directors of the Company has held on September 17, 2014, inter alia, has taken the following decisions:
1. Increase the Authorised Share Capital of the Company from Rs. 25,00,00,000/- (Rupees Twenty Five Crores only) to Rs. 40,00,00,000 (Rupees Forty Cores Only) which consist of Rs. 25,00,00,000/- (Rupees Twenty Five Crores only) divided into 2,50,00,000 (Two Crores Fifty Lakhs) Equity Shares of Rs.10/- (Rupees Ten only) each and Rs.15,00,00,000/- (Rupees Fifteen Crores only) divided into 15,00,000 (Fifteen Lakhs) Compulsory Convertible Preference Shares of Rs.100/- (Rupees Hundred Only) each.
2. Conversion of 7,50,000 (Seven Lakhs Fifty Thousand) warrants of Rs.80/- each into 7,50,000 (Seven Lakhs Fifty Thousand) Equity Shares of Rs. 10/- each at a premium of Rs.70/- each and allotment of Equity Shares to Mr. Ankit Patidar, Promoter and Promoter Group-Directors Relatives.
3. Issuance of 15,00,000 (Fifteen Lakhs) 15 % Compulsory Convertible Preference Shares (“CCPS”) at a Nominal Value of Rs. 100/- each at a premium of Rs.200/- each aggregating to Rs. 45,00,00,000/- (Rupees Forty Five Crores) and convertible into 16,36,363 (Sixteen Lakhs Thirty Six Thousand Three Hundred and Sixty Three Only) Equity Shares of Rs.10/- (Rupees Ten only) each at a premium of Rs. 265/- (Rupees Two Hundred Sixty Five Only) each of the Company at a conversion ratio of 1:1.0909 to AFHoldings, a Company incorporated under the laws of Mauritius - (the : "Investor").
4. To call for an Extra-Ordinary General Meeting of shareholders in above mattes. The date, time and Venue of which is as follows:
- Date: October 20, 2014
- Time: 11.00 A.M.
- Venue: Registered Office of the Company at Plot No. 401, 402 & 413, Industrial Area, Sector-III, Pithampur - 454774, Dist.: Dhar (MP) |
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