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| Exchange Disseminated Time | Sanwaria Agro Oils Ltd has informed BSE that the members at the 19th Annual General Meeting (AGM) of the Company held on September 30, 2010, inter alia, has approved the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2010 and Profit & Loss Account of the Company for the period ended on March 31, 2010, together with the Directors Report and Auditors Reports thereon.
2. Declaration of final dividend 20% i.e. Rs 0.20 per share to the Equity Shareholders of the company for the F.Y. 2009-10.
3. Re-appointment of Shri.Hari Kishan Agrawal, Shri. Surendra Kumar Jain & Shri. Hans Kumar Mehta as Directors of the Company, liable to retire by rotation.
4. Appointment of M/s. Sunil Saraf & Associates, Chartered Accountants, as Auditors of the Company to hold the office from the conclusion of this meeting until the conclusion of the next Annual General Meeting of the Company on remuneration, terms & conditions.
5. Authority to the Board to borrow money from time to time for the purpose of the Company’s Business up to a limit not exceeding in the aggregate Rs. 1500.00 Crores (Rupees One Thousand and Five Hundred Crores only) notwithstanding that the moneys to be so borrowed to with moneys already borrowed by the Company, if any (apart from temporary loans obtained from Company’s bankers in the ordinary course of the business) may exceed the aggregate, for the time being, of the paid up capital of the company and its free reserves, if any, that is to say, reserves not set apart for any specific purpose, subject to necessary provisions & approvals.
6. Authority to the Board to create, issue, offer and allot equity shares for an amount not exceeding Rs. 200 crores to be raised in one or more trenches by way of private placement of equity shares including allotment to Qualified Institutional Buyers (QIBs) through Qualified Institutional Placement (QIP) in terms of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2009 (ICDR Regulations) or through public issue, rights issue and/or private offerings in and to be listed on domestic and/or one or more international market(s), whether by way of direct issue of equity shares or through depository receipts, whether Global Depository Receipts or American Depository Receipt or Foreign Currency Convertible Bonds (FCCBs) and/or any instrument or securities convertible into equity shares at the option of the holder(s), whether or not such investors are existing shareholders of the Company at such price or prices, at market price(s) or at a discount or at a premium to market price(s) in such manner and where necessary in consultation with the Book Running Lead Manager(s) and /or underwriters and/or other advisors or otherwise on such terms and conditions as the Board may, in their absolute discretion, decide at the time of the issue subject to necessary provisions & approvals.
7. Authority to the Board to enhance / modernize the existing Soya seed crushing capacity from 3250 TPD to 5000 TPD and refining capacity from 350 TPD to 1000 TPD, Vanaspati (Ghee) Plant to 50 TPD and Refinery for Imported Vegetable Oil by 150 TPD by 2010. The expansion includes setting up of manufacturing facility of value added products i.e. Soya Flour, Soya Protein Concentrate Soya Protein Isolates, Soya Powder/Granules, Soya Lecithin Liquid, Soya Lecithin Granules, Soya Phytosterol, Soya Mix Tocopherol, Organic Soyabean Meal, Organic Soya OH, TV. P / Chunks / Nuggets, Soya Milk, Soya Tofu etc. by set up of new plants at the existing locations or acquisitions of plants at surrounding, subject to necessary provisions & approvals. |
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