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| Exchange Disseminated Time | Jindal Worldwide Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 16, 2007, inter alia, have accorded to the following:
1. Members have given Authority to the Board of Director of the Company to make issue of ordinary Shares, debentures or bonds whether partly / optionally / fully Convertible and / or Securities linked to Ordinary Shares including but not limited to Foreign Currency Convertible Bonds convertible into Equity Shares at the option of the Company and / or the holder of such securities or securities through the QIB route (Securities), such that total amount raised through the aforesaid Securities should not exceed US $ 20 million (inclusive of such premium as may be determined).
2. Members have approved alteration in the Memorandum of Association of the Company to change the Object Clause of the Company by insertion of objects under "Other Objects" of the Memorandum of Association of the Company to diversify into the field of Infrastructure.
3. Members of the Company have consented to enter into the Infrastructure Business as per changed object clause.
4. Members have approved proposal of Inter Corporate Investment u/s 372(A) of the Companies Act, 1956.
5. Shareholders have given consent to the Board of Directors for borrowing pursuant to Section 293(1)(d) of the Companies Act, 1956 up-to Rs 750 Crores. |
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