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| Exchange Disseminated Time | Swan Energy Ltd has informed BSE that the Board of Directors of the Company, at its meeting held on July 13, 2013, have accorded its consent to the allotment of equity shares of the company on a preferential basis to the promoter and non-promoter companies, subject to approval of the shareholders.
In continuation to above, the Company has now informed that, the Board of Directors of the Company, at its meeting held on July 31, 2013 have, inter alia, accorded their consent to the following:
1. Postal Ballot Notice to seek the approval of the members of the Company for issue of upto 1,55,90,000 Equity Shares of the Company of Rs. 2/- each at a premium of Rs. 148/- per share to Promoters and Non Promoters companies on account of conversion of its advances upto Rs. 233.85 crores.
2. Appointment of Mr. Jignesh M. Pandya, Practicing Company Secretary, as the Scrutinizer for conducting the Postal Ballot in a fair and transparent manner as per the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001. |
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