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| Exchange Disseminated Time | Alps Industries Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 26, 2008, inter alia, have also accorded to the following:
1. Authority to the Board to create, offer, issue and allot Equity Shares, whether convertible with or without detachable or non-detachable warrants convertible into equity at a later date on a price as determined un the law and / or any securities convertible into Equity Shares (whether optionally or otherwise) and / or Securities linked to Equity Shares fully / partly convertible debentures, Global Depository Receipts (GDRs), Indian Depository Receipts (IDRs), American Depository Receipts (ADRs), or any other securities as may be permitted to be issued under law for the time being in force or any amendments thereto from time to time (“Securities”), either by way of a Public Issue or a Rights Issue or any combination thereof for cash, as may be decided by the Board up to an aggregate amount not exceeding Rs 100.00 Crores (Rupees Hundred Crores Only) (Inclusive of such premium, as may be fixed on such Securities) to all or any one or more combinations of members / shareholders, promoters, directors, Financial Institutions Banks, Indian Mutual Funds, Foreign Institutional investors whether registered with SEBI or not (including Non-resident Indians, Foreign Nationals, Overseas Corporate Bodies, Custodian of Overseas Investors by way of GDRs / ADRs), permanent employees and / or workers of the Company (including Indian working directors), Indian Public and / or any other categories of persons, institutions, authorities or sections or otherwise, whether or not such investors are members of the Company, or any body mandatory under the law, through a prospectus and / or Letter of Offer, at such time or times at such price or prices and in such manner and in such number as deemed fit by the Board and on such terms and conditions including as to mode of payment, security, rate of interest, date of entitlement of rights of shares, payment of dividend, conversion and other matters, rights and privileges as may be decided by the Board in its absolute discretion and in the best interest of the Company at the time of such offer, issue or allotment, subject to necessary provisions & approval.
2. Alternation in the Clause V of the Memorandum of Association of the Company as under:
V: The authorized share capital of the Company is Rs 60,00,00,000/- (Rupees Sixty Crores) which will be divided into 6,00,00,000 (Six Crores) Equity Shares of Rs 10/- (Rupees Ten) each, with power to increase, reduce or divide the Capital for the time being into several classes and to attach there to respectively such preferential, priority, deferred, qualified or special rights, privileges, security, conditions or restrictions, whether in regard to dividend, voting, return on Capital, distribution of assets or otherwise as may be determined in accordance with the provisions of the Act, and Rules and Regulations made thereunder, and to vary, modify or abrogate any such rights, privileges, conditions or restrictions in such manner as may from time to time be provided under the provisions of the Act and Rules and Regulations made thereunder of the Company and consolidated or subdivide or reconganize shares or issue of shares of higher or lower denominations on terms & conditions as may be decided by the Directors, Subject to necessary provisions & approvals. |
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