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| Exchange Disseminated Time | SEL Manufacturing Company Ltd has informed BSE that the members at the 9th Annual General Meeting (AGM) of the Company held on August 26, 2009, inter alia, have also accorded to the following:
1. Increase the existing Authorised Share Capital of the Company from Rs 50,00,00,000 (Rupees Fifty Crores only) divided into 5,00,00,000 (Five Crore) Equity Shares of
Rs 10/- (Rs Ten) each to Rs 75,00,00,000/- (Rs Seventy Five Crore) only divided into 7,50,00,000 (Seven Crore Fifty Lakh) Equity Shares of Rs 10/- (Rs Ten) each by creation of further 2,50,00,000 (Two Crore Fifty Lakh) Equity shares of Rs 10 (Rs Ten) each aggregating Rs 25,00,00,000/- (Rs Twenty Five Crore) ranking pari passu with the existing equity shares of the Company in all respects & consequential amendment in the Memorandum of Association of the Company.
2. Authority to the Board to create, offer, issue and allot, in the course of, domestic and / or international offering(s) in one or more foreign markets, any securities including Global Depositary Receipts (GDRs) and / or American Depositary Receipts (ADRs) convertible into equity shares, Foreign Currency Convertible Bonds (FCCBs), with or without green shoe option, or any instrument or securities representing convertible securities such as convertible debentures, bonds or warrants etc. convertible into equity shares, whether optionally or otherwise or any combination thereof (‘Securities’) to such investors including institutions, financial institutions and / or corporate bodies, mutual funds, banks, insurance companies, foreign institutional investors, trusts and / or individuals or otherwise, whether or not such persons / entities / investors are members of the Company, as the Board may, in its sole discretion deem appropriate, by way of circulation of an offering circular or prospectus or by way of private placement] Institutional placement, memorandum or any offering memorandum or a combination thereof, upto an aggregate amount not exceeding Rs 300.00 Crores (Rs. Three Hundred Crores) Only (inclusive of such premium as may be determined by the Board and as permitted by the prescribed authorities etc.) to be subscribed in Indian and / or foreign currency(ies). Such issue and allotment shall be made at such time or times in one or more tranche or tranches, at such price or prices, at a discount or premium to market price or prices in such manner and on such terms and conditions as may be decided and deemed appropriate by the Board at the time of such issue or allotment considering the prevalent market conditions and other applicable laws / factors in this regard, subject to necessary provisions & approvals.
3. Authority to the Board to create, offer, issue and allot upto 66,00,000 Equity warrants convertible into 66,00,000 Equity Shares on Preferential basis having face value of Rs 10/- each (where each such Equity warrant being exercisable, at the option of the holder being allotted one fully paid up equity share of Rs 10/- each) at such price including premium, being a price not less than the price, calculated in accordance with SEBI Guidelines for Preferential issue (Chapter XIII of the Securities and Exchange
Board of India (Disclosure and Investor Protection) Guidelines, 2000) and which can be convertible, in such number of options exercised by the holder of such Equity warrants, in one or more lots, at the option of the holder of such Equity warrants, into equity shares within a period not exceeding eighteen months (18 months) from the date of issue of Equity warrants in accordance with SEBI (DIP) Guidelines to the following allottee(s) as detailed herein below:
i. Name of the Allottee: Prime Industries Ltd (Non Promoter)
- Maximum No. of equity warrants to be allotted: 1500000
ii. Name of the Allottee: Star Global Resources Ltd (Non Promoter)
- Maximum No. of equity warrants to be allotted: 1500000
iii. Name of the Allottee: Mr. Dhiraj Saluja (Promoter)
-Maximum No. of equity warrants to be allotted: 1800000
iv. Name of the Allottee: Mrs. Reema Saluja (Promoter)
-Maximum No. of equity warrants to be allotted: 1800000. |
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