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| Exchange Disseminated Time | Mangalam Drugs & Organics Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 29, 2006, inter alia, to transact the following:
1. To create, offer, issue and/or allot 6,50,000 number of Equity Shares of Rs 10/- each at a price of Rs 23/- per share and 7,50,000 number of Warrants convertible into equivalent number of Equity Shares of Rs 10/- each within 18 months from the date of
allotment of warrants, at an exercise price of Rs 23/- (including premium) per equity share / warrant, which price is calculated in accordance with the Guidelines for Preferential Issues issued by SEBI under Securities Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000 with October 30, 2006 being the ‘relevant date' i.e. the date thirty days prior to the date of Extra-ordinary General Meeting of the Company where the proposed issue to be considered, on such other terms and conditions as may deemed appropriate by the Board, to the person in promoter group and person other than promoters group as per detail below:
i. Equity Shares:
Poonawala Investments and Industries Pvt Ltd (Person other than promoter group) - 6,50,000 (no of Equity Shares)
ii. Warrants convertible into equity shares with in 18 months from the date of allotment
Ramniwas R Dhoot (Promoter Group) - 7,50,000 no of Equity Shares
2. Increase in the Authorised Share Capital of the Company from Rs 14,00,00,000/- divided into 1,40,00,000 Equity Shares of Rs 10/- each to Rs 15,00,00,000 /- divided into 1,50,00,000 Equity Shares of Rs 10/- each by creation of 10,00,000 additional Equity Shares of Rs 10/- each and consequential amendments in the Memorandum and Articles of Association of the Company. |
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