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| Exchange Disseminated Time | DB International Stock Brokers Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on September 14, 2009, inter alia, have accorded to the following:
1. Increase of Authorized Share Capital
Increase in the Authorised Share Capital of the Company from Rs 310,00,000/- to
Rs 10,00,00,000/- by the creation of 69,00,000 Equity shares of Rs 10/- each ranking pari - passu in a respects with the existing shares in the Company and consequential amendments in the Memorandum and Articles of Association of the Company.
2. Issue and Allot Equity Shares / Warrants on preferential basis:
Authority to the Board to create, offer, issue and allot, from time to time in one or more tranches, 40,00,000 Equity Shares and / or Warrants entitling to apply for equity shares to be subscribed by promoters / Promoter Group, domestic / foreign institutions, institutional investors, banks, mutual funds, insurance companies, bodies corporate, individuals or other entities, whether or not such investors are Members of the Company, under a preferential issue through offer letter and / or circular and / or information memorandum and / or such other documents / writings, in such a manner and on such terms and conditions as may be determined by the Board in its absolute discretion; provided that the price of the equity shares so issued shall not be less than Rs 29.00 (including a premium of Rs 19.00) per equity share of Rs 10 each being the price with respect to the Relevant Date i.e. August 14, 2009, as prescribed under the Guidelines for Preferential issues contained in Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 including any statutory modification or re-enactment thereof for the time being in force, subject to necessary provisions & approvals.
3. Amendment in the Articles of Association of the Company by inserting the definition in clause No. 2 of Articles of Association in alphabetical order |
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