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| Exchange Disseminated Time | Magnum Ventures Ltd has informed BSE that the members at the 31st Annual General Meeting (AGM) of the Company held on September 27, 2011 inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet of the Company as at March 31, 2011 and Profit and Loss Account for the year ended on that date together with the Reports of the Auditors and Directors thereon.
2. Re-appointment of Mr. Subhash Oswal as director of the company who was liable to retire by rotation.
3. Re-appointment of Mr. Parmod Kumar Jain as director of the company who was liable to retire by rotation.
4. Re-appointment of Sunil K. Mittal & Co., Chartered Accountants as the Statutory Auditors of the Company.
5. Re-appointment of Mr. Pradeep Kumar Jain, as Managing Director of the Company for a tenure of 5 years w.e.f. February 04, 2011, on remuneration, terms & conditions.
6. Appointment of Mr. Kamal Prasad, as an ordinary Director of the Company whose office shall not be liable for determination through retirement by rotation.
7. To create, offer, issue and allot, in one or more trenches, equity shares, debentures, bonds, instrument which is fully or partly convertible into Equity Shares, warrants whether in Indian Rupee or any foreign currency (hereinafter collectively referred to as "Securities"), secured or unsecured, or any other instruments, to any person, whether or not the members of the Company, including the Promoters of the Company, their Friends, Relatives & Associates, Business Associates, employees (including directors & workers) of the Company and its group companies, Corporate Bodies, Mutual Funds, Financial Institutions, Banks, Foreign Institutional Investors, Non Resident Indians, Foreign Nationals, Insurance Companies, Pension Funds, Portfolio Managers, etc., by way of right issue, public issue, Global Depository Receipts (GDR), American Depository Receipts (ADR) reservation on competitive basis, reservation on firm allotment basis, private placement, preferential allotment basis or a combination thereof at such price or prices so however that the total amount raised through the aforesaid Securities should not exceed Rs. Two hundred Crores subject to however, the total aggregate of such securities placed in the International Market will not exceed Rs. One hundred Crores when converted into Indian Rupees at the current prevailing market conversion rate of US Dollars or any foreign currency to Indian Rupee and on such terms and conditions or in such manner as the Board may in its absolute discretion think fit, in consultation with the Lead Managers, Advisors and/ or such other persons and on such terms and conditions including the ratio in which such Securities may be offered, issued and allotted to the existing shareholders, the number of Securities to be issued, face value of the Securities, rate of interest, premium, number of equity shares to be allotted on conversion, exercise of rights attached with warrants, ratio of exchange of shares and/ or warrants and/ or any other financial instruments, period of conversion, fixing of record date or book closure and other related or incidental matters. |
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