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| Exchange Disseminated Time | Sanwaria Agro Oils Ltd has informed BSE that the members at the 18th Annual General Meeting (AGM) of the Company held on September 30, 2009, inter alia, has approved the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2009 and Profit & Loss Account of the Company for the period ended on March 31, 2009, together with the Directors Report and Auditors Reports thereon.
2. Declaration of final dividend 15% i.e. Rs 0.15 per share to the Equity Shareholders of the company for the F.Y. 2008-09.
3. Re-appointment of Shri. Rajul Agrawal, Shri. Shyam Babu Agrawal & Shri. Santosh Kumar Tiwari, as Directors of the Company, liable to retire by rotation.
4. Appointment of M/s. Khandelwal Kakani & Company, Chartered Accountants, as Auditors of the Company in place of the retiring auditors M/s M Munshi & Company, Chartered Accountant, to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting of the Company on remuneration, terms & conditions.
5. Increasing authorized share capital of the company by addition thereto of the sum of Rs 1,00,00,000/- (Rupees One Crore) beyond the present authorized capital of Rs 20,00,00,000/- (Rupees Twenty Crores). The increased Capital is divided into 21,00,00,000 (Twenty One Crore) Equity Shares of Re. 1/- each.
Clause V of Memorandum of the Association of the Company is amended as follows:
The authorized share capital of the Company is Rs. 21,00,00,000/- (Rupee Twenty One Crores) divided into 21,00,00,000 Equity Shares of Re. 1/- each. The company has power front time to time to increase or reduce its capital and to consolidated, divide and subdivide the shares in the capital for time being into several class and to attach thereto such preferential deferred qualified or other special rights, privileges, conditions and restrictions as may be determined by or in accordance with the articles of association of the company and to vary, modify or abrogate any such right, privileges, conditions or restrictions in such manner as may from the time being is permitted by the legislative by the provision for the time being in force.
6. Shifted the registered office of the company from its present situation at 19-30, Industrial Area, Kheda, Itarsi to E- 1/1, Arera Colony, Bhopal, a place falling outside the local limits of the town where it is presently situated but within the same State under the jurisdiction of the same Registrar of Companies.
7. Authority to the Board, to create, issue, offer and allot equity shares for an amount not exceeding Rs. 200 crores to be raised in one or more trenches by way of private placement of equity shares including allotment to Qualified Institutional Buyers (QIBs) through Qualified Institutional Placement (QIP) in terms of Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 (SEBI DIP Guideline) or through public issue, rights issue and/or private offerings in domestic and/or one or more international market(s), whether by way of direct issue of equity shares or through depository receipts, whether Global Depository Receipts or American Depository Receipt or Foreign Currency Convertible Bonds (FCCBs) and / or any instrument or securities convertible into equity shares at the option of the holder(s), whether or not such investors are existing shareholders of the Company at such price or prices, at market price(s) or at a discount or at a premium to market price(s) in such manner and where necessary in consultation with the lead manager and/ or underwriters and / or other advisors or otherwise on such terms and conditions as the Board may, in their absolute discretion, decide at the time of the issue subject to necessary provisions & approvals.
8. Authority to the Board, to enhance / modernize the existing Soya seed crushing capacity from 3250 TPD to 5000 TPD, refining capacity from 350 TPD to 1000 TPD, Vanaspati (Ghee) Plant to 50 TPD and Refinery for Imported Vegetable Oil by 150 TPD by 2010, the expansion includes setting up of manufacturing facility of value added products i.e. Soya Flour
200 TPD, TVP 100 TPD by 2010, by set up of new plants at the existing locations or acquisitions of plants at surrounding areas.
9. Payment of enhanced remuneration and perquisite to Shri. Gulab Chand Agrawal, Shri Satish Agrawal, Shri Ashok Agrawal & Shri Anil Agrawal, Whole Time Directors of the Company, with effect from October 01, 2009 till the completion of existing term, on terms & conditions. |
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