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| Exchange Disseminated Time | Impex Ferro Tech Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the following resolutions:
1. To increase the Authorised Share Capital from Rs. 5,80,000/- (Rupees Fifty Eight Crores only) divided into 58,000,000 Equity Shares of Rs. 10/- each to Rs. 680,000,000/- (Rupees Sixty Eight Crores only) divided into 68,000,000 Equity Shares of Rs. 10/- each by creation of 10,000,000 Equity Shares of Rs. 10 each ranking pari-passu in all respect with the existing Equity Shares & consequential amendment in the Memorandum of Association of the Company.
2. Authority to the Board to create, offer, issue and allot on preferential basis, at its sole and absolute discretion, 17,500,000 (One Crore Seventy Five Lacs) Equity Shares of Rs. 10/- each at a price of Rs. 20/- or the price as determined in accordance with SEBI (lssue of Capital and Disclosure Requirements) Regulations, 2009, whichever is higher, and on such terms and conditions as may be decided and deemed appropriate by the Board in its absolute discretion to the following entities :-
i. Name of Allottee (Promoter Group): Suanvi Trading & Investment Co. Pvt. Ltd
- No. of Equity Shares: 2,700,000
ii.Name of Allottee (Promoter Group): Invesco Finance Pvt. Ltd
- No. of Equity Shares: 4,025,000
iii. Name of Allottee (Promoter Group): Poddar Mech Tech Services Pvt. Ltd
- No. of Equity Shares: 5,000,000
iv. Name of Allottee (Promoter Group): Vasupujya Enterprise Pvt. Ltd
- No. of Equity Shares: 2,275,000
v. Name of Allottee (Non-Promoter Group): Aparajita Vanijya Pvt. Ltd
- No. of Equity Shares: 2,000,000
vi. Name of Allottee (Non-Promoter Group): Cube Fintex Pvt. Ltd
- No. of Equity Shares: 1,500,000
The Board of Directors has appointed CS Abhijeet Jain, Practicing Company Secretary, as Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.
The duly completed Postal Ballot form should reach the Scruttnizer not later than the close of working hours i.e. 6:00 p.m. on February 04, 2012. Upon completion of the scrutiny of the Forms, the Scrutinizer will submit his report to the Chairman latest by February 09, 2012. The result of the Postal Ballot will be announced by Mr. Suresh Kumar Patni, Chairman, and in his absence, Mr. Rohit Patni, Director of the Company on February 09, 2012 at 3.30 P.M. at the Corporate Office of the Company. |
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