|
| Exchange Disseminated Time | Onward Technologies Ltd has informed BSE that the Board of Directors at their meeting held on December 07, 2004 have taken the following decisions:
To convene an Extra Ordinary General Meeting of the Shareholders of the Company on January 4, 2005 to consider the following matters requiring shareholders approval as a Special resolution under the provision of the Companies Act, 1956.
a. Consent of the shareholders in terms of Section 81 and other applicable provisions of the Companies Act, 1956 for issue, offer equity shares in such manner as the Board may decide at its sole discretion to members or to any person or the public or a section of the public including Domestic Mutual Funds, Indian Financial Institutions, Pension Funds, Offshore Funds, Non-resident Indians and /or Foreign Institutional Investors.
b. Consent of the shareholders in terms of Section 81(1A) and other applicable provisions of the Companies Act, 1956 for issue and allotment of 14,00,000 equity shares of Rs l0/- each at a premium of Rs 60/ per share, i.e. Rs 70/- per share or at higher price, if and as determined by the Auditors of the Company as per the guidelines issued by SEBI for the issue of shares on Preferential basis.
c. Consent of the shareholders in terms of Section 81(1A) and other applicable provisions of the Companies Act, 1956 for issue and allotment of 5,00,000 equity shares of Rs 10/- each at a premium of Rs 60/- per share, i.e. Rs 70/- per share or at higher price, if and as determined by the Auditors; of the Company as per the guidelines issued by SEB1 for the issue of shares on Preferential basis, to Mr. Harish Mehta, Promoter of the Company, including Promoter Group Companies, his relatives, friends and business Associates.
d. Consent of shareholders in terms of Section 81(1A) of the Companies Act, 1956 to partially modify the scheme of ESOP, 2001 approved by the Shareholders at the meeting held on October 15, 2001. |
|
|