Exdon Trading Company Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on May 25, 2009, inter alia, have accorded the following:
1. Increased the authorized share capital of the Company from Rs 75,00,000 (Rupees Seventy Five Lakhs) divided in to 7,50,000 (Seven Lakh Fifty Thousand) Equity shares of Rs 10/- (Rupees Ten) each to Rs 4,75,00,000 (Rupees Four Crore Seventy Five Lakhs Only) divided in to 47,50,000 (Forty Seven Lakhs Fifty Thousand) shares of Rs 10/-(Rupees Ten) each, ranking pari passu with the existing equity shares and consequential amendments in Memorandum and Articles of Association of the Company.
2. Authority to the Board to issue, offer and allot upto 37,65,000 convertible warrants to he converted into equal number of equity shares of Rs 10/- for cash at par on preferential allotment basis within 18 months of allotment, on such terms and conditions and in such manner as the Board may think fit, without offering the same to any person, who at the date of offer are holders of equity shares of the Company whether or not the acquisition of warrants or voting rights upon conversion of warrants result in a change in control and such equity shares allotted upon conversion of warrants shall rank pari passu in all respects with the existing shares of the Company, subject to necessary provisions and approvals.
1. Increased the authorized share capital of the Company from Rs 75,00,000 (Rupees Seventy Five Lakhs) divided in to 7,50,000 (Seven Lakh Fifty Thousand) Equity shares of Rs 10/- (Rupees Ten) each to Rs 4,75,00,000 (Rupees Four Crore Seventy Five Lakhs Only) divided in to 47,50,000 (Forty Seven Lakhs Fifty Thousand) shares of Rs 10/-(Rupees Ten) each, ranking pari passu with the existing equity shares and consequential amendments in Memorandum and Articles of Association of the Company.
2. Authority to the Board to issue, offer and allot upto 37,65,000 convertible warrants to he converted into equal number of equity shares of Rs 10/- for cash at par on preferential allotment basis within 18 months of allotment, on such terms and conditions and in such manner as the Board may think fit, without offering the same to any person, who at the date of offer are holders of equity shares of the Company whether or not the acquisition of warrants or voting rights upon conversion of warrants result in a change in control and such equity shares allotted upon conversion of warrants shall rank pari passu in all respects with the existing shares of the Company, subject to necessary provisions and approvals.
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