Indiaco Ventures - Outcome of Board Meeting
Indiaco Ventures Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 04, 2008, transacted the following business:
1. Considered & approved issuance of 11221 equity shares of Rs 10/- each, the issue price being Rs 950/- each (inclusive of premium of Rs 940/- each) on a preferential basis to Jabali Finance Company Ltd, 325 Waterfront Drive, Omar Hodge Building, 2nd Floor, Wickham’s Cay, Road Town, Tortola, BVI subject to the approval of Shareholders by way of postal ballot and also in accordance with the provisions of Section 81 (1A) of the Companies Act, 1956 and all applicable Guidelines & Regulations as laid down by SEBI / FEMA.
2. Approved the appointment of Ms. Gaurangi Potdar, Practising Company Secretary as Scrutinizer for conducting postal ballot for the approved items of business to be
conducted through postal ballot.
3. Considered & approved the formation of an Asset Management Company.
4. Considered & approved the re-classification of the unissued 11,00,000 Optionally Convertible Preference Shares of Rs 100/- each comprised in the Authorised Share Capital of the Company as 1,00,00,000 Equity shares of Rs 10/- each. Member’s approval for the same to be obtained by way of postal ballot.
Tags: Indiaco Ventures