Ind Swift - Outcome of EGM
Ind Swift Laboratories Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EFM) of the Company held on February 29, 2008, inter alia, have accorded their approval to offer issue and allot up to 25,00,000 Zero Coupon Convertible Warrants (2008 series) at a price of Rs 70/- each (”Warrants”) based on relevant date i.e. January 30, 2008 on a preferential basis in one or more tranches on such terms and conditions and in manner as the Board may think fit, without offering the same to any other persons who at the date of offer are holders of the equity shares; each Warrant entitling the holder thereof to apply and be allotted one fully paid-up equity share of Rs 10/- each, at any time not exceeding eighteen months from the date of allotment of the Warrants in accordance with the SEBI (DIP) Guidelines and other relevant authorities as may be applicable such that the total number of equity shares to be issued by the Company upon conversion of the Warrants do not exceed 25,00,000 shares of Rs 10/- each on such terms and conditions as may be decided and deemed appropriate by the Board of Directors of the Company (”Board” which shall be deemed to include any duly authorized committee thereof) at the time of issue of Allotment to the following Promoter Group Company and other Bodies Corporate, subject to necessary provisions and approvals :
1. Essix Biosciences Ltd: 14,00,000 No of Warrants
2. Dextsoft Solutions Pvt Ltd: 6,00,000 No of Warrants
3. Mongor Marketing Pvt Ltd: 5,00,000 No of Warrants.
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