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Sahyadri Industries Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of members of the Company will be held on February 14, 2008, inter alia, to transact the following:

1. To increase the Authorised Share Capital of the Company from Rs 11,00,00,000/- (Rupees Eleven Crores only) divided into 1,10,00,000 (One Crore Ten Lakh) Equity Shares of Rs 10/- (Rupees Ten only) each to Rs 12,00,00,000/- (Rupees Twelve Crores only) divided into 1,20,00,000 (One Crore Twenty Lakh) Equity Shares of Rs 10/- (Rupees Ten only) each and consequential amendments in the Memorandum of Association of the Company.

2. To create, issue, offer, and allot, in one or more trenches, on a preferential basis, up to 13,00,000 Equity Shares of Rs 10/- each to the following investors (Non Promoter Group) at a price of Rs 85/- per equity share or the minimum issue price calculated in accordance with chapter XIII of Guidelines for preferential issue of the SEB1(DIP) Guidelines, 2000, whichever is higher, for cash and on such other terms and conditions that the Board may deem appropriate in its absolute discretion.

i. Jalan Cement Works Ltd (Domestic Company) : 6,50,000 No. of Equity Shares proposed to be allotted

ii. Fontana Commodeal Pvt Ltd (Domestic Company) : 6,50,000 No. of Equity Shares proposed to be allotted

3. To offer, issue and allot, in one or more tranches, on a preferential basis, up to 7,00,000 Equity Share Warrants (”Warrants”), carrying an entitlement to subscribe to an equivalent number of Equity Shares of Rs 10/- each at a price of Rs 85/- per equity stare or a price calculated at the time of issue of warrants in accordance with clause 13.1.1 of chapter XIII of the SEBI (DIP) Guidelines, 2000, whichever is high or to the following investors (Non Promoter Group), and on such other terms and conditions, as the Board may deem appropriate in its absolute discretion.

i. Jalan Cement Works Ltd (Domestic Company) : 3,50,000 No. of Equity Warrants proposed to be allotted

ii. Fontana Commodeal Pvt Ltd (Domestic Company) : 3,50,000 No. of Warrants proposed to be allotted.

Tags: Sahyadri Industries

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