Sumeet Industries - EGM on Mar 03, 2008
Sumeet Industries Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on March 03, 2008, inter alia, to issue / offer equity shares of the Company of the face value of Rs 10/- each on right basis to the holders of Existing Shares at such price or prices for cash at such premium or in such manner as the Board or Committee thereof may in its absolute discretion think fit in consultation with the lead manager, advisors and such other person and on such terms and conditions including the number of securities to issue, amount of premium, fixing of record date and related or incidental matters there to, to subscribe the funds approx to the extent of Rs 26.00 Crores to part finance its Upcoming Expansion cum Backward Integration Project to the cost of Rs 125.00 Crores on following terms and conditions:-
i. The issued ‘Equity Right Shares’ shall be subject to Memorandum and Articles of Association of the Company.
ii. The issued ‘Equity Right Shares’ shall rank pari passu in all respects with the existing shares of the Company.
Tags: Sumeet Industries