Sybly Industries - EGM on Feb 27, 2008
Sybly Industries Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on February 27, 2008, inter alia, to transact the following business:
1. To create, offer, issue and allot 4,35,00,000 Warrants at a price of Rs 10/- Per warrant carrying a right to subscribe to equal number of equity shares in the Company on Conversion within a period of 18 months from the date of allotment (Warrants) in cash aggregating to Rs 43,50,00,000/- which price is calculated in accordance with the Guidelines for preferential issue issued by SEBI under Securities and Exchange Board of India (Disclosure and investor Protection) Guidelines 2000, with January 28, 2008 being the relevant date i.e. the date 30 days prior to the date of Extra Ordinary General Meeting of the company, where the proposed issue is to be considered and shall be payable on such terms as may be deemed appropriate by the Board, on preferential basis, of an amount not exceeding Rs 43,50,00,000/- in the aggregate, subject to necessary provisions &
approvals.
2. To issue, offer and allot, in domestic / international offerings any securities including Global Depositary Receipts and / or American Depositary Receipts convertible into equity shares, preference share, whether Cumulative / Redeemable / Convertible at the option of the Company and / or the option of the holders of the security and/or securities linked to equity shares / preference shares and for any instrument or securities representing convertible securities such as convertible debentures, bonds or warrants convertible into equity shares / preference shares (here in after referred to as Securities) to be subscribed by foreign / domestic investors / institutions and/or corporate bodies including mutual funds, banks, insurance companies and / or individuals or otherwise, whether or not such persons / entities / investors are members of the Company as may be deemed appropriate by the Board and permitted under applicable laws and regulations upto an aggregate amount not exceeding US $ 25 Million or equivalent with Green Shoe Option, as may be applicable, whether in Indian currency or foreign currency inclusive of such premium as may be fixed on such securities by offering such securities in one or more countries through public offer and/or offer letter and/or circular and/or information memorandum and/or such other documents / writings and such issue and allotment to be made at such time or times in one or more trenches, at such price or prices, calculated as per the prevalent rules & regulations in this regard, and on such terms and conditions and in such manner as the Board may in its absolute discretion think fit, in consultation with the Lead Managers, Underwriters, Advisors or other intermediaries, subject to necessary provisions & approvals.
3. To increased the Authorised Share Capital of the Company from Rs 10,50,00,000/- (Rupees Ten Crores Fifty lacs only divided into 1,05,00,000 (One crore five Lacs) Equity shares of Rs 10/- each to Rs 70,00,00,000/- (Rupees Seventy Crores only) by addition thereto 5,95,00,000/- (Five crores ninety five lacs only) Equity Shares of Rs 10/- each which shall rank Pari Passu in all respects with the existing Equity Shares of the Company & consequential amendment in the Memorandum of Association of the Company.
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