Atlanta Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 24, 2008, inter alia, to transact the following business:
1. To take on record disclosure of interest pursuant to section 299 of the Companies Act,
1956 received from the Directors of the Company.
2. To review the current performance of the Company.
3. To review the Corporate Governance compliances by the Company.
Atlanta Ltd has informed BSE about the Statement showing the utilization of funds raised through issue of shares for the quarter and year ending March 31, 2008.
“The Company had raised Rs 645.00 Million through issue of 43,00,000 equity shares on its Initial public offer.
The funds will be progressively utilized and the unutilized funds have been kept with the Monitoring Agency Punjab National Bank.
- Particulars: Investment in BOT project
Objects of the Issue: Rs 429.20 Million
Actual as on March 31, 2008: Rs 429.20 Million
- Particulars: Purchase of Plant & Machinery for Mining Purpose
Objects of the Issue: Rs 80.74 Million
Actual as on March 31, 2008: Rs 4.66 Million
- Particulars: Real Estate Projects
Objects of the Issue: Rs 50 Million
Actual as on March 31, 2008: Rs 50 Million
- Particulars: Purchase of plant & machinery for Construction and real estate business
Objects of the Issue: Rs 54.9 Million
Actual as on March 31, 2008: Rs 12.26 Million
- Particulars: Repayment of High Cost debt
Objects of the Issue: Rs 100 Million
Actual as on March 31, 2008: Rs 100 Million
- Particulars: Incremental Working Capital Requirement
Objects of the Issue: Rs 100 Million
Actual as on March 31, 2008: -
- Particulars: Issue Expenses
Objects of the Issue: Rs 51.16 Million
Actual as on March 31, 2008: Rs 49.82 Million
- Particulars: Balance With Bank
Actual as on March 31, 2008: Rs 0.06 Million
Total : - Objects of the Issue : Rs 866.66 Million
Total : - Actual as on March 31, 2008 : Rs 646.00 million
Balance of Rs 0.06 millions include interest earns of Rs 1.00 million
The Company had raised Rs 85.72 Million as 10% Margin money from issue of 27,00,000 convertible warrants and has fully utilized the amount for the stated object.”