Electrotherm India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 08, 2008, inter alia, to consider the following business:
1. To consider and approve the Audited Financial Results for the financial year ended on March 31, 2008
2. To consider recommendation of dividend for the year ended March 31, 2008.
Electrotherm India Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 28, 2008, inter alia, have accorded the following:
1. Authority to the Board to raise funds in the form of “Qualified Institutions Placement” (QIP) and to offer, issue and allot from time to time, in one or more tranches in consultation with the Lead Managers and/or Underwriters and/or other Advisors, equity shares or any securities other than warrants, which are convertible into or exchangeable with equity share at a later date (”Specified Securities”), to Qualified Institutional Buyers (QIBs) as defined under sub-clause (v) of clause 2.2.2 B of the SEBI Guidelines at such price or prices as calculated / specified In Clause 13A.3 of the Chapter XIII-A of the SEBI Guidelines, or at such higher price as may be decided by and deemed appropriate by the Board at its absolute discretion including the discretion to determine the QIBs to whom the offer, issue and allotment of Specified Securities considering the prevailing market conditions and other relevant facts wherever necessary in consultation with Lead Managers and/or other Advisors, for an aggregate sum not exceeding Rs 300 Crores (Rupees Three Hundred Crore Only), subject to necessary provisions & approvals.
2. Authority to the Board to offer, issue and allot in one or more lot(s), on private placement and/or preferential basis, not exceeding 13,70,000 (Thirteen Lacs Seventy Thousand Only) Equity Shares of the face value of Rs 10/- each for cash at a price including premium to be determined in accordance with and on such further terms and conditions specified in the SEBI Guidelines for Preferential Issue, but not less than Rs 600/- (Rupees Six Hundred only) per share, to the following persons/entities by itself and/or through one of its affiliates (hereinafter referred the Investors):
i. Name of the Proposed Allottees & Category: DEG Deutsche Investitions - Und Entwicklungsgesellschaft mbH (Foreign Financial Institution)
- Maximum No. of Equity Shares to be issued: 13,70,000
3. Authority to the Board to borrow any sum or sums of money (including non fund based facilities) from time to time at their discretion, for the purpose of the business of the Company, from any one or more Banks, Financial institutions and other persons, firms, bodies corporate, notwithstanding that the monies to be borrowed together with the monies already borrowed by the Company (apart from temporary loans obtained from the Company’s Bankers in the ordinary course of business) may, at anytime, exceed upto a sum of Rs 2500 Crore (Rupees Two Thousand Five Hundred Crore) over and above the aggregate of the then paid up capital of the Company and its free reserves (that is to say reserves not set apart for any specific purpose) and that the Board of Directors be and is hereby empowered and authorised to arrange or fix the terms and conditions of all such monies to be borrowed form time to time as to interest, repayment, security or otherwise as they may, in their absolute discretion, think fit, subject to necessary provisions & approvals.
Electrotherm India Ltd has informed BSE that:
1. Pursuant to the approval of the shareholders of the Company at the Extra Ordinary General Meeting held on March 01, 2007 and the meeting of the Committee of the Board of Directors of the Company held on March 31, 2008, the Company has allotted 4,75,000 equity shares at conversion price of Rs 600 per warrant to Promoter Group Company M/s. Western India Speciality Hospital Ltd. on a preferential allotment basis on the exercise of the option for conversion of 4,75,000 warrants out of 9,75,000 warrants issued by the Company to M/s. Western India Speciality Hospital Ltd.
2. Pursuant to the approval of the Shareholders of the Company at the Extra Ordinary General Meeting held on March 28, 2008 and the meeting of the Committee of the Board of Directors of the Company held on March 31, 2008, the Company has allotted 13,66,666 Equity shares on a preferential basis at a price of Rs 600/- to DEG ? Deutsche Investitions - und Entwicklungsgesellschaft mbH (DEG).
Consequently, on the allotment of 4,75,000 Equity Shares of Rs 10/- each and 13,66,666 Equity Shares of Rs 10/- each as aforesaid, the paid up share capital of the Company as on March 31, 2008 stands increased to 1,09,76,374 equity shares of Rs 10/- each, amounting to Rs 10,97,63,740/- from 91,34,708 equity shares of Rs 10/- each amounting to Rs 9,13,47,080/-.
Electrotherm India Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 28, 2008, have approved the following:
1. To raise funds through Qualified Institutions Placement (QIP) for an aggregate sum not exceeding Rs 300 Crores.
2. To raise funds through Preferential Allotment of Equity Shares for an amount not exceeding Rs 82 Crores.
3. To increase Borrowing limits upto a sum of Rs 2500 Crores.
Electrotherm India Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on March 28, 2008, inter alia, to transact the following Business:
1. To raise funds in the form of “Qualified Institutions Placement” (QIP) and to offer, issue and allot from time to time, in one or more tranches in consultation with the Lead Managers and/or Underwriters and/or other Advisors, equity shares or any securities other than warrants, which are convertible into or exchangeable with equity share at a later date (”Specified Securities”), to Qualified Institutional Buyers (QIBs) as defined under sub-clause (v) of clause 2.2.2 B of the SEBI Guidelines at such price or prices as calculated / specified In Clause 13A.3 of the Chapter XIII-A of the SEBI Guidelines, or at such higher price as may be decided by and deemed appropriate by the Board at its absolute discretion including the discretion to determine the QIBs to whom the offer, issue and allotment of Specified Securities considering the prevailing market conditions and other relevant facts wherever necessary in consultation with Lead Managers and/or other Advisors, for an aggregate sum not exceeding Rs 300 Crores (Rupees Three Hundred Crore Only), subject to necessary provisions & approvals.
2. To offer, issue and allot in one or more lot(s), on private placement and/or preferential basis, not exceeding 13,70,000 (Thirteen Lacs Seventy Thousand Only) Equity Shares of the face value of Rs 10/- each for cash at a price including premium to be determined in accordance with and on such further terms and conditions specified in the SEBI Guidelines for Preferential Issue, but not less than Rs 600/- (Rupees Six Hundred only) per share, to the following persons/entities by itself and/or through one of its affiliates (hereinafter referred the Investors):
i. Name of the Proposed Allottees & Category: DEG Deutsche Investitions - Und Entwicklungsgesellschaft mbH (Foreign Financial Institution)
- Maximum No. of Equity Shares to be issued: 13,70,000
3. To borrow any sum or sums of money (including non fund based facilities) from time to time at their discretion, for the purpose of the business of the Company, from any one or more Banks, Financial institutions and other persons, firms, bodies corporate, notwithstanding that the monies to be borrowed together with the monies already borrowed by the Company (apart from temporary loans obtained from the Company’s Bankers in the ordinary course of business) may, at anytime, exceed upto a sum of Rs 2500 Crore (Rupees Two Thousand Five Hundred Crore) over and above the aggregate of the then paid up capital of the Company and its free reserves (that is to say reserves not set apart for any specific purpose) and that the Board of Directors be and is hereby empowered and authorised to arrange or fix the terms and conditions of all such monies to be borrowed form time to time as to interest, repayment, security or otherwise as they may, in their absolute discretion, think fit, subject to necessary provisions & approvals.
Electrotherm India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 03, 2008, has approved the following:
1. To raise funds through Qualified Institutional Placement (QIP) for an aggregate sum not exceeding Rs 300 Crores.
2. To raise funds through Preferential Allotment of Equity Shares for an amount not exceeding Rs 82 Crores.
3. To Increase in Borrowing limits upto a sum of Rs 2500 Crores.
4. An Extra Ordinary General Meeting of the Company will be held on March 28, 2008 for approval of members.
Electrotherm India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 03, 2008, inter alia, to consider the following business:
1. To consider raising or funds through Qualified Institutional Placement (QIP) and / or Preferential Allotment of Equity Shares or any Other means.
2. Increase in Borrowing power of the Board.