Glittek Granites Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 31, 2008, inter alia, to consider the following:
1. To consider and take on record the unaudited Financial Results of the Company for the quarter ended June 30, 2008.
2. To consider delisting of the equity shares of the Company from Bangalore Stock Exchange Ltd.
Glittek Granites Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 30, 2008, inter alia, has approved the following:
1. Appointment of Shri. Amit Dhanuka, Chartered Accountant, as additional independent director to make the Board independent directors compliant.
2. Delisting of shares from Bangalore Stock Exchange Ltd.
3. The Board has not declared any dividend in the absence of the inadequate profit.
Glittek Granites Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 30, 2008, inter alia, to consider and approve the following business:
1. Appointment of additional independent director to make the Board independent directors compliant.
2. Delisting of shares from Bangalore Stock Exchange Ltd.
3. Annual Accounts for the year ended March 31, 2008 and matter relating thereto.
Glittek Granites Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 14, 2008, inter alia, has approved the allotment of 7826000 equity share of Rs 5/- each at a price of Rs 5.75 per share inclusive of premium of
Rs 0.75 per share on preferential basis to the promoters / promoter group and a strategic investor and also approved the redemption of 37000 8% CCPS of Rs 1000/- each.
Glittek Granites Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 14, 2008, inter-alia, to consider the allotment of 7826000 equity shares on preferential basis to the promoters/promoter group and a strategic Investor, pursuant to the approval received from the shareholders by way of the special resolution in the Extra ordinary general meeting held on April 08, 2008.
Glittek Granites Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 08, 2008, inter alia, have also accorded the following:
1. Increase and reclassified the Authorized Share Capital of the Company from Rs 13,50,00,000/- (Rupees Thirteen Crore Fifty Lakh Only) divided into 1,96,00,000 Equity Shares of Rs 5/- each and 37,000 Preference Shares of Rs 1,000/- each to Rs 14,00,00,000/- (Rupees Fourteen Crores Only) divided into 2,80,00,000 Equity Shares of Rs 5/- each ranking pari-passu with the existing Equity Shares of the Company & consequential amendments in the Memorandum of Association of the Company.
2. Authority to the Board to offer, issue and allot, in one or more trenches, upto 78,26,000 Equity Shares of the face value of Rs 5/- each at a price of Rs 5.75 per share (including a premium of Rs 0.75 per share) in the equity share capital of the Company on preferential basis in compliance with Chapter XIII of SEBI (DIP) guidelines, 2000 and subsequent amendments thereto & on such terms and conditions and in such manner as the Board may in its absolute discretion deem fit, to the following persons/entities as mentioned below:
i. Name of the Proposed Allottee: M/s. Virdhi Commercial Co. Ltd (Promoter / Promoter Group)
- No. of Equity Shares: 22,43,500
ii. Name of the Proposed Allottee: M/s. U S D Industries Pvt Ltd (Promoter / Promoter Group)
- No. of Equity Shares: 19,47,800
iii. Name of the Proposed Allottee: Mr. Kamal Kumar Agarwal (Promoter / Promoter Group)
- No. of Equity Shares: 61,000
iv. Name of the Proposed Allottee: Mr. Ashoke Agarwal (Promoter / Promoter Group)
- No. of Equity Shares: 35,000
vi. Name of the Proposed Allottee: Mr. Rajendra Kumar Mittal (Promoter / Promoter Group)
- No. of Equity Shares: 2,08,700
vii. Name of the Proposed Allottee: Mr. Mrigaya Vinimay Pvt Ltd (Strategic Investor)
- No. of Equity Shares: 33,30,000
3. Re-appointment of Sri. Kamal Kumar Agarwal as Managing Director of the Company for a period of five years with effect from April 01, 2008 (whose present appointment expire on March 31, 2008), on remuneration, terms & conditions.
4. Re-appointment of Sri. Ashoke Agarwal as Joint Managing Director of the Company for a period of Five Years with effect from April 01, 2008 (whose present appointment expire on March 31, 2008), on remuneration, terms & conditions.
Glittek Granites Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 08, 2008, inter alia, have approved the following resolutions by requisite majority:
1. Preferential issues of 78,26,000 Equity Shares of Rs 5/- each at a premium of Rs 0.75 per share aggregating Rs 4,49,99,500.00 to the persons specified in the resolution No. 2 of the Notice of EGM.
2. Increase and reclassification of Authorized Capital specified being item No 1 of the EGM Notice, vide which the Authorizes Share Capital shall be Rs 14,00,00,000/- divided into 2,80,00,000 Equity Shares of Rs 5/- each.
3. Re-appointment of Sri. Kamal Kumar Agarwal and Sri. Ashoke Agarwal as Managing and Joint Managing Director respectively of the Company for a period of 5 years effective from April 01, 2008 on the terms and conditions.
Glittek Granites Ltd has informed BSE that the Company will furnish the audited results within a period of three months of the close of the Company’s accounting year 2007-2008 i.e. by June 30, 2008.
Therefore, the Company is not publishing the Un-audited Quarterly results for the 4th quarter of the year 2007-2008 i.e. from January 01, 2008 to March 31, 2008.
Glittek Granites Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on April 08, 2008, inter alia, to transact the following:
1. To increase and reclassified the Authorized Share Capital of the Company from Rs 13,50,00,000/- (Rupees Thirteen Crore Fifty Lakh Only) divided into 1,96,00,000 Equity Shares of Rs 5/- each and 37,000 Preference Shares of Rs 1,000/- each to Rs 14,00,00,000/- (Rupees Fourteen Crores Only) divided into 2,80,00,000 Equity Shares of Rs 5/- each ranking pari-passu with the existing Equity Shares of the Company & consequential amendments in the Memorandum of Association of the Company.
2. To offer, issue and allot, in one or more trenches, upto 78,26,000 Equity Shares of the face value of Rs 5/- each at a price of Rs 5.75 per share (including a premium of Rs 0.75 per share) in the equity share capital of the Company on preferential basis in compliance with Chapter XIII of SEBI (DIP) guidelines, 2000 and subsequent amendments thereto & on such terms and conditions and in such manner as the Board may in its absolute discretion deem fit, to the following persons/entities as mentioned below;
i. Name of the Proposed Allottees: M/s. Virdhi Commercial Co. Ltd (Promoter / Promoter Group)
- No. of Equity Shares: 22,43,500
ii. Name of the Proposed Allottees: M/s. U S D Industries Pvt Ltd (Promoter / Promoter Group)
- No. of Equity Shares: 19,47,800
iii. Name of the Proposed Allottees: Mr. Kamal Kumar Agarwal (Promoter / Promoter Group)
- No. of Equity Shares: 61,000
iv. Name of the Proposed Allottees: Mr. Ashoke Agarwal (Promoter / Promoter Group)
- No. of Equity Shares: 35,000
vi. Name of the Proposed Allottees: Mr. Rajendra Kumar Mittal (Promoter / Promoter Group)
- No. of Equity Shares: 2,08,700
vii. Name of the Proposed Allottees: Mr. Mrigaya Vinimay Pvt Ltd (Strategic Investor)
- No. of Equity Shares: 33,30,000
3. Re-appointment of Sri. Kamal Kumar Agarwal as Managing Director of the Company for a period of five years with effect from April 01, 2008 (whose present appointment expire on March 31, 2008), on remuneration, terms & conditions.
4. Re-appointment of Sri. Ashoke Agarwal as Joint Managing Director of the Company for a period of Five Years with effect from April 01, 2008 (whose present appointment expire on March 31, 2008), on remuneration, terms & conditions.
Glittek Granites Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 09, 2008, has approved the following:
1. The raising of resources to part finance the expansion plans of the Company and redemption of 8% cumulative / convertible / redeemable preference shares of the Company by fresh issue of upto 78,26,000 equity shares on preferential basis of nominal value of Rs 5/- each at a price of Rs 5.75 each (including a premium of Rs 0.75 per share) aggregating to Rs 450.00 Lacs to the promoters and their associates and a non promoter as detailed below:
(A) Promoters and their Associates
(i) M/s. Virdhi Commercial Co. Ltd : 22,43,500
(ii) M/s. U S D Industries Pvt Ltd : 19,47,800
(iii) Mr. Kamal Kumar Agarwal : 61,000
(iv) Mr. Ashoke Agarwal : 35,000
(v) Mr. Rajendra Kumar Mittal : 2,08,700
- TOTAL (A) 44,96,000
(B) Non-Promoter Shareholders:
(i) M/s. Mrigaya Vinimay Pvt Ltd : 33,30,000
- TOTAL (B) 33,30,000
2. The increase and re-classification of the Authorized Share Capital of the Company from
Rs 13,50,00,000 (Rupees Thirteen Crore Fifty Lakh Only) divided into 1,96,00,000 Equity Shares of Rs 5/- each and 37,000 Preference Shares of Rs 1,000/- each to Rs 14,00,00,000 (Rupees Fourteen Crores Only) divided into 2,80,00,000 Equity Shares of Rs 5/- each ranking pari-passu with the existing Equity Shares of the Company.
3. The reappointment of Sri. Kamal Kumar Agarwal as Managing Director of the Company for a period of five years with effect from April 01, 2008 on remuneration, terms & conditions.
4. The reappointment of Sri. Ashoke Agarwal as Joint Managing Director of the Company for a period of Five Years with effect from April 01, 2008 on remuneration, terms & conditions.
Further the Company has informed that, an Extra Ordinary General Meeting of the Shareholders of the Company will be held on April 08, 2008.