Himadri Chemicals & Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 16, 2008, inter alia, has approved an increase of authorised share capital of the Company existing from Rs 40 Crores to Rs 50 Crores, subject to the approval of the Company in ensuing annual general meeting.
Himadri Chemicals & Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 16, 2008, inter alia, has recommended a dividend of 20% on equity shares of the company for the year ended March 31, 2008, subject to the approval of the shareholders at the Annual General Meeting of the company.
Himadri Chemicals & Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 16, 2008, inter alia, to transact the following:
1. To consider and take on record the Audited Financial Results of the Company for the year ended March 31, 2008.
2. To recommend payment of dividend if, any, for the financial year ended March 31, 2008.
3. To consider the increase in Authorized Share Capital of the Company subject to the approval of the shareholders.
Himadri Chemicals & Industries Ltd has informed BSE that the Committee of Directors (Issue and Allotment of Securities) of the Company, at its’ meeting held on May 15, 2008 has allotted 3,40,000 Equity Shares of Rs 10/- each at the price of Rs 229.25 per share (including premium of Rs 219.25 per share) to the persons (as per attachment) upon the exercise of right attached to the outstanding warrants to the Company issued on Preferential basis on December 01, 2006 and December 02, 2006.
1. Citigroup Venture Capital International Growth Partnership Mauritius Fund
- No of warrants Exercised - 254085
- No of Shares Allotted - 254085
2. Gautam Nayak and Keshav Bhujale - Trustees of “Growth Partnership Ajay Relan Co-Investment Trust”
- No of Warrants Exercised - 723
- No of Shares Allotted - 723
3. Gautam Nayak and Keshav Bhujale - Trustees of “Growth partnership P R Srinivasan Co-Investment Trust”
- No of Warrants Exercised - 48
- No of Shares Allotted - 48
4. Gautam Nayak and Keshav Bhujale - Trustees of “Growth partnership Vinayak Shenvi Co-Investment Trust”
- No of Warrants Exercised - 48
- No of Shares Allotted - 48
5. Gautam Nayak and Keshav Bhujale- Trustees of “Growth Partnership J K Basu Co-Investment Trust”
- No of Warrants Exercised - 48
- No of Shares Allotted - 48
6. Gautam Nayak and Keshav Bhujale - Trustees of “Growth Partnership Vivek Chhachhi Co-Investment Trust”
- No of Warrants Exercised - 48
- No of Shares Allotted - 48
7. Himadri Industries Ltd
- No of Warrants Exercised - 85000
- No of Shares Allotted - 85000
The option for conversion has been exercised within the period of 18 months from the date of issue of warrants. These shares issued will be subject to lock-in as applicable.
Consequent upon the said allotment, the paid-up capital of the Company stands increased to 3,18,51,257 fully paid-up equity shares of Rs 10/- each.
Himadri Chemicals & Industries Ltd has informed BSE that the Company will publish the audited financial results instead of un-audited, for the last quarter of the financial year ended on March 31, 2008, within three months from the end of the quarter. Therefore, the Company will not publish the un-audited results for the quarter ended March 31, 2008.
Himadri Chemicals & Industries Ltd has informed BSE that the Members of the Company by way of postal ballot have approved the Ordinary Resolutions with requisite majority, relating to the increase in Authorized Capital existing from Rs 35,00,00,000/- (Rupees Thirty Five Crores) To Rs 40,00,00,000/- and consequential alteration in the Capital Clause of the Memorandum of Association of the Company.