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Stake Sale
Radha Madhav EGM approves preference shares issue, warrants
Posted On : 2007-04-09 11:19:01( TIMEZONE : IST )
The members at the Extra Ordinary General Meeting (EGM) of Radha Madhav Corporation Ltd held on April 07, 2007, inter alia, have approved the cancellation of Rs 6,00,00,000/- divided into 60,00,000 Equity shares of Rs 10/- each of the Company, lying un-issued in the Authorised Shares Capital of the Company be diminished from Rs 27,50,00,000/- divided into 2,75,00,000 Equity shares of Rs 10/- each to Rs 21,50,00,000/- divided into 2,15,00,000 Equity shares of Rs 10/- each, subject to necessary provisions and approvals and consequential amendments in the Memorandum & Articles of Association of the Company.
The company received approval for the issue of convertible preference shares of 3490400 to Deutsche Securities Mauritius Ltd and 2094240 to Concordia Asia Pacific Multi Strategy Fund. These shares of face value of Rs 10 each providing holder thereof to convert one such Preference Shares into one fully paid up equity shares at a subscription price of Rs 62.50 per Equity share (inclusive of premium of Rs 52.50 per Equity Share, or at price as may be mutually agreed but not less than price calculated as per SEBI DIP Guidelines.
Authority to the Board to offer, issue and allot 1000000 Equity shares to India Star (Mauritius) Ltd of face value of Rs 10 each at a subscription price of Rs 62.50 per Equity share (inclusive of premium of Rs 52.50 per Equity Share, or at price as may be mutually agreed but not less than price calculated as per SEBI DIP Guidelines.
The Board was authorised to issue and allot 15,00,000 warrants to the promoters as hereinafter
Name of Promoters
i. Anil Agrawal - 500000 (No of Warrants)
ii. Mitesh Agrawal - 500000 (No of Warrants)
iii. Abhishek Agrawal - 500000 (No of Warrants) providing holder of warrant entitlement of one fully paid up equity shares for one warrant at a subscription price of Rs 62.50/- per Equity share (inclusive of premium of Rs 52.50/- per Equity Share, or at price as may be mutually agreed but not less than price calculated as per DIP Guidelines.
