Archies EGM approves issue of shares, warrants

Archies Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 19, 2007, inter alia, have accorded to the following:

1. Authority to the Board, to create, offer, issue and allot, 2,50,000 equity shares of face value of Rs 10/- each at a premium of Rs 149.50, amounting to Rs 159.50 per share, on preferential basis to Bennett Coleman & Co. Ltd, which is in the price, not being less than the price arrived at in accordance with provision of Chapter XIII of the SEBI Disclosure of Investor Protection Guidelines, 2000 (SEBI (DIP) Guidelines), subject to necessary provisions and approvals.

2. Authority to the Board to create, offer, issue and allot, in one or more tranches, from time to time, 5,00,000 Warrants convertible into equity shares of face value of Rs 10/- each at a premium of Rs 149.50, amounting to Rs 159.50 per share, on preferential basis to Other Entities, which is the price, not being less than the price arrived at in accordance with provision of Chapter XIII of the SEBI Disclosure of Investor Protection Guidelines, 2000 (SEBI (DIP) Guidelines), subject to necessary provisions and approvals.

3. Authority to the Board to create, offer, issue and allot, in one or more trenches, from time to time, 5,00,000 Warrants convertible into equity shares of face value of Rs 10/- each at a premium of 149.50, amounting to Rs 159.50 per share, on preferential basic to Promoters / Promoter Group, which is the price, not being less than the price arrived at in accordance with provision of Chapter XIII of the SEBI Disclosure of Investor Protection Guidelines, 2000 (SEBI (DIP) Guidelines), subject to necessary provisions and approvals.

Source : Equity Bulls

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