Kaashyap Technologies EGM approves issue of 2,00,00,000 warrants

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

1. Authority to the Board to issue, offer and allot Equity Shares on preferential basis upto 2,00,00,000 equity shares of the face value of Re 1/- each for an aggregate amount upto Rs 8,00,00,000 at the price of Rs 4 per share to the following:

1. Mrs. Usha Venkatramani (Promoter): 75,00,000 equity shares
2. Mr. A Ganesan (Director): 25,00,000 equity shares
3. Mrs. Revathi: 25,00,000 equity shares
4. Mr. Rajeev Agarwal: 25,00,000 equity shares
5. M/s. Real Fintech P Ltd: 50,00,000 equity shares

in one or more tranches, and upon such terms and conditions as may be deemed appropriate by the Board at its absolute discretion.

2. Authority to the Board to create, offer, issue and allot warrants on a preferential basis to Mrs. Usha Venkatramani (Promoter) 2,25,00,000 warrants, Mr. A Ganesan (Non-Executive Director) - 75,00,000 warrants, Ms. Revathi - 75,00,000 warrants, Mr. Rajeev Agarwal - 75,00,000 warrants, Ms. Annapurna - 25,00,000 warrants, M/s. Real Fintech P Ltd - 1,50,00,000 warrants, M/s. Taib Securities Mauritus Ltd - 1,25,00,000 warrants, ("Warrant Holders") with each warrant convertible into one equity share of the Company of nominal value of Rs 1/- each at a premium of Rs 3.00 so that the total number of equity shares to be issued by the Company upon conversion of the Warrants does not exceed 7,50,00,000 equity shares, on such terms and conditions as may be decided and deemed appropriate by the Board of Directors of the Company ("Board") at the time of issue or allotment, subject to necessary provision & approvals.

Source : Equity Bulls

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