Tyche Peripheral to issue securities

Tyche Peripheral Systems Ltd has announced that the Board of Directors of the Company at its meeting held on October 19, 2007, inter alia, has approved the following:

1. The Share Holders' Agreement signed by the Company and Promoters of the Company with Oriental Holdings Ltd, to be effective after the resolutions through Postal Ballot are approved by the Share Holders of the Company. Consequential changes that may result in the management and control of the Company and induction of Oriental Holdings Ltd as Co—Promoter was also noted.

2. To consider issue of 2,50,00,000 Warrants convertible into equivalent number of Equity Shares of Rs 10/- each (at a price determined as per SEBI (DIP) Guidelines) to Oriental Holdings Ltd and to pass a special resolution by way of Postal Ballot approving induction of Oriental Holding Ltd as Promoter.

3. To consider issue of 30,00,000 Warrants convertible into equivalent number of Equity Shares of Rs 10/— each to the Promoter Group (in accordance with SEBI (DIP) Guidelines) as per the details given below:

a. Rabadi Chit Fund and Finance (P) Ltd - No of Warrants - 10,00,000
b. Greeshma Chemicals (P) Ltd - No of Warrants - 10,00,000
c. Hemant Fin-tech (P) Ltd - No of Warrants - 10,00,000

4. To increase the Authorised Capital of the Company from Rs 20 Crores to Rs 50 Crores.

5. To consider to offer, issue and allot in the International Market, Global Depository Receipts (GDRs) and / or Foreign Currency Convertible Bonds (FCCBs) / Euro Bonds etc. for an aggregate amount not exceeding US $ 25 Million.

Source : Equity Bulls

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