Javelin Technologies EGM approves issue of securities

Javelin Technologies Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 31, 2007, inter alia, have approved the increase of the Authorized capital of the company from the existing Rs 7 Crores to Rs 12 crores Comprising of 1,20,00,000 equity share of Rs 10 each.

Issue of 7,00,000 equity shares of Rs 10/- each Fully paid up as below towards acquisition of 3,45,000 equity shares of Rs 10 each Fully paid held by them in LABCAL BIOMETRIC TECHNOLOGIES PVT LTD Hyderabad : (i) Mr. B Ashok Kumar : 3,50,000 No of Equity Shares of Rs 10/- each, (ii) Mr. P Vinod Kumar : 3,50,000 No of Equity Shares of Rs 10/- each.

Issue of 7,00,000 equity shares of Rs 10/- each folly paid up as follow towards full and final settlement of dues payable to the by LABCAL BIOMETRIC TECHNOLOGIES PVT LTD - (i) Mr. D Jogesh : 3,50,000 No of Equity Shares of Rs 10/- each, (ii) Mr. J Srinivasa Rao : 3,50,000 No of Equity Shares of Rs 10/- each.

Issue of 47,25,000 warrants convertible into equal number of equity shares of Rs 10/- to the following persons at a price of Rs 23/- per share as per SEBI regulations on pricing of warrants :

1. Mrs. Hemamalini Namuduri : 7,00,000 Number of Warrants
2. Mrs. Pandrangi Nirmala Devi : 5,00,000 Number of Warrants
3. M/s. A V Artinvest Pvt Ltd : 3,00,000 Number of Warrants
4. M/s. Anklikar Securities Pvt Ltd : 3,00,000 Number of Warrants
5. M/s. C-Trade Broking Pvt Ltd : 3,00,000 Number of Warrants
6. Mr. Nampally Anand Kumar : 3,50,000 Number of Warrants
7. Naveen Yelloji : 5,00,000 Number of Warrants
8. Mr. Srinivasa Reddy Bommareddy : 2,50,000 Number of Warrants
9. Mr. Lakshmi Bommareddy : 2,50,000 Number of Warrants
10. Mr. Basavaraju Sudhakar Babu : 2,50,000 Number of Warrants
11. Mr. Akella Narasimha Sarma : 2,25,000 Number of Warrants
12. Mr. Madishetty Srinivas : 2,50,000 Number of Warrants
13. Mr. Valasingam Krishna : 2,50,000 Number of Warrants
14. Mrs. Prabha Vijayvargiya : 1,00,000 Number of Warrants
15. Mr. Santosh Vijayvargiya : 1,00,000 Number of Warrants
16. Mrs. Monica Jalota : 1,00,000 Number of Warrants

Source : Equity Bulls

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