Sujana Universal EGM on Oct 18, 2006 to consider issue of shares

Sujana Universal Industries Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on October 18, 2006, inter alia, to transact the following:

1. Increase in the Authorized Share Capital of the Company from Rs 80,00,00,000/- divided into 5,50,00,000 Equity Shares of Rs 10/- each and 25,00,000 Preference Shares of Rs 100/- each to Rs 110,00,00,000 divided into 8,50,00,000 Equity Shares of Rs 10/- each and 25,00,000 Preference Shares of Rs 100/- each by further creation of 3,00,00,000 Equity shares of Rs 10/-, subject to necessary provisions & approvals.

2. Authority to the Board to create, issue, offer or allot either at par or at premium (issue price being not less than the price as arrived at), in accordance with the terms of Chapter XIII of SEBI (Disclosure and Investor Protection) Guidelines, 2000, either in for cash or for consideration other than cash or in satisfaction of a genuine debt, as may be deemed most appropriate by the Board, equity shares and/or convertible warrants (fully or partly) and/or, all or any of the aforesaid with or without detachable or non-detachable warrants and/or warrants of any nature and/or secured premium notes, and/or Floating Rate Notes/Bonds and/or any other financial instruments (Securities) to be subscribed either in rupees/foreign currency(ies) as the Board at its sole discretion may at any time or times (hereinafter decide which Securities when issued or allotted would ultimately result in an increase in the paid up equity share capital of the Company upto an amount not exceeding Rs 6.30 Crores in addition to the existing paid up capital of Rs 48.16 Crores, subject to necessary provisions & approvals.

3. Authority to the Board to issue / offer and allot Equity Shares / Preference Shares / Convertible notes / Securities with or without detachable warrants / Fully Convertible Debentures (FCDs) / Partly Convertible Debentures (PCDs) or any securities convertible into Equity Shares whether optionally or otherwise / Euro Convertible Bonds (ECBs) / Foreign Currency Convertible Bonds (FCCBs) / Global Depository Receipts (GDRs) / American Depository Receipts (ADRs) / Secured Premium Notes (SPN), ("Securities" ) for an aggregate amount not exceeding US $ 15.00 Million ( with permissible green shoe option) or equivalent in Indian and/or any other Currency(ies) (inclusive of such premium as may be fixed on such Equity Shares) or upon such limit as may be permitted by the Ministry of Finance or such other Authorities whichever is higher directly to Indian or Foreign Investors (whether institutions, incorporated bodies, mutual funds and / or individuals or otherwise and whether or not such investors are members, promoters, directors or their associates of the Company) through Public Issue(s), Right Issue(s); Private Placement(s), Preferential Allotment for cash or stock swap or acquisition of business / companies or a combination thereof at such time or times and in such trenches, at such price or prices, at a discount or premium on market price or prices in such manner and on such terms and conditions including security, rate of interest etc. as may be decided and deemed appropriate by the Board at the time of such issue or allotment considering the prevailing market conditions and other relevant factors whichever necessary in consultation with the Lead Managers and Underwriters or through the subsidiaries, so as to enable the Company to get Listed at Indian Stock Exchanges and Overseas Stock Exchanges such as Singapore, Luxembourg, London, Nasdaq and / or New York Stock Exchange and / or any other Overseas Stock Exchanges, subject to necessary provisions & approvals.

Source : Equity Bulls

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