Agro Dutch EGM approves issue of warrants

Agro Dutch Industries Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 20, 2006, inter alia, have accorded to the following:

1. Approval of increase in authorised share capital from Rs 40.00 crores to Rs 80.0O crores.

2. Approval of the amendment in Sub Clause 1, clause V of the Memorandum of Association of the company.

3. Approval in amendment in the Sub Clause (i) of the Article 5 of the Association of the company by way of increase in authority equity shares capital.

4. Approval of resolution as proposed under section 81(1A) and other applicable provision of the Companies Act regarding allotment of 1.00 crore convertible warrants of Rs 10.00 each for cash at a premium of Rs 17.50 per warrant to the promoters / promoters group convertible into 1.00 crore equity shares of Rs 10.00 each for cash at a premium of Rs 17.50 per share aggregating to Rs 27.50 crores within eighteen months from the date of allotment.

Source : Equity Bulls

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