Sanwaria Agro seeks EGM approval to issue shares

Sanwaria Agro Oils Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on December 18, 2006, inter alia, to transact the following:

1. To offer, issue and allot either in India or in the course of international offering(s) in one or more foreign markets, such number of Global Depository Receipts (GDRs), American Depository Receipts (ADRs), Foreign Currency Convertible Bonds (FCCBs) and / or Equity Shares (through Depository Receipt Mechanism) and / or any other Financial Instruments convertible into Equity Shares or otherwise, in registered or bearer form and / or any security convertible into Equity Shares, securities linked to Equity Shares and / or securities with or without detachable warrants with right exercisable by the warrant holders to convert or subscribe to Equity Shares (Securities) or any combination of Securities, in one or more tranches, whether rupee denominated or denominated in foreign currency, to any person, including foreign / resident investors (whether institutions, incorporated bodies, mutual hinds, individuals or otherwise), Foreign Institutional Investors, Indian and / or Multilateral Financial Institutions, Mutual Funds, Banks, Insurance Companies, Pension Funds, Non-Resident Indians and / or any other categories of investors, whether they be holders of shares of the Company or not (Investors) through public issue(s) of prospectus, private placement(s) or a combination thereof at such time or times, at such price or prices, at a discount or premium to market price or prices in such manner and on such terms and conditions including security, rate of interest etc. as may be deemed appropriate by the Board at its absolute discretion including the discretion to determine the categories of Investors to whom the offer, issue and allotment shall be made to the exclusion of all other categories of Investors at the time of such offer, issue and allotment considering the prevailing market conditions and other relevant factors and wherever necessary in consultation, with Lead Managers, upto an amount not exceeding US $ 25 million inclusive of such premium as the Board at its absolute discretion may deem fit and appropriate, subject to necessary provisions & approvals.

2. To borrow money from time to time for the purpose of the Company's Business up to a limit not exceeding in the aggregate Rs 250.00 Crores notwithstanding that the moneys to be so borrowed together with moneys already borrowed by the Company, if any (apart from temporary loans obtained from Company's bankers in the ordinary course of the business) may exceed the aggregate, for the time being, of the paid up capital of the Company and its free reserves, if any, that is to say, reserves not set apart for any specific purpose, subject to necessary provisions & approvals.

Source : Equity Bulls

Keywords