Logix Microsystems seeks EGM approval for increase in share capital, issue of securities

Logix Microsystems Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on January 06, 2007, inter alia, to transact the following business:

1. Increase in the Authorised Share Capital of the Company from Rs 10,00,00,000/- divided into 1,00,00,000 Equity Shares of Rs 10/- each to Rs 13,20,00,000/- divided into 1,32,00,000 Equity Shares of Rs 10/- each & consequential amendment in the Memorandum of the Association of the Company.

2. To increase the ceiling limit on total holdings of Foreign Institutional Investors (FII) / Securities and Exchange Board of India (SEBI) approved sub-accounts of FIIs in the Equity Share Capital of the Company from 49% to 74% of the paid up Equity Capital of the Company with effect from such date(s) as may be decided by the Board from time to time, subject to necessary provisions & approvals.

3. To issue, offer and allot, in the course of an offering to, or by way of private placement with eligible investors including Qualified Institutional Buyers under the Guidelines (whether or not such investors are members of the Company), Foreign Currency Convertible Bonds / Global Depository Receipts, American Depository Shares / Convertible Debentures / Convertible Instruments / Equity Share Warrants / Equity Shares of the Company, par value Rs 10 per share (Securities), up to an aggregate of Rs 125 crores, including any green shoe option in relation thereto, subject to necessary provisions & approvals.

Source : Equity Bulls

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