Lakeland Hotels seeks EGM approval for name change, issue of securities

Lakeland Hotels Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on January 25, 2007, inter alia, to transact the following:

1. Increase the authorized share capital of the Company from Rs 12,00,00,000/- divided into 1,20,00,000 Equity share of Rs 10/- each to Rs 25,00,00,000 divided into 2,50,00,000 Equity share of Rs 10/- each and consequential amendments in the Memorandum of Association of the Company.

2. Authority to the Board to create, offer, issue and allot upto 60,00,000 Warrants carrying a right to subscribe to equal number of equity shares in the Company (Warrants), subject to necessary provisions & approvals, to;

1. M/s Western Tobacco Pvt Ltd.
2. M/s Reliable Cigeratte & Tobacco Industries Pvt Ltd.
3. M/s Jyoti Bright Bar Ltd.
4. M/s New Tree Trading Co Pvt Ltd.
5. M/s Upasara Resources Pvt Ltd.
6. M/s Gagan Finvest Ltd.
7. M/s Balwas Investment Pvt Ltd.
8. M/s Gee Reality Pvt Ltd.
9. M/s Ritedel Mercantile Company Pvt Ltd.
10. Ms Mellinium Vyappar Pvt Ltd.
11. M/s Intercontinental Corporation Ltd.
12. M/s United Print Tech India Pvt Ltd.
13. M/s Chirag Builders Pvt Ltd.
14. Mr Sikandar Hafiz Khan.
15. Mr Farhan Khan.
16. Mr S P Tulisiyan.
17. Mr Sanjay Jindal.
18. Smt Sarifa Bano.
19. Smt Asha Chadha.
20. Smt Subha Chadha.

3. Authority to the Board to reissue / offer and allot 9,69,000 equity share of Rs 10 each which were previously forfeited by the Company, for Rs 81.50/- each including a premium of Rs 71.50/- per share to M/s Millenium Vyappar Pvt Ltd and M/s Jayant Products Ltd on preferential basis, subject to necessary provisions & approvals.

4. Change the name of the Company from "Lakeland Hotels Ltd" to "Reliable Ventures India Ltd" and consequential amendments in the Memorandum of Association of the Company.

Source : Equity Bulls

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