International Hometex Updates on ensuing EGM on Mar 15, 2007

International Hometex Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on March 15, 2007, inter alia, to transact the following:

1. Increase in the Authorised Share Capital of the Company from Rs 26,50,00,000 divided into 1,82,50,000 Equity Shares of Rs 10/- each and 82,50,000 Preference Shares of Rs 10/- each to Rs 32,25,00,000/- divided into 2,40,00,000 Equity shares of Rs 10/- each and 82,50,000 preference shares of Rs 10/- each and consequential amendments in the Memorandum of Association of the Company.

2. To offer issue & allot, in one or more tranches, on a preferential basis, upto 23,80,000 Equity Shares of Rs 10/- each to the following investors ("the Investors") at a price of Rs 20/- per equity share (including a premium of Rs 10/- per equity share) and on such other terms and conditions that the Board may deem appropriate in its absolute discretion, subject to necessary provisions & approvals.

a. KBS Trading Pvt Ltd: 10,00,000 (Maximum no of shares proposed to be issued)
b. Prime Securities Ltd: 5,00,000 (Maximum no of shares proposed to be issued)
c. Nebule Software Pvt Ltd: 3,75,000 (Maximum no of shares proposed to be issued)
d. Kamal Nayan Saraogi: 2,50,000 (Maximum no of shares proposed to be issued)
e. Nayaneshbhai Kantilal Patel: 1,25,000 (Maximum no of shares proposed to be issued)
f. Shilpa J Chhajed: 50,000 (Maximum no of shares proposed to be issued)
g. Seema R Chhajed: 40,000 (Maximum no of shares proposed to be issued)
h. Vimal B Chhajed: 30,000 (Maximum no of shares proposed to be issued)
i. Babulal C Chhajed: 10,000 (Maximum no of shares proposed to be issued)

3. To offer, issue and allot, in one or more tranches, on a preferential basis, upto 11,94,650 Equity Shares of Rs 10/- each to Trimbak Power Company Ltd, an entity belonging to the promoter group, at a price of Rs 20/- per equity share (including a premium of Rs 10/- per equity share) and on such other terms & conditions that the Board might deem appropriate in its absolute discretion, subject to necessary provisions & approvals.

4. To offer, issue & allot, in one or more tranches, on a preferential basis, upto 20,00,000 Equity Share Warrants ("Warrants"), carrying an entitlement to subscribe to an equivalent number of equity shares of Rs 10/- each at a price of Rs 20/- per Equity Share (including a premium of Rs 10/- per Equity Share) to Trimbak Power Company Ltd, an entity belonging to the promoter group and on such other terms & conditions, as the Board may deem appropriate in its absolute discretion, subject to necessary provisions & approvals.

Source : Equity Bulls

Keywords