Visagar Polytex Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 25, 2008, inter alia, have accorded the following:
1. Increase the Authorised Share Capital of the Company from 12500000/- to 50000000/- divided into 5000000 Equity Share of Rs 10/- each and consequential amendments in the Memorandum & Articles of Association of the Company.
2. To the issue of Equity Shares for an amount not exceeding Rs 3,72,00,000/- to be offered to the shareholders and / or to such persons whether shareholders of the Company or not as the Board of Directors of the Company may in their absolute discretion deem fit, subject to necessary provisions & approvals.
3. Issue 3720000 Equity Shares of Rs 10/- each in the Share Capital of the Company, be and are hereby issued to the persons who at the record date of the offer are holders of the equity shares of the Company in proportion of 5 equity shares for every 1 equity share held on the aforesaid date on the following terms & conditions.
(i) That the Rs 15/- (including Share premium of Rs 5/) per Equity Share will be payable in two installments: - 50% on application and 50% on allotment. (For more details kindly refer Corporate Announcement on www.bseindia.com).
1. Increase the Authorised Share Capital of the Company from 12500000/- to 50000000/- divided into 5000000 Equity Share of Rs 10/- each and consequential amendments in the Memorandum & Articles of Association of the Company.
2. To the issue of Equity Shares for an amount not exceeding Rs 3,72,00,000/- to be offered to the shareholders and / or to such persons whether shareholders of the Company or not as the Board of Directors of the Company may in their absolute discretion deem fit, subject to necessary provisions & approvals.
3. Issue 3720000 Equity Shares of Rs 10/- each in the Share Capital of the Company, be and are hereby issued to the persons who at the record date of the offer are holders of the equity shares of the Company in proportion of 5 equity shares for every 1 equity share held on the aforesaid date on the following terms & conditions.
(i) That the Rs 15/- (including Share premium of Rs 5/) per Equity Share will be payable in two installments: - 50% on application and 50% on allotment. (For more details kindly refer Corporate Announcement on www.bseindia.com).
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