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Mercator in the News
Outcome of the Board meeting held on 20th December, 2005 :
This is to inform you that the Board of Directors of the Company; in its meeting held on 20th December, 2005 has, interalia, approved following matters:
- Issue of Bonus Shares in the proportion of 3 new equity shares for every 2 existing equity shares of the Company,
- Issue of securities by Public/Private Offering in the Domestic and/or International Markets, in the form of ADR/GDRs/Bond/Equity
Shares or in any other form for an aggregate amount not exceeding USD 75 millions or equivalent amount in any currency;
- Issue of 80,00,000 warrants carrying entitlement / option to apply for equal number of equity shares, on preferential
basis to the Promoter’s group /associate Company viz. AHM Investments Pvt. Ltd., in accordance with SEBI Guidelines for preferential issue;
- Increase in the limit of investment by FIIs upto 70% of the paid-up equity share Capital / Securities of the Company;
- Increase in Authorised Equity Share Capital of the Company from Rs. 25 crores to Rs. 35 crores by creating additional 10,00,00,000 Equity Shares of Re. 1/- each; and
- Convening of Extra Ordinary General Meeting of the Members of the Company on 17th January, 2006, to seek approval of the members for the above matters.
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