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IOL Chemicals And Pharmaceuticals Limited, Punjab

IOL Chemicals And Pharmaceuticals Limited, Punjab

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20th June 2014
OUTCOME OF THE EXTRA-ORDINARY GENERAL MEETING OF THE COMPANY

An Extraordinary General meeting of members was held today June 20,2014 at Barnala and following ordinary and special business have been approved by the members with requisite majority by e-voting and poll: 1) Increasing the Authorized Share capital of the Company from 54,00,00,000/- divided into 2,20,00,000 Preference shares of 10/- each and 3,20,00,000 Equity Shares of 10/- each to 80,00,00,000/- divided into 2,20,00,000 Preference Shares of 10/- each and 5,80,00,000 Equity Shares of 10/- each. 2) Amending Clause V of Memorandum of Association of the Company effecting increase in Authorised Share Capital of the Company 3) Redeem the 1,50,10,000 1% Non Cumulative Redeemable Preference Shares issued to the promoter group companies and 50,00,000, 7% Non Cumulative Redeemable reference Shares issued to non promoter company by issuing, offering and allotting equity shares of the company of face value of 10/- each at a premium of 18/- per share or at a price as determined in accordance with the SEBI (ICDR) Regulations which ever is higher 4) Issue 42,50,000 equity share of face value of 10/- each at a premium of 18/- per share or at price as determined in accordance with the SEBI (ICDR) Regulations which ever is higher and 1,10,00,000 warrants with an option to subscribe to an equity share of face value of 10 at a premium of 18/- per share or at a price as determined in accordance with the SEBI (ICDR) Regulations which ever is higher for each warrant to non promoters with in the period of eighteen months from the date of allotment of warrants.






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