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IOL Chemicals And Pharmaceuticals Limited, Punjab

IOL Chemicals And Pharmaceuticals Limited, Punjab

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9th January 2010

The members of the Company in its Extra-ordinary General Meeting held on January 9, 2010 at the Registered office of the Company, Trident Complex, Raikot Road, Barnala, have approved the following matters by way of passing the ordinary/special resolutions unanimously: 1. Increase in the Authorised Share Capital of the Company from 30 crores to 35 crores & consequent amendment in the Memorandum and Articles of Association of the Company 2. Issue of 15,00,000 (Fifteen lac) equity shares of face value of 10/- each at a premium of 46/- per share aggregating to 8,40,00,000 (Rupees eight crore forty lac only) to NM Merchantiles Limited, Promoters/ Promoters Companies. 3. Issue of 30,00,000 (Thirty lac) warrants, carrying the option to the holders of such warrants to subscribe to one equity share of face value of 10/- at premium of 46/- per share for every warrant held, within a period of 18 months from the date of allotment of the warrants, to the following Promoters/ Promoters Companies, on preferential basis in accordance with the applicable laws. a) 10,00,000 (ten lac) warrants to NM Merchantiles Limited b) 10,00,000 (ten lac) warrants to NCG Enterprises Limited c) 10,00,000 (ten lac) warrants to IOL Lifesciences Limited.

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