Supreme Infrastructure India Ltd has announced that now the Board of Directors of the Company has decided to change the manner of obtaining approval of the members though call an Extra Ordinary General Meeting instead of obtaining the same through postal ballot for the fund raising proposals which were approved by the Board of Director in its meeting held on May 26, 2009 and adjourned and concluded on May 27, 2009.
The Board will seek approval to increase authorised share capital from Rs 15,00,00,000 to Rs 20,00,00,000 by creation of 30,00,000 (Thirtee Lacs) Equity Shares of Rs 10 (Rupees Ten Only) each and 20,00,000 (Twenty Lacs) Preference shares of Rs 10 each.
To alter Articles of Association to give effect of enhancement of share capital and issue of convertible warrants.
The Board accorded its consent to issue 20,00,000 convertible warrants on preferential basis of Rs 10/- each at a price shall not be less than price as determined under the Guidelines for Preferential issues contained in Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 to the Promoter, Promoter Group and other domestic/foreign investors and/or bodies corporate.
A director of the Company or Company Secretary of the Company authorised to call Extraordinary General Meeting as per Companies Act 1956 and Rules issued there under.
Further the Company has informed that, the Board of Directors has also decided the date, time and place of the Extra Ordinary General Meeting of the Company on June 26, 2009.
The stock was trading at Rs.72.35, up by Rs.3.40 or 4.93%. The stock hit an intraday high of Rs.72.35 and low of Rs.72.35.
The total traded quantity was 2305 compared to 2 week average of 18741.
Source:EquityBulls