With reference to the earlier announcement and the Notice for convening an Extraordinary General Meeting (EGM) of the Company on January 22, 2010, regarding Issuance of 2,000,000 Warrants of the face value of Rs. 867/- each to the promoter group of Max India Ltd, on preferential allotment basis, Max India Ltd has now informed BSE that the Board of Directors since approved issuance of 2,000,000 (Two million) warrants of the face value of Rs. 867/- per warrant (with each warrant entitling the holder thereof to subscribe to four equity shares of Rs. 2/- each in the Capital of the Company at a premium of Rs. 214.75 per equity share) aggregating to an issue price of Rs. 1734 million (Rupees One thousand seven hundred and thirty four million) to Dynavest India Pvt. Ltd., one of the promoter group Companies in place of Mr. Analjit Singh. The aforesaid amendment to resolution at item No. 2 of the Notice will be proposed at the EGM for consideration of the shareholders. Accordingly, the references to the proposed allottee wherever appearing in the Explanatory Statement to aforesaid EGM Notice be read as Dynavest India Pvt. Ltd. in place of Mr. Analjit Singh. The Board of Directors has further authorised officials of the Company to issue necessary corrigendum on the aforesaid for the information of the public / members of the Company in newspapers. Further the Company has noted that, Dynavest India Pvt. Ltd. has been holding 1,83,500 equity shares of Rs. 2/- each of the Company as of the Relevant Date, i.e., December 23, 2009 and continue to hold the same and is in compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.
Source: BSECourtesy moneycontrol.com
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