Suryachakra Power Outcome Of EGM (07-Feb-2010)
Suryachakra Power Corporation Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 30, 2010, inter alia, have accorded to issue, offer and allot in international offerings any security including, Global Depository Receipts (GDRs) and / or American Depository Receipts (ADRs) convertible into equity shares (securities) for an aggregate sum of up to US $100 million or equivalent in Indian / or any other currency(ies) with such premium as may be appropriate, directly to foreign / non-resident investors (where the institutions, bodies-corporate, mutual funds, trusts, foreign institutional investors, banks and / or individuals or otherwise and whether or not such investors are members, promoters, Directors or their relatives / associates, of the Company) without first offering to the existing shareholders, through public issues, private placements or a combination thereof at such time or times in such tranche or tranches at such price or prices, at such premium as may be appropriate to market price or prices in such manner and on such terms and condition as may be decided by the Board, wherever necessary in consultation with the lead managers, underwriters, advisors or through the subsidiaries, including by way of the initial public offer in European, US or other countries, so as to enable the Company to get listed at any stock exchanges in India and / or outside India, subject to necessary provisions & approvals.
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