SPECIAL MARGIN
Kaashyap Radiant Systems: The BSE has informed members of the exchange that a special margin of 25 per cent has been imposed on Kaashyap Radiant Systems with effect from September 12, 2002. Special margin will be imposed on the basis of memberwise gross outstanding purchase or sale position (clientwise net).
TRADING SUSPENSION
BSE has informed the members of the exchange that the undermentioned companies have not complied with Clause 16 of listing agreement regarding intimation of their book closure/record dates for the purpose of dividend/ interim dividend as required under the listing agreement. Therefore members may note that the trading in the equity shares of the said companies will be suspended with effect from September 23, 2002 to September 25, 2002 (both days inclusive). The companies are Dutron Polymers Ltd, J J Exporters Ltd, Remi Process, Plant & Machinery Ltd and Vidhi Dyestuffs Manufacturing Ltd.
AMALGAMATIONS
Anil Modi Oil Industries: The company has informed that the high court of Delhi has approved the merger of Neha Oils Ltd with the company in the ratio of three shares of the company for every four shares held in Neha Oil Ltd.
PACTS
Kaashyap Radiant Systems: United National Film Corporation (UNFC), California has entered into advance stage of finalisation for an order of $2.5 million to produce computer graphics special effects and related software services with the company. UNFC will also be taking a 40 per cent stake in the company subject to compliance of all formalities with FIPB, RBI and SEBI. It has completed due diligence and will be making open offer as part of the acquisition as per SEBI and other statutory norms. Further, the company has completed 25 per cent of the work of the order from the alpha energy division and posted a revenue of Rs 35 crore. Another project in the pipeline is the 40 MW bio-mass project in Andhra Pradesh, which is to be taken up close on the heels of completing the first job in the next 12 months.
Bharti Telesoft: The software venture of Bharti Enterprises has achieved significant customer wins in Sri Lanka & India for its innovative solutions that result in dramatic cost savings and convenience benefits to roaming cellular subscribers. These solutions are based on the world class stacks developed by Hughes Software Systems (HSS).
Hughes Software Systems: The software company on September 11, 2002 announced its support for the Intelr Internet Exchange Architecture (Intelr IXA) Developer Network. HSS will participate in the Intel IXA Developer program by offering its broadband, and wireless next generation portfolio of service offerings for seamless integration, interoperability and custom development on the Intel IXP development platforms.
PREFERENTIAL ALLOTMENTS
Matrix Laboratories: The next meeting of the board will be held on September 19, 2002 to consider the preferential allotment of equity shares of the company.
Harita Finance: The company has informed that at the AGM on 08.08.2002 the shareholders approved the increase in authorised share capital of the company from Rs 20 crore to Rs 74 crore consisting of Rs 42 crore equity shares and Rs 32 crore preference shares. Shareholders also okayed the offer of 28340000 equity shares of Rs 10 each for cash at par to promoter group companies on preferential allotment basis. They also approved the issue of 30310000 9 per cent non cumulative non convertible redeemable preference shares of Rs 10 each, for cash at par be issued on private placement basis to the promoter group companies. They okayed the delist the equity shares of the company from the stock exchange at Mumbai and Chennai upon the shareholding of the public being reduced to 10 per cent or less of the equity share capital of the company. They also approved the change in the name of the company to TVS Finance and Services Ltd.
ESOP PLANS
Credit Rating Information Services of India: In the meeting of the allotment committee of directors held on September 12, 2002, 34,300 equity shares of Rs 10 each of the company have been allotted to directors/ employees pursuant to their exercising the stock options granted by them under the Employees Stock Option Scheme (ESOP) of the company. The shares have been issued at a price of Rs 105.55 per share.
Digital Globalsoft: The company has informed that the HR committee of the board has approved 22500 stock options to be granted to its directors under the Employee Stock Option Plan as on 22.07.2002.
INSIDER TRADING NOTICES
Chowgule Steamships: In terms of regulation of Sebi, prohibition of insider trading, the company has been informed by Vijay V Chowgule, chairman of the company, that he has purchased 24949 shares on or around 06.09.2002. After this purchase his shareholding is 573422 (1.579 per cent) equity shares of the company.
HB Estate Developers: In terms of regulation 13(4) & 13(5) of Sebi, (insider trading regulations), the company has informed that H C Bhasin, chairman of the company, has acquired 24795 equity shares of the company on 07.09.2002. His shareholding after acquisition is 2263699 shares.
HB Portfolio: In terms of regulation 13(4) & 13(5) of Sebi, (insider trading regulations), the company has informed that HC Bhasin, chairman of the company, has acquired 25020 equity shares of the company on 07.09.2002. His shareholding after acquisition is 2257328 shares.
HB Stockholdings: In terms of regulation 13(4) & 13(5) of Sebi, (insider trading regulations) the company has informed that HC Bhasin, chairman of the company, has acquired 59532 equity shares of the company on 07.09.2002. His shareholding after acquisition is 5242252 shares.
Varun Shipping Co: In terms of regulation 13(6) of Sebi, (prohibition of insider trading) regulations 1992, the company has informed that Arun Mehta, vice-chairman and managing director of the company, has purchased 175000 equity shares on 06.09.2002. After this purchase his shareholding is 1535942 equity shares in the company.
SB&T International Ltd: In terms of regulation 6.2.1 of Sebi, prohibition of insider trading regulation, 1992, the company has informed that DBMGOF Mauritius Ltd is holding 1216000 (9 per cent) shares of the company.
NOTICES UNDER TAKEOVER CODE
Crompton Greaves: In terms of regulation 7(3) of SEBI, (substantial acquisition of shares and takeovers) regulations 1997, the company has informed that the shareholding of B M Thapar is 15257362 (29.14 per cent), M/s English Indian Clays(a BM Thapar Group co) 1050000 (2 per cent) and M/s Bilt Chemicals (a BM Thapar Group co) 429298 (0.82 per cent) shares.
STOCK SPLITS
Goyal Associates: The board at its meeting held on 19.08.2002 has approved the stock split of equity shares from Rs 10 to Re 1 each, subject to necessary approval. The AGM will be held on 24.09.2002.
