At meeting held on 20 January 2015
SVP Global Ventures announced that the Board of Directors of the Company at its meeting held on 20 January 2015, has considered, approved and recommended for approval of members:1. Increase in Authorised share capital from Rs. 5,00,00,000/- (Rupees Five crore only) consisting of Rs. 3,50,00,000/- (Rupees Three crore Fifty Lacs only) divided into 35,00,000 (Thirty Five Lacs) Equity Shares of Rs. 10/- (Rupees Ten only) each and 15,00,000 (Fifteen Lacs) 5% Redeemable Preference Shares of Rs. 10/- (Rupees Ten only) each to Rs. 15,00,00,000/- (Rupees Fifteen crores only) consisting of Rs. 12,75,00,000/ (Rupees Twelve crore Seventy Five Lacs only) divided into 1,27,50,000 (One Crore Twenty Seven Lacs Fifty Thousand) Equity Shares of Rs. 10/- (Rupees Ten only) each and Rs. 2,25,00,000/- (Rupees Two crore Twenty Five Lacs only) divided into 22,50,000 (Twenty Two Lacs Fifty Thousand) Redeemable Preference Shares of Rs. 10/- (Rupees Ten only) each and approved the relevant alteration to the Memorandum and Articles of Association of the Company.
2. Issue Bonus Equity Shares in the ratio of 9 (nine) equity shares of face value of Rs. 10/- (Rupees ten only) each fully paid up for every 1 (one) equity share of face value of Rs. 10/- (Rupees ten only) each held on a record date to be finalized at a later date by the Board of Directors i.e.; in a ratio of 9:1, by capitalizing the free reserves and securities premium account.
3. Allotment of upto 20,70,000 (Twenty Lacs Seventy Thousand) 5% Redeemable Non Convertible Cumulative Preference Shares of face value of Rs. 10/- (Rupees Ten only) each of an aggregate nominal amount not exceeding Rs. 2,07,00,000/- (Rupees Two crore Seven Lacs only), for cash at coupon rate of 5% p.a. at a price of Rs. 155/- (i.e; at a premium of Rs. 145/- per preference share) aggregating to Rs. 32.09 crore to M/s. Scenario Communication, the promoter of the Company.
4. Adoption of New set of Articles of Association of the Company in terms of the Companies Act, 2013.
5. Resolution for increase in borrowing powers of the Company pursuant to provision of section 180(1)(c) of the Companies Act, 2013.
6. Resolution for increase in limits pursuant to provision of section 186 of the Companies Act, 2013.
Board has also considered and approved the notice of the proposed EGM to be held on 21 February 2015 to consider all the above decisions for approval of the members of the Company.
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