Asian Oilfield - Outcome of Board Meeting
Asian Oilfield Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 28, 2007, inter alia, has accorded their approval for the following business:
1. To issue 15,00,000 Equity Shares & 12,00,000 Convertible Share Warrants at a price of Rs 190/- per Equity Share / Convertible Share Warrant on preferential basis to the Non-Promoters Strategic Investors, subject to the approval of Shareholders at the Extra Ordinary General Meeting scheduled to be held on December 26, 2007. Each warrant is carrying a right to subscribe to equal number of Equity Shares in the Company to be converted with in a period of 18 months in cash by way of Preferential Allotment in terms of Companies Act, 1956 and as per the Guidelines for Preferential Issue issued by SEBI under SEBI (DIP) Guidelines.
2. Increase in Authorised Share Capital of the Company from Rs 15,00,00,000/- (Rupees Fifteen Crores), divided into 1,50,00,000 (One Crore Fifty Lacs) Equity Shares of Rs 10/- (Rupees Ten) each to Rs 17,00,00,000/- (Rupees Seventeen Crores), divided into 1,70,00,000 (One Crore Seventy Lacs) Equity Shares of Rs 10/- each.
3. Convening an Extra Ordinary General Meeting of the Shareholders of the Company on December 26, 2007, to seek their approval for the aforesaid purposes.
4. Draft notice for convening of Extra Ordinary General Meeting of the Shareholders.
1. To issue 15,00,000 Equity Shares & 12,00,000 Convertible Share Warrants at a price of Rs 190/- per Equity Share / Convertible Share Warrant on preferential basis to the Non-Promoters Strategic Investors, subject to the approval of Shareholders at the Extra Ordinary General Meeting scheduled to be held on December 26, 2007. Each warrant is carrying a right to subscribe to equal number of Equity Shares in the Company to be converted with in a period of 18 months in cash by way of Preferential Allotment in terms of Companies Act, 1956 and as per the Guidelines for Preferential Issue issued by SEBI under SEBI (DIP) Guidelines.
2. Increase in Authorised Share Capital of the Company from Rs 15,00,00,000/- (Rupees Fifteen Crores), divided into 1,50,00,000 (One Crore Fifty Lacs) Equity Shares of Rs 10/- (Rupees Ten) each to Rs 17,00,00,000/- (Rupees Seventeen Crores), divided into 1,70,00,000 (One Crore Seventy Lacs) Equity Shares of Rs 10/- each.
3. Convening an Extra Ordinary General Meeting of the Shareholders of the Company on December 26, 2007, to seek their approval for the aforesaid purposes.
4. Draft notice for convening of Extra Ordinary General Meeting of the Shareholders.
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