Vardhman Polytex Ltd: Outcome of EGM

Vardhman Polytex Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 12, 2011, inter alia, have approved the issue of 18,00,000 (Eighteen Lacs only) Convertible Warrants, carrying the option to the holders of such warrants to subscribe to equal member of equity share of face value of Rs 10/- at price, of Rs 68/- per share (including premium) for every warrant held, within a period of 18 months from the date of allotment of the warrants, to the Financial investors (belonging to the Non Promoter Group) on preferential basis pursuant to SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2009.

The members has approved the said resolution with proposed changes notified in company notice dated January 31, 2011 in the newspaper that the relevant date as per regulation 71 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 for determination of applicable price of equity shares for the issue is January 13, 2011 instead of January 12, 2011 and equity shares to be allotted on conversion of the proposed convertible warrants shall rank pari passu with the existing equity shares of the company including dividend.