Arvind Mills EGM to be held on Oct 23

09 Oct '07

3 min read

Arvind Mills Ltd has informed that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on October 23, 2007, inter alia, to transact the following business:
1. To increase the Authorized Share Capital of the Company from Rs 320,00,00,000/- divided into 23,00,00,000 Equity Shares of Rs 10/- each and 90,00,000 Preference Shares of Rs 100 each to Rs 450,00,00,000/- divided into 36,00,00,000 Equity Shares of Rs 10/- each and 90,00,000 Preference Shares of Rs 100/- each & consequential amendments in the Memorandum of Association of the Company.

2. To adopt the following share schemes:
An Employee Stock Option Scheme of the Company in the name and style of "Arvind Ltd - Employee Stock Option Scheme" ("ESOS" or the "Scheme") and the Board be an is hereby authorized to create, grant, offer, issue and allot at any time to or for the benefit of such person(s) who are in the permanent employment of the Company working in India or outside India including Directors (whether wholetime or otherwise) of the Company, options exercisable into not more than 5% of the issued capital of the Company, from time to time, on the date(s) of the grant of option(s) under ESOS, in one or more trenches and on such terms and conditions as may be fixed or determined by the Board in accordance with the provisions of the law or guidelines issued by the relevant authority; each option would be exercisable for one Equity Share of a face value of Rs 10 each fully paid-up on payment of the requisite exercise price to the Company.

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