| Exchange Disseminated Time |
|Omega Ag-Seeds Punjab Ltd has informed BSE that members of the Company will consider the following resolutions by way of Postal Ballot.|
1. To alter the Memorandum of Association of the Company.
2. Authority to the Board of Directors of the Company for borrowing from time to time any sum or sums of monies, as it may considered fir for the business of the Company on such terms and conditions as it may deem fit and expedient in the interests of the Company notwithstanding that the monies to be borrowed together with the monies already borrowed by the Company (apart from temporary loans obtained or to be obtained from the Company's bankers in the ordinary course of business) may exceed the aggregate of the paid-up capital of the Company and its free reserves (that is to say, reserves not set apart for any specific purpose) provided that the maximum amount of monies so borrowed by the Company shall (apart from temporary loans obtained or to be obtained from the Company bankers in the ordinary course of business) and outstanding at any given point of time, not at any time exceed the sum of Rs. 100 crores (Rupees One hundred Crores only).
3. Authority to the Board of Directors of the Company for mortgaging and/or charging all or any of the present and/or future movable and/or immovable properties and assets and the whole or substantially the whole of the undertaking(s) of the Company, on such terms and conditions and in such form and manner, as the Directors may determine for the purpose of securing unto various lenders who have granted and/or who may hereafter grant to the Company, financial facilities in the nature of short term/long term loans bridge loans, short term/long term secured Non-Convertible Debentures or other forms of Securities not exceeding Rs. 150 crores (Rupees One hundred and Fifty Crores only) for the purpose of securing the said financial facilities granted/ to be granted to the Company, together with interest, further interest, liquidated damages, costs, charges, expenses and other monies payable by Company under the terms of the respective financial facilities.
4. To alter the Memorandum of Association of the Company.
5. Authority to the Board of Directors the Company to make loan(s) and/or give any guarantee(s) / provide any security(ies) connection with loan(s) made to and/or acquire by way of subscription, purchase otherwise the securities of any body corporate up to a limit not exceeding Rs.100 Crores notwithstanding that the aggregate of the loans, guarantees or securities so far given or to be given to and/or securities so far acquired or to be acquired in all bodies corporate may exceed the limits prescribed under the said section.
The Board of Directors has appointed Mr. Girish Madan, Company Secretary, as the Scrutinizer for conducting the Postal Ballot voting process accordance with the law and in a fair and transparent manner.
The Postal Ballot Form should reach to the Scrutinizer so as to reach the Scrutinizer before the close of working hours on or before October 24, 2011. The results of the Postal Ballot will be announced by the Chairman of the Company or by the Managing Director or any other Director on October 25, 2011 at the Registered Office of the Company 3307/B, 2nd Floor, Sector - 210, Chandigarh -160 022.