Pyramid Saimira - EGM on Mar 14, 2008

Pyramid Saimira Theatre Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on March 14, 2008, inter alia, to transact the following:
1. To issue, offer and allot, in international offerings any securities including Foreign Currency Convertible Bonds (FCCBs), Global Depositary Receipts and / or American Depository Receipts convertible into equity shares, preference shares whether Cumulative / Redeemable / Convertible at the option of the Company and / or the option of the holders of the security and / or securities linked to equity shares / preference shares and / or any instrument or securities representing convertible securities such as convertible debentures, bonds or warrants convertible into depository receipts underlying equity shares/ equity shares / preference shores, ("Securities") to be subscribed by foreign investors / Institutions and / or corporate bodies/entities including mutual funds, banks, insurance companies and / or individuals or otherwise, whether or not such persons/entities/investors are Members of the Company whether in one or more currency, such issue and allotment to be made at such time or times in one or more tranche or tranches, at par or at such price or prices, and on such terms and conditions and in such manner as the Board may, in its absolute discretion think fit upto US$ 400.00 Million, in consultation with the Lead Managers, Underwriters, Advisors or other intermediaries, subject to necessary provisions & approvals.
2। For borrowing for and on behalf of the Company, including Foreign Currency Loan(s) / loan from Foreign Lender(s) from time to time, any sum or sums of n notwithstanding that the moneys to be borrowed together with the moneys 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) will or may exceed the aggregate for the time being of the paid-up capital of the Company and its free reserves, that is to reserves not set apart for any specific purpose, but so that total amount upto which moneys to be so borrowed under the said clause (d) of sub-section (1) of section 293 shall not at any time exceed Rs 3,000 Crores (Rupees three thousand Crores).
3। For mortgaging and / or charging the whole or substantially the whole of the Company's undertaking(s) or any part thereof including present and future properties whether movable or immovable to or in favour of any Financial institution(s), Bodies or Fund(s) and other Lending Institution(s) and for securing any domestic or Foreign Currency Loan(s) or other Financial assistance lent, granted and advanced to the Company provided that total amount so secured at any point of time shall not exceed Rs 2500 Crores.
4। For commencing the business as owners of restaurants, hotels, refreshments and tea rooms, cakes, milk and snack bars, ice-cream bars, beer house and lodging house keepers, wine, beer and spirit merchants, brewers, moisters, distillers, importers and manufactures of aerated, mineral and artificial waters, other drinks and ice-creams and as caterers and contractors in oil their respective branches as detailed in Para (12) of Sub-clause (C) of Clause II of Memorandum of Association of the Company.
5. To invest as they may, in their absolute discretion deem beneficial and in the interest of the Company, upto an aggregate sum of Rs 300.00 crores (Rupees three hundred crores only) in the equity share capital of one or more Companies as detailed below notwithstanding that the aggregate of the loans and investments so for made, the amount for which guarantee or security so far provided to or in all other bodies corporate, along with investments to be made exceeds sixty percent of its paid-up capitol and free reserves, or hundred per cant of it's free reserves, whichever is more:
1। Name of the Company : Pyramid Saimira Production International Ltd, Coimbatore, India- Investment : Rs 100 Crore- Source : Internal accruals, Debt funds raised through private / public Offering of securities.
2। Name of the Company : Saimira Realty Pvt Ltd, Chennai, India- Investment : Rs 100 Crore- Source : Internal accruals, Debt funds raised through private / public Offering of securities.
3. Name of the Company : Saimira Primer Theatres Pvt Ltd, Chennai, India- Investment : Rs 100 Crore- Source : Internal accruals, Debt funds raised through private/public Offering of securities.