Corporate Announcements On The Bse

OPEN OFFERS

Hindalco Industries: DSP Merrill Lynch has informed on behalf of the company that, pursuant to the public announcement for open offer made by the company to shareholders of Indian Aluminium, the company has acquired 29086 (0.04 per cent) equity shares of Indian Aluminium on 19.08.02. The maximum price paid for shares acquired through open market purchases was Rs 118.25 per share. Similarly, the company has acquired 161221 (0.23 per cent) equity shares of Indian Aluminium on 16.08.02. The maximum price paid for shares acquired through open market purchases was Rs 118.15 per share.

PRIVATE PLACEMENTS

Hindustan Foods: The board, at its meeting held on 26.07.2002, decided, subject to necessary approvals, that the consent is given to offer, issue and allot on private placement basis out of the authorised capital of the company, 30,00,000 equity shares of Rs 10 each as fully paid up of an aggregate face value not exceeding Rs 3 crore exclusively to M/s. VS Dempo & Co by conversion of loan to the extent of Rs 300 lakh out of the existing outstanding loan of Rs 855.67 lakh given to the company by its promoters. AGM will be held on 21/09/2002.

 

ACQUISITIONS, DEALS, EXPANSIONS

HCL Technologies: The company has announced a strategic alliance with Sento Corporation, a US-based customer contact solutions company. As a result of this alliance, both companies will be able to offer joint solutions to Global 2000 companies.

Belenge Investments & Trading Co: The meeting of the board of directors will be held on August 22 to consider the following: To consider takeover of running business from Turbotech Precision Engg (P) Ltd on swap basis; consider issue of equity shares on preferential basis for acquisition of business.

Hinduja TMT: The company has increased operations on behalf of its US telecom client by an additional 100 CSRs (customer service representatives). The client has conveyed that it would be ramping up capacity. HTMT has already commenced operations for the 100 CSRs and is the process of training 130 more CSRs.

Bathina Technologies (India): As part of its global strategic alliance initiative and part of its commitment to fulfill expanded value based product offering, the company has entered into agreements with Sun Microsystems, Inc for StarOffice NOW, Sun Developer Connection, iForce programs.

Bharat Petroleum Corp: The board has approved the proposal for amendment to the MOA of the company by adding a new object as clause to the object clause of the MOA to enable the company to carry out the new activity of merchandising consumer goods, family requirements etc at the premises of the retail outlets.

DIVIDEND PAYMENTS

Maharashtra Seamless: The board at its meeting on August 17, 2002: recommended a dividend on equity shares @ 20 per cent for the accounting year ended March 31, 2002; proposed subject to the approval of the members in the forthcoming AGM to be held on September 23, 2002 issue of 10 per cent redeemable preference shares as bonus shares in the ratio of one fully paid up preference share of Rs 10 each for every two equity shares held on the record date. These preference shares would be redeemable in one or more tranches before the expiry of five years from the date of allotment. The board also decided to increase the authorised share capital of the company subject to the approval of the members in the forthcoming AGM to be held on September 23, 2002 from Rs 45,00,00,000 divided into 3,50,00,000 equity shares of Rs 10 each and 1,00,00,000 preference shares of Rs 10 to Rs 55,00,00,000 divided into 3,50,00,000 equity shares of Rs 10 each and 2,00,00,000 preference shares of 10 each.

PREFERENTIAL ISSUE

Moschip Semiconductor Technology Ltd: The meeting of the board of directors will be held on August 21, 2002 to allot 2,00,000 equity shares and 3,00,000 convertible warrants at a price of Rs 33 per share/ warrant on preferential basis.

SHARE DEALS

Gujarat Ambuja Exports: Vijay Kumar Gupta has purchased 12925 (0.04 per cent) equity shares and sold 105 (0.00 per cent) shares of the company through market between 09.08.02 to 14.08.02. After this transaction, his shareholding is 7278031 (24.27 per cent) shares.

Jupiter Biotech: The company has informed that Vijay Kumar Gupta has purchased 50 equity shares and sold 1400 (0.04 per cent) shares of the company through market between 09.08.02 to 14.08.02 After this transaction his shareholding is 1526426 (36.87 per cent) shares.

Atlas Copco India: The company has sold 3,20,200 shares held in Revathi Equipment Ltd, Coimbatore, at Rs 234 per share to M/s Utkal Investments Ltd in terms of a share purchase agreement entered into on April 21.

BUYBACK PLANS

HBL Nife Power Systems: The company has submitted a draft offer for buyback of shares. It has submitted all clarifications sought by SEBI in this regard. The company is still awaiting their clearance. Since the company cannot proceed further without the approval of Sebi, they will intimate the revised timetable for buyback soon after receiving approval from Sebi.

NOTICES UNDER TAKEOVER CODE

Aztec Software and Technology Services: In terms of regulation 7(3) of Sebi, (substantial acquisition of shares and takeovers) regulations 1997, the company has informed that trustees of Aztec Software & Technology Services Pvt Ltd Employees