Afcon Book.indd - Afcons Infrastructure Ltd.

AFCONS INFRASTRUCTURE LIMITEDSCHEDULES FORMING PART OF THE BALANCE SHEET AS AT 31 ST MARCH, 2010SCHEDULE 1SHARE CAPITALAUTHORISED :RS. IN LACSAs At31st March 2009RS. IN LACS350,000,000 Equity Shares of Rs.10 each 35,000.00 35,000.00650,000,000 Preference Shares of Rs. 10 each 65,000.00 65,000.00TOTAL 100,000.00 100,000.00ISSUED,SUBSCRIBED AND PAID-UP :71,700,514 (previous year 71,404,380 Equity Shares of Rs.10 each (Refer Note 1 below)) 7,170.05 7,140.44100,000,000, 0.01% Non Cumulative and Non Profit Participatory 10,000.00 10,000.00Convertible Preference Shares of Rs.10 each (Refer Note 2 below)250,000,000, 0.01% Fully and Compulsorily Convertible Non-Cumulative, 25,000.00 25,000.00Non Participatory Preference shares of Rs. 10 each. (Refer Note 3 below)TOTAL 42,170.05 42,140.441. Of the above Equity Shares :-(a) 200,000 Shares of Rs.10 each have been issued as Fully paid up for Consideration other than Cash.(b) 3,500,000 Shares of Rs.10 each are issued as Fully Paid up Bonus Shares by Capitalization of Rs. 35,000,000 out of GeneralReserve.(c) 24,076,349 (Previous year 24,075,389) Shares are held by Cyrus Investments Limited (CIL) which is a subsidiary of ShapoorjiPallonji & Company Limited (SPCL), the holding company.(d) 24,075,389 shares are held by Sterling Investment Corporation Private Limited (SICPL), a subsidiary of SPCL.(e) 13,015,929 shares are held by Floreat Investments Limited (FIL), a subsidiary of SPCL.(f) 4,016,250 shares are held by Renaissance Commerce Pvt. Ltd.(formerly Afcons BOT Constructions Pvt. Ltd.), a subsidiary ofShapoorji Pallonji Infrastructure Capital Co. Ltd (SPICCL), which is a subsidiary of SPCL.(g) 4,016,250 shares are held by Hermes Commerce Ltd. (formerly Afcons Dredging & Marine Services Ltd.), a subsidiary of ShapoorjiPallonji Infrastructure Capital Co. Ltd. (SPICCL), which is a subsidiary of SPCL.(h) 20,000,000 shares allotted to SICPL, a subsidiary of SPCL on 22-12-06 pursuant to conversion of 7.5% Redeemable ‘Non-cumulativeconvertible Preference Shares into equity shares at par.(i) 300,514 (Previous year 4,380) shares have been issued under ESOP scheme 2006.2 The 0.01% Non Cumulative and Non Profit Participatory Convertible Preference Shares of Rs.10 each are held by Floreat Investments Ltd.,a subsidiary of SPCL on the following terms:(a) The Preference Shares shall be non- cumulative and non profit participating convertible Preference Shares carrying a fixed rate ofdividend of 0.01% per annum to be paid in priority to the holders of any other class of shares.(b) The Preference Shares shall be deemed to be converted into common equity shares of the Company at a price of Rs. 68.25 per equityshare (consisting of par of Rs. 10 and a premium of Rs. 58.25) immediately, automatically and without any further act of the parties inthe event of conversion of the Preference Shares mentioned in note 3 (b) below.3. The 0.01% Fully and Compulsorily Convertible Non-Cumulative, Non Participatory Preference shares of Rs. 10 each are held by IndiaInfrastructure AIL (Mauritius) Limited on the following terms:(a) Non-cumulative preferential dividend at a fixed rate of 0.01 per cent per annum to be paid in priority to the holders of any other class ofshares;(b) The Preference Shares will be mandatorily converted in to equity shares at a price to be ascertained at the relevant point of time ifInitial Public Offering (IPO) happens between 18-36 months from the date of issue viz. 14th Jan 2008 or any time thereafter but before14th Jan 2013.(c) The Preference Shares shall rank senior to all types of shares issued or to be issued by the Company.4. Particulars of Option on Unissued Share Capital (Refer Note B(20) of Schedule 19)19