Samtel to issue warrants to promoters
New Delhi: Samtel Colour Ltd has announced the issue of 2.2 million warrants to the company's promoters. As per the board's decision, the warrants have the option to be converted into equity shares within eighteen months from the date of allotment at Rs90.18 per share (Rs10 paid-up and Rs80.18 premium).

The decision will be subject to shareholders' and statutory approvals. The conversion would result in a cash inflow of Rs19.8 crore to Samtel, which will be utilised for the current expansion and business plans, the company said in a statement here.

The company is setting up its fourth plant in Ghaziabad for manufacturing picture tubes for 29 inch CTVs. It also has plans to set up another plant at Kota for manufacturing picture tubes for 14, 20 and 21 inch CTVs.

Assuming complete conversion, they will represent 4.14 per cent of the company's fully diluted capital, assuming complete conversion of compulsorily partly convertible debentures and warrants into equity shares as per the preferential issue made to ICICI Ventures earlier this year.
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Hero Honda Dec sales up 35 per cent for calendar year
New Delhi: Hero Honda's sales during calendar year 2004 jumped 35 per cent to 25,28,699 motorcycles compared with 18,73,632 motorcycles in the previous year. According to a company release, December 2004 saw a continuation of the company's sales momentum.

The company sold a total of 2,30,751 motorcycles (1,60,191 in December 2003) during the month, registering a 44 per cent growth.

Hero Honda also said that it was running at full capacity, for the third consecutive month.
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TRAI: Separate register for interconnect pacts
New Delhi: The Telecom Regulatory Authority of India (TRAI) has decided to set up a separate Register of Interconnect Agreements (Broadcasting and Cable Services) for registering any interconnect agreements between broadcasters and the cable service providers.

The regulator had earlier said that while processing cases of registration of the Interconnect Agreements, on the broadcasting and cable services side had found that the standard forms vary from group to group and between Multi-system operators (MSOs)/broadcasters depending upon the nature and type of arrangements.

Besides the volume in terms of number of agreements expected to be registered is also likely to be very large if the MSOs/broadcasters were to submit agreements individually.
Also the industry felt that information regarding the number of subscribers, subscription rate, number and details of channels and discounts schemes are commercially sensitive and therefore should be kept confidential.

As per the new regulations, broadcasters will have to present updated reports of their agreements on a quarterly basis, instead of monthly as stipulated earlier.

The new regulation spares MSOs from filing interconnect agreements with TRAI.
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