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History of LG Balakrishnan and Bros Ltd.

YEAR EVENTS 1956 - The Comp. was incorporated in March. It was converted into a Public Limited Comp. in January 1975. The Main Objects of the Comp. is Building of bodies for buses, lorries & vans; manufacture of automobile & industrial components, reclaimed rubber, & sales & services in automobile parts and accessories. The Comp. also carried on transport operations.

1976 - Out of total 2,01,000 shares issued as bonus till March, 1977. 1,69,000 shares issued at par to the public in February 1975.

1977 - Combined Industrials, Ltd., became a subsidiary of Company.

- 4,00,000 Bonus shares issued in prop. 1:1.

1981 - Elgibi Engineering Works, limited became a subsidiary of the Company.

- Authorised capital reclassified. 2,00,000 Bonus equity shares issued in prop. 1:4.

1983 - Super Engineers, limited became a subsidiary of Company.

1986 - As at 30th June, the Comp. held all the 25,000-9.5% preference shares of Rs 10 each & all the 1,25,000 No. of equity shares of Rs 10 each of this subsidiary.

- As at 30th June, the Comp. held all the 10,000-9.5% preference shares of Rs 10 each & all the 90,000 No. of equity shares of Rs 10 each issued by Elgibi Engineering Works Ltd.

- As on 30th June, the Comp. held 1,100-9.5% preference shares of Rs 10 each & 68,900 No. of equity shares of Rs 10 each of Super Engineers, Ltd.

- Authorised capital increased.

1989 - The Comp. merged with Elgibi Engineering Works limited Combined Industrials limited is also a subsidiary of Comp. wherein the Comp. held all the 1,25,000 No. of equity shares of Rs 10 each & 25,000-9.5% preference shares of Rs 10 each.

1993 - 5,00,000 Rights equity shares issued in prop. 1:2.

1994 - The Comp. set up one more unit at Vaiyampalayam to manufacture Chains at a cost of Rs 6 crores.

- The wind energy farm of 1.125 MW capacity comprising 5 wind mills was installed at Muppandal in Tamil Nadu at a cost of Rs 398.75 lakhs. It was commissioned in 1995. In the previous year two more wind energy farms of 0.450 MW capacity was set up.

- 7,50,000 Rights equity shares issued [Prem. Rs 65, prop. 1:2s]. Another 37,500 shares issued at a premium of Rs 65 per share of Rs 10 each allotted at a premium of Rs 100 per share to Group Companies on preferential allotment basis. 7,81,960 Bonus shares issued in prop. 1:3.

1996 - The Comp. offered Voluntary Retirement Scheme. Authorised capital restructured. 356 No. of equity shares allotted.

1997 - L.G.B. Industries Limited was amalgamated with the Comp. with effect from 1st April.

- The Comp. has taken over the operations of Steel Division of M/s. Elgi Automotive Services Limited & wire flattening divisions of M/s. L.G.B. Auto Products Limited located at Karur.

1998 - 7,98,000 No. of equity shares issued on amalgamation of L.G.B. Industries limited with the Comp. in prop. 1:5.

2003 - Recommendation for issue of bonus shares in the ratio of 1:1

Splitting the face value of equity share of Rs 10 each into share of Rs 1 each.

Withdrawal of proposal of Employee Stock Option Scheme [ESOSs] & Employee Stock Purchase Scheme [ESPSs].

Company has fixed December 17, 2003 has been fixed as Record Date for purpose of Bonus Issue & Stock Split.

2004

-LG Balakrishnan and Bros Ltd has informed that the Comp. has signed MOU with MGM Industries & Swathi Gears and Heat Treaters, Mysore based firms

2006

-LG Balakrishnan enters into an agreement with International Finance Corporation, Washington

2006

-LG Balakrishnan and Bros Ltd has inducted Smt Rajsri Rajiv as an additional Director in the Board of Company.

2007

-The Comp. has issued rights in the ratio of 1:9 at a premium of Rs.0/- Per Share.

2008

-LG Balakrishnan and Bros Ltd has informed that the securities of Comp. has been de-listed from the Madras Stock Exchange Ltd [MSEs] with effect from May 20, 2008.