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Ashapura Minechem Ltd. Company History and Annual Growth Details

YEAR EVENTS

1982 - The Company was fored as a private limited company on 19th February.
The Company became deemed public limited company on 30th June. 1991
and with effect from 29/09/1992 it was converted into public limited company.

- The company is one of the pioneers in industrial mineral development in India.
It carries on the business of mining, processing of Bentonite lumps, powder and
other mined minerals like China clay, Calcium Carbonate, Barytes etc.

- The company has been promoted by Mr. Navnitlal R.Shah. Ashapura Minechem
Limited has one wholly owned subsidiry, namely Ashapura International Limited which
is engaged in the bussiness of mining, production and sales of Bentonite. The Company
was incorporated on 18th December 1989.

1996 - The Company has concluded a Memorandum of Understanding with AMERICAN
COLLOID COMPANY (ACC) of USA for future collaboration for establishing a joint
venture Company. The proposed name of this Company is ASHAPURA VOLCLAY
LTD. (AVL). The proposed joint venture Company will put up projects in Kutchh (Gujarat)
for manufacture of value-added products of Bentonite.

1997 - Shri Bachubhai N. Shah was appointed as an Additional Director on 4th
August, with effect from 1st August, and holds office till the ensuing Annual
General Meeting.

1999 - The Promoters had made a Public Offer of No. of 12,00,000 Equity Shares of the
Company held by them to comply with directives issued under Rule
19(2)b) of the Securities Contract (Regulations) Rules, 1957, to which
there was no response.

- Mr. John Hughes and Mr. Frank B. Wright, Jr. of the American Colloid
Group have been appointed with effect from 1st June, as Additional Directors
on the Board.

2000 - Ashapur Minechem appointed Mr. Larry Washow and Mr. Kanitbhai Parmar as Directors.

2002-Ashapura Minechem Ltd has informed thatMr Frank B Wright, Jr has resigned as Director of the Company w e f June 28, 2002 and the same was accepted by the Board of Directors.Mr Gary Castagna has been appointed as the Additional Director of the Company w e f June 28, 2002.Mr Gary Morrison and Mr Ryan Mckendrick have been appointed as the Alternate Directors to Mr Gary Castagna and Mr Larry Washow, respectively w e f June 28, 2002.

-Ashapura Minechem Ltd has informed BSE that they have acquired the remaining 49% of the equity share capital of Bombay Minerals Ltd. Consequently Bombay Minerals Ltd have become a wholly owned subsidiary of the company.


2003
-Members have approved delisting of its equity shares of the Company from Delhi and Madras Stock Exchanges

2005

-Ashapura Minechem signs JV deal with Chinese firm for Kutch plant

2007

-The Company has issued Bonus Shares in the Ratio of 1:1.

2008

- Ashapura Minechem Ltd has appointed Shri Jayesh Doshi, as the Chief Financial Officer of the Company, with effect from June 16, 2008.

2010

- Ashapura Minechem Limited has informed that Mr. Rajiv Gandhi, having been appointed as the Company's Chief Financial officer has taken charge of his office w.e.f. April 01, 2010.

- Ashapura Minechem Ltd has set to achieve financial closure for its 1mtpa Alumina project.
 
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