Vintage Cards & Creations Limited
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BSE Code:
532360
NSE Code:
VINCARDS
Business Profile
Business Profile
Vintage Cards & Creations (VINTAGEC) has business activities in the segment of greeting cards and gifts. Founded in 1983, it was converted into a private limited company on Oct. 01, 1996, and converted into a public limited company on Jul.01, 1999.
The company`s product profile includes greeting cards, posters, autograph books, address books, telephone books, gift wraps, mugs with logos and other items. The production unit is located at Wadki in Pune with an installed capacity of 4.351 million greeting cards. It has an agreement with Hallmark Cards Inc. of USA for the use of brands, trademarks and copyrights covering intellectual property and with Verkerke Copyright & Licensing GmbH Switzerland represented by Hallmark Cards, Australia for non transferable non exclusive use of copyrights to manufacture, distribute and sell greeting cards, posters and poster cards in India and Sri Lanka.
All rights to use trademarks owned by Brownsword has been acquired including the Andrew Brownsword, Gordon Fraser Gallery and Forever Friends trademarks for manufacture, distribution, sale and advertising in India. The company has introduced greeting cards in Hindi and Marathi. Ultra Movies Channel distributes its products in the country. Partyline Products, a 100% subsidiary, has been formed to handle the disposal paper operations catering to partyware.
The registered office is located at 62, Parkland Society, 208, Viman Nagar, Pune-411014, Maharashtra.
Financials
Vintage Cards & Creations registered a loss of Rs 9.24 million for the quarter ended December 2007.
Net sales declined 49.64% to Rs 9.9 million for the quarter ended December 2007 from Rs 19.66 million for the quarter ended December 2006.
Total income dipped 50.77% to Rs 9.9 million from Rs 20.11 million for the quarter ended December 2006.
The loss per share of the company stood at Rs 1.56 for the quarter ended December 2007.
Recent Developments
26-MAR-08
On Feb. 26, 2008, the shareholders authorized the board to issue, offer and allot 7 million convertible warrants to the promoter group and associates, convertible at the option of warrant holder in one or more tranches within 18 months from the allotment date into one fully paid-up equity share of Rs 10 against each warrant for cash at an exercise price of Rs 11 each, including a premium of Rs 1, and to issue fresh equity shares on the conversion of the warrants on such further terms and conditions as may be finalized by the board of directors, to the promoter group and associates.
02-FEB-08
Pursuant to court order dated Oct. 12, 2007 approving the scheme of arrangement between the company, its equity shareholders and unsecured creditors, the board of directors at its meeting held on Jan. 30, 2008, approved the following:
- Allotment of 3,995,666 equity shares of Rs 10 each to unsecured creditors at a premium of Rs 20 per share.
- Allotment of 2.41 million optionally convertible debentures of Rs 10 each.