Pantaloon Retail India Ltd has informed that the Board of Directors of the Company at its meeting held on August 18, 2007, inter alia, has taken the following decisions:
1. Issue of 4000000 equity shares of Rs 2/- each at a premium of Rs 498/- aggregating to 2000000000/- on preferential basis pursuant to Chapter XIII of Securities & Exchange Board of India (Disclosure & Investor Protection) Guidelines, 2000 relating to Preferential Issues to private investors.
2. Issue of 20200000 Warrants at a price of Rs 500/- per Warrant aggregating to Rs 10100000000/- to Promoter group, Pantaloon Employee Welfare Trust and select employees of the Company.
The Warrant-holders have the option to acquire the same number of equity shares in one or more tranches within a period of 18 months from the date of issue of warrants pursuant to Chapter XIII of Securities & Exchange Board of India (Disclosure & Investor Protection) Guidelines, 2000 relating to Preferential Issues.
The relevant date for pricing for the aforesaid issue of securities is August 19, 2007.
An Extraordinary General Meeting of the Company is scheduled on September 18, 2007 for obtaining shareholders approval for the aforesaid purpose.
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