Twenty First Century Printers Ltd has informed that the Board of Directors of the Company at its meeting held on August 25, 2007, has considered the matter of issue of equity shares of various parties on preferential allotment basis.
The Board of Directors has decided to offer 17,00,000 equity shares to the following parties:
a) 9,00,000 equity shares @ price of Rs 65/- per share to Powersurfer Interactive (India) Pvt Ltd.
b) 8,00,000 nos. equity shares @ price of Rs 65/- per share to The Indiaman Fund (Mauritius) Ltd, (FII)
As per guideline no.13.1.1.1 (ii), of Chapter XIII of SEBI (Disclosure and Investor Protection) Guidelines 2000, the issue price works out to Rs 64.11. Accordingly, the shares are being offered @ Rs 65/- per share which includes Rs 55/- towards share premium.
The Board of Directors has also decided to convene an Extra Ordinary General Meeting of the members of the Company on September 24, 2007 for the necessary approval under section 81A of The Companies Act, 1956 for issue of 17,00,000 shares as above.
Source : www.indian-commodity.com
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