West Coast Paper Mills Ltd has informed that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on August 25, 2007, inter alia, to transact the following business:
1. To create, offer, issue and allot, warrants entitling the warrant holders(s) from time to time to apply for equity shares (the Warrants) in one or more tranches to be subscribed by the entities in the Promoter Group (known as S K Bangur Group), whether or not such entities are Members of the Company, under a preferential issue through offer letter and / or circular and / or information memorandum and / or such other documents / writings, in such a manner and on such terms and conditions as may be determined by the Board in its absolute discretion, provided that the price of the Warrants so issued shall not be less than Rs 425/- (including a premium of Rs 415/-) per equity share of Rs 10/- each being the price higher than the price of Rs 410/- per warrant with respect to the Relevant Date i.e., July 26, 2007 as prescribed under the Guidelines for Preferential issues contained in Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 and the aggregate amount of the Warrants so issued shall not exceed Rs 500 Million, subject to necessary provisions & approvals.
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