ABG Shipyard Ltd has informed that the Board of Directors of the Company at its meeting held on November 28, 2007, inter alia, has accorded their consent for the following subject to the necessary approvals:
1. Approval of ESOS Scheme.
2. Approval of issue of Equity Shares to Qualified Institutional Buyers (QIBs).
3. Approval to create, offer, issue and allot convertible warrants to the Promoter(s) of the Company.
Further the Company has informed that, the Board of Directors of the Company has decided to convene an Extra Ordinary General Meeting of the members of the Company for the above purposes on December 28, 2007.
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