Rathi Udyog Ltd has informed that the Board of Directors of the Company at its meeting held on January 07, 2008, has approved the following:
1. Under Section 81(1A) of the Companies Act, 1956 and SEBI (DIP) Guidelines and subject to the approval of Shareholders of the Company, Stock Exchanges / RBI and / or any other Statutory Authorities, it is proposed to issue 1,06,91,889 convertible warrants at a price as per the SEBI (DIP) Guidelines as under.
a. 64,91,889 Warrants to promoters / PACs
b. 42,00,000 Warrants to strategic investors.
2. Convening of the Extra Ordinary General Meeting of the Shareholders of the Company to be held on February 05, 2008 to approve the proposed preferential allotment of Warrants.
1. Under Section 81(1A) of the Companies Act, 1956 and SEBI (DIP) Guidelines and subject to the approval of Shareholders of the Company, Stock Exchanges / RBI and / or any other Statutory Authorities, it is proposed to issue 1,06,91,889 convertible warrants at a price as per the SEBI (DIP) Guidelines as under.
a. 64,91,889 Warrants to promoters / PACs
b. 42,00,000 Warrants to strategic investors.
2. Convening of the Extra Ordinary General Meeting of the Shareholders of the Company to be held on February 05, 2008 to approve the proposed preferential allotment of Warrants.
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