Sybly Industries Ltd has informed that the Board of Directors of the Company at its meeting held on January 28, 2008, inter alia, has taken the following decisions:
1. To issue and allot 4,35,00,000 warrants convertible into equal no. of equity shares to promoters group subject to the approval of shareholders.
2. To issue and allot 10,00,00,000 GDRs subject to the approval of shareholders.
3. An Extra Ordinary General Meeting has been convened on February 27, 2008 to take approval of the shareholders.
4. To plan utilization of funds in the Following manner:(i) Expansion & modernization of its existing facilities of manufacturing of Polyester Yarn.(ii) Going for forward integration activities of manufacturing of Thread.(iii) Going into the new line of activities pertaining to manufacturing of PET Processing & Semi Craft Paper, either in the Company itself or through its subsidiaries or Joint Ventures.
1. To issue and allot 4,35,00,000 warrants convertible into equal no. of equity shares to promoters group subject to the approval of shareholders.
2. To issue and allot 10,00,00,000 GDRs subject to the approval of shareholders.
3. An Extra Ordinary General Meeting has been convened on February 27, 2008 to take approval of the shareholders.
4. To plan utilization of funds in the Following manner:(i) Expansion & modernization of its existing facilities of manufacturing of Polyester Yarn.(ii) Going for forward integration activities of manufacturing of Thread.(iii) Going into the new line of activities pertaining to manufacturing of PET Processing & Semi Craft Paper, either in the Company itself or through its subsidiaries or Joint Ventures.
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