CNI Research Ltd has informed that the Board of Directors of the Company at its meeting held on February 27, 2008, has taken the following decisions:
1. To make preferential allotment of 60,00,000 convertible share warrant to promoters, non promoters and strategic investors at a price to be calculated as per SEBI (DIP) Guidelines, 2003 to be converted into equal number of equity shares of Rs 1/- each within 18 months from the date of allotment.
2. To convene an Extra Ordinary General Meeting on March 27, 2008 to take approval from shareholders for the said preferential allotment.
1. To make preferential allotment of 60,00,000 convertible share warrant to promoters, non promoters and strategic investors at a price to be calculated as per SEBI (DIP) Guidelines, 2003 to be converted into equal number of equity shares of Rs 1/- each within 18 months from the date of allotment.
2. To convene an Extra Ordinary General Meeting on March 27, 2008 to take approval from shareholders for the said preferential allotment.
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