Elpro International Ltd has informed that the Board of Directors of the Company at its meeting held on February 15, 2008, inter alia, has approved the following subject to necessary approval of the shareholders / members through postal ballot:
1. Increase in authorized share capital of the Company from existing Rs 5 crores divided into 50,00,000 equity shares of Rs 10/- each to Rs 10 crores divided into 1,00,00,000 equity shares of Rs 10/- each.
2. Issue of 11,00,000 (Eleven Lacs) convertible warrants of Rs 10/- each to Foreign Institutional Investors on preferential allotment basis with an option to convert into equity shares of Rs 10/- each within 18 months at a price to be determined in accordance with SEBI (DIP) guidelines 2000 applicable for preferential allotment, in terms of the Companies Act, 1956.
3. Raising of further resources not exceeding Rs 100 crores in one or more tranches through such means and to such an extent and at such terms and conditions as may be decided by the Board.
1. Increase in authorized share capital of the Company from existing Rs 5 crores divided into 50,00,000 equity shares of Rs 10/- each to Rs 10 crores divided into 1,00,00,000 equity shares of Rs 10/- each.
2. Issue of 11,00,000 (Eleven Lacs) convertible warrants of Rs 10/- each to Foreign Institutional Investors on preferential allotment basis with an option to convert into equity shares of Rs 10/- each within 18 months at a price to be determined in accordance with SEBI (DIP) guidelines 2000 applicable for preferential allotment, in terms of the Companies Act, 1956.
3. Raising of further resources not exceeding Rs 100 crores in one or more tranches through such means and to such an extent and at such terms and conditions as may be decided by the Board.
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