Indo Asian Fusegear Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 02, 2008, inter alia, have accorded the following:
1. To issue of 19,00,000 Convertible Warrants on Preferential Basis by private placement as per SEBI (DIP) Guidelines, 2000 (Amended upto dated) as follows:
a. Upto 15,00,000 Zero Coupon Warrants convertible into Equity shares to the Promoter(s) of the Company.
b. Upto 4,00,000 Zero Coupon Warrants convertible into Equity shares to Other body corporate.
The members approved the proposal for issuance of 19,00,000 convertible warrants on preferential basis to promoters and other body corporate as per SEBI (DIP) Guidelines, 2000 by passing the Special Resolution unanimously.
1. To issue of 19,00,000 Convertible Warrants on Preferential Basis by private placement as per SEBI (DIP) Guidelines, 2000 (Amended upto dated) as follows:
a. Upto 15,00,000 Zero Coupon Warrants convertible into Equity shares to the Promoter(s) of the Company.
b. Upto 4,00,000 Zero Coupon Warrants convertible into Equity shares to Other body corporate.
The members approved the proposal for issuance of 19,00,000 convertible warrants on preferential basis to promoters and other body corporate as per SEBI (DIP) Guidelines, 2000 by passing the Special Resolution unanimously.
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