Sagar Cements Ltd has informed that the shareholders of the Company at its Extra-ordinary General Meeting (EGM) held on July 23, 2008 have approved the proposal to issue 10,00,000 equity sharers of Rs 10/- each at a price of Rs 700/- per share (including a premium of Rs 690/- per share) to M/s. Vicat S.A. France and or to any of its subsidiaries / affiliates on a preferential basis. This issue which is subject to various other approvals as may be required, will increase the equity paid-up share capital of the Company to Rs 15,00,23,000/- consisting of 1,50,02,300 no. of shares of Rs 10/- each.
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