IOL Netcom Ltd has informed that the Board of Directors of the Company at its meeting held on September 04, 2008, inter alia, has approved the following:
1. Preferential issue of 60,00,000 (Sixty lakh) equity warrants to specified investors (Non Promoters) carrying an entitlement to apply for an equivalent number of equity shares of Rs 10/- (Rupees Ten Only) each at a price of Rs 120/- (Rupees One hundred twenty only) including a premium of Rs 110/- (Rupees One hundred ten only) in accordance with Chapter XIII of SEBI (Disclosure & Investor Protection) Guidelines, 2000.
2. Formation of a Committee to identify and negotiate with Companies in the wirline / wireless services & infrastructure with last mile access and to finalise the merger / acquisition of the same at the earliest
1. Preferential issue of 60,00,000 (Sixty lakh) equity warrants to specified investors (Non Promoters) carrying an entitlement to apply for an equivalent number of equity shares of Rs 10/- (Rupees Ten Only) each at a price of Rs 120/- (Rupees One hundred twenty only) including a premium of Rs 110/- (Rupees One hundred ten only) in accordance with Chapter XIII of SEBI (Disclosure & Investor Protection) Guidelines, 2000.
2. Formation of a Committee to identify and negotiate with Companies in the wirline / wireless services & infrastructure with last mile access and to finalise the merger / acquisition of the same at the earliest
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