Southern Iron seeks EGM approval for issue of shares

Southern Iron & Steel Company Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 27, 2007, inter alia, have passed the resolution authorising the Board of Directors and Committee of Directors of the Company to issue equity shares at a premium of Rs 52/- per share to the banks and financial institutions on conversion of the Optionally Convertible Loans into equity shares.

Source : Equity Bulls

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