Jupiter Bioscience to consider issue of warrants

Jupiter Bioscience Ltd has announced that a meeting of the Board of Directors of the Company will be held on April 12, 2007, inter alia, to consider and approve the following:

1. To consider and allot Equity Shares in lieu of Share Warrants as approved by the share holders of the Company in the Extra Ordinary General Meeting held on September 30, 2005.

2. Conversion of 1750000 Equity Share Warrants into 1750000 Equity Shares.

3. To place before the Board for its approval the term sheet signed between Ranbaxy Laboratories Ltd and the Company on the following subject.

i. Strategic Business alliance on the Peptide Pharmaceutical for the Global Market.

ii. Allotment of Equity Share Warrants on Preferential basis to the extent of 14.90% post expanded equity after Qualified Institutional Placement and post conversion of Promoter Warrants into Equity Shares.

4. To decide on the date for convening the Extra Ordinary General Meeting of the Company for considering the terms of Strategic business alliance with Ranbaxy Laboratories Ltd.

Source : Equity Bulls

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