Entegra Board approves rights issue

Entegra Ltd has announced that the Board of Directors of the Company at its meeting held on April 17, 2007, inter alia, has taken the following decisions:

1. The Board noted the Change of Name & Alteration of Object Clause certificate received from Registrar of Companies & also consequent change of Name circulars issued by The Bombay Stock Exchange Ltd & The National Stock Exchange of India Ltd.

2. The Board discussed & decided to go ahead to make the Rights Issue at the ratio of 1:1 as declared in the Board Meeting held on April 01, 2006.

3. The Board approved the Draft Letter of Offer of the Rights Issue.

4. The Board ratified & reconfirmed the appointments of following intermediaries for Rights Issue which were appointed in the Board Meetings held on April 01, 2006 & June 26, 2006:

(i) M/s. Ashika Capital Ltd as Lead Manager to the Rights Issue

(ii) M/s. Bigshare Services Pvt Ltd as Registrar & Transfer Agents to the Rights Issue.

(iii) M/s. ICICI Bank Ltd as Bankers to the Rights Issue

5. M/s. Juris Consultus has been appointed as a Legal Advisers to the Issue.

6. The Board approved an investment of Rs 100,000/- in the Equity Share Capital of Enertech Biofuels Pvt Ltd and make it a wholly owned subsidiary Company.

Source : Equity Bulls

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