Xpro India to issue shares / warrants

Xpro India Ltd has announced that the Board of Directors of the Company at its meeting held on April 23, 2007, has proposed, subject to shareholder approval:

1. To offer, in accordance with the SEBI guidelines, upto 4,25,000 Equity Shares of Rs 10/- each and upto 5,00,000 Convertible Warrants on a preferential basis to Promoters / Promoter Group; and

2. To formulate an Employee Stock Option Scheme for granting upto 5,03,750 Equity Shares of Rs 10/- each in accordance with SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999.

3. M/s. Khimji Kunverji & Co., Chartered Accountants, has expressed their un-willingness to be reappointed as Auditors and the Board has proposed the appointment of M/s. Deloitte Haskins & Sells, Chartered Accountants, as Statutory Auditors of the Company at the ensuing Annual General Meeting.

Source : Equity Bulls

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