Lincoln Pharmaceuticals to issues preferential shares at not less than Rs.20

Lincoln Pharmaceuticals Ltd has announced that with the ongoing conversation with some of foreign investors with their been interest in the Company for their Equity participation, the Board of Directors of the Company has decided to call Board Meeting on October 10, 2006 to consider the matter the issue of equity shares (Face Value of Rs 2/- per share) not exceeding 7,60,000 shares on Preferential basis at price not less than Rs 20/- per share which is approximately 100% premium to the current market price. The said amount will be used for working capital as well as for upgrading of plant at Khatraj & also for take over and acquisitions etc.

The Company has recently applied for the patent of its product MISOPROSTOL, Company two other products i.e., NAMSAFE & NAMCOLD has already gone for final patent approval. Company's modern plant is approved by WHO-GMP & also ISO 9002 Certified. Company has set up an R & D center, which is also approved by Ministry of Science & Technology, Govt. of India. Company is exporting product & also holding a status of Export house from Govt. of India.

Source : Equity Bulls

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