ABC India to issue shares on preferential basis

ABC India Ltd has announced that the Board of Directors of the Company at its meeting held on June 29, 2007, inter alia, has take following decisions, subject to approval of members at the Annual General Meeting of the Company:

1. Authority to the Board of Directors of the Company for issuance of 4,00,000 Equity Share of Rs 10/- at a premium of Rs 40/- per share on preferential basis subject to the SEBI Guidelines in this regard, to selective persons other than promoters and persons acting in concert with them.

2. Approved amendment in the Article of Association of the Company to enable it to grant options for Equity Shares under Employees Stock Option Scheme.

3. Authority to the Board of Directors of the Company to grant, offer and issue options and equity shares of the Company upto 2.50% of issued, subscribed & paid up equity share capital of the Company as on March 31, 2007 at exercise price of Rs 50/- and Rs 55/- per equity share of Rs 10/- each, subject to SEBI Guidelines in this regard.

Source : Equity Bulls

Keywords