Parekh Aluminex EGM approves fund raising proposal

Parekh Aluminex Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on July 02, 2007, inter alia, have accorded to the following resolutions:

1. Increase in Authorised Capital of the Company from Rs 12 crore to Rs 16 crore.

2. Alteration of Capital Clause of the Memorandum of Association to effect the change to increase the share capital of the Company from Rs 12 crore to Rs 16 crore.

3. Alteration of Capital Clause of the Articles of Association to effect the change to increase the share capital of the Company from Rs 12 crore to Rs 16 crore.

4. 30 Lakhs warrants to be issued to investors including promoters as per the SEBI (DIP) Guidelines.

5. Fresh Capital to be raised to the extent of US $ 50 million through FCCB, GDR, QIB or any other permissible route as per the applicable guidelines.

Source : Equity Bulls

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