Oudh Sugar to raise funds

Oudh Sugar Mills Ltd has announced that the Board of Directors of the Company at its meeting held on August 20, 2007, the Finance and Corporate Affairs Committee of the Board of Directors of the Company has been authorised (i) to consider various options to raise funds for the Company up to Rs 50 crore by means of issue of securities of appropriate nature; and (b) to take all such actions necessary, expedient and usual for the issue and offer of the securities and (iii) to take all other necessary actions on behalf of the Company such as appointment of intermediaries and advisors to the Company for the same.

In the event, the Finance and Corporate Affairs Committee of the Board of Directors of the Company is so advised to call and convene the General Meeting of the Company for seeking the approval of the members and shareholders of the Company for issuance and offer of the securities of the Company, the Board of Directors also authorised the Company Secretary to fix the date, time and venue for such General Meeting and issue the requisite notice in consultation with the Chairman.

Source : Equity Bulls

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