Accentia Technologies EGM approves issue of shares to Berggruen AP Mauritius

Accentia Technologies Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on August 20, 2007, inter alia, have discussed and approved the following resolution for the issue and allotment of 13,00,000 equity shares of Rs 10 each at a price which is Higher than the price in accordance with the SEBI guidelines for preferential issue to M/s. Berggruen AP, Mauritius for an amount equivalent of USD 50,00,000.

M/s. Berggruen AP, Mauritius is a venture of Berggruen Holdings, A Global Investment Fund investing internationally in an extensive range of asset classes including private equity.

With its world wide presence in New York, Los Angeles, London, Berlin, Tel Aviv, Istanbul and Mumbai, the overall net asset base of the fund exceeds USD 1 Billion.

The shareholders welcomed the investment by M/s. Berggruen AP, which re-in forces the commitment of the promoters in making the Company, A global corporation.

Source : Equity Bulls

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