Adarsh Derivatives to withdraw preferential issue

Adarsh Derivatives Ltd has announced that the Board of Directors of the Company at its meeting held on September 02, 2007, has unanimously decided to withdraw the Board Proposal for Preferential Allotment of Equity Shares to Promoters and others. Since it doesn't comply with SEBI guidelines as amended upto June 20, 2007.

The issue of preferential allotment will be taken up subsequently, according to relevant SEBI Guidelines and other applicable of the relevant Law.

Henceforth the allotment of shares on preferential basis to promoters will not form the part of agenda of AGM.

Source : Equity Bulls

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