Gandhinagar Hotels to issue warrants

Gandhinagar Hotels Ltd has announced that the Board of Directors of the Company at its meeting held on September 15, 2007, the following decision are taken:

1. Issue of 16,00,000 Convertible warrants to be converted into Equity Shares to the Promoters / Promoters Associates / Other Associate Persons / Other Persons & Companies on a price as per SEBI (Disclosure and Investors Protection), Guidelines, 2000.

2. Extra Ordinary General Meeting is to be held on October 10, 2007 to pass resolution u/s. 81(1A) of the Companies Act, 1956, for issue of Convertible warrants on Preferential basis.

Source : Equity Bulls

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