Asian Electronics EGM approves raising resources for expansion

Asian Electronics Ltd has announced that the members at the Extra-Ordinary General Meeting (EGM) of the Company held on September 26, 2006, inter alia, have passed the special resolution, authorising the Board of Directors to mobilise adequate resources to meet the growing needs of the Company by way of issue, offer and allotment with or without an over allotment / Green Shoe Option in one or more tranches, Equity Shares or Securities other than Warrants which are convertible into or exchangeable with Equity Shares (Securities) to any Eligible Investors, including without limitation the Qualified Institutional Buyers (QIBs) as defined under sub clause (v) of clause 2.2.2B of the SEBI Guidelines, for an aggregate s not exceeding Rs 150 crores as the Board in its sole discretion may at any time or times hereafter decide (including the issue and allotment of Equity Shares pursuant to an over allotment / Green Shoe Option, if any).

Source : Equity Bulls

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