Emco EGM on Nov 13, 2007 to approve preferential issue

Emco Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 13, 2007, inter alia, to create, offer, issue and allot in one or more lot(s), on private placement and / or preferential basis, not exceeding 17,00,000 (Seventeen Lacs Only) warrants, each warrant carrying one option / entitlement to subscribe to one number of Equity Share of the Company of Rs 10/- each, against each such option on a future date (i.e. option / entitlement to subscribe to maximum number of 17,00,000 (Seventeen Lacs Only) Equity Shares of Rs 10/- each in aggregate), within a period not exceeding 18 (Eighteen) months from the of issue of such warrants, to Mr. Shailesh Jain, promoter of the Company.

The total number of shares to which the aforesaid proposed allottee will become entitled to, considering one option available per warrant shall be 17,00,000 (Seventeen Lacs Only) Equity shares of Rs 10/- each.

Source : Equity Bulls

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