Aksh Optifibre to raise funds through Preferential issue of Warrants & FCD

Aksh Optifibre Ltd has announced that the Fund Raising Sub-Committee of Directors at its meeting held on November 03, 2007, had passed a resolution for making preferential issue of:

1. 50,00,000 Warrants convertible into Equity shares of the Company at a price of Rs 63/- or such price as may be determined as per SEBI (Disclosure and Investor Protection) Guidelines, 2000, whichever is higher.

2. 10,000 Zero Coupon Fully Convertible Debentures (FCD) of Rs 2500/- each to be compulsorily converted into equity share at such price as may be determined as per SEBI (Disclosure and Investor Protection) Guidelines, 2000.

The above Preferential Issue of securities shall be subject to approval of shareholders at their Extra Ordinary General Meeting of the Company.

Source : Equity Bulls

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