Refex Refrigerants to issue shares on preferential basis

Refex Refrigerants Ltd has announced that the Board of Directors of the Company at its meeting held on November 09, 2007, has firmed the plans to issue shares on preferential basis.

The company will make a preferential allotment of 2,50,000 equity shares of Rs 10 each fully paid up of the Company to a particular group of investor on a preferential basis at a price of Rs 200 per equity shares (including a premium of Rs 190 per equity share) determined under SEBI (DIP) Guidelines, 2000 as amended from time, as applicable to preferential allotment.

The company will make an issue of FCCB / Depository receipts / Securities with underlying conversion option into equity shares for a value upto a maximum of Rs 200 crores subject to all statutory and regulatory approvals.

The company plans to increase the borrowing powers of the Company from the present limit of Rs 100 crores to Rs 500 crores.

An EGM of the Company will be held on December 10, 2007 to seek and obtain consent of the members for the all the above.

Source : Equity Bulls

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