Indiaco Ventures to consider conversion of CCPS

Indiaco Ventures Ltd has announced that a meeting of the Board of Directors of the Company will be held on December 20, 2007, to transact the following:

1. Consider the Conversion of 11,00,000 Optionally Convertible Preference Shares issued to India Holdings, LLC into Equity Shares of Rs 10/- each which were allotted as follows:

- 290,000 Optionally Convertible Preference Shares of Rs 100/- each allotted on November 04, 2006;

- 810,000 Optionally Convertible Preference Shares of Rs 100/- each allotted on September 07, 2007.

2. Consider & approve issuance of Warrants convertible into equity shares of Rs 10/- each on a preferential basis to Promoters / Promoter Group Companies, subject to the approval of Shareholders and also in accordance with the provisions of the Companies Act, 1956 and all applicable Guidelines & Regulations as laid down by SEBI.

Source : Equity Bulls

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