Electra Financial to issue 43 Lakh shares

Electra Financial Services Ltd has announced that the Board of Directors of the Company at its meeting held on December 15, 2007 has taken the following decision subject to approval of members in the Extra Ordinary General Meeting.

The Board of Directors of the Company has approved to issue 43,00,000 Equity Shares of Rs 10/- each on a preferential basis to the promoters / promoter group and others, at a price to be determined in accordance with the Guidelines for Preferential Issues contained in Chapter XIII of the Securities and Exchange Board of India (Disclosure & Investor Protection) Guidelines, 2000.

Approval of Notice of the Extra Ordinary General Meeting for obtaining approval of members by way of Special Resolution at the Extra Ordinary General Meeting to be held on January 15, 2008 for the above said purpose.

Source : Equity Bulls

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