HEG calls for EGM on Jan 14, 2008

HEG Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on January 14, 2008, inter alia, to transact the following Special Business :

1. To create, offer, issue and allot on preferential basis:

(i) 50,00,000 Warrants of Rs 452/- each aggregating to Rs 2,26,00,00,000/- (Rupees Two hundred Twenty Six Crores Only) with option of conversion of each Warrant into One Equity Share of Rs 10/- each within a period of 18 months from the date of issue and allotment to Promoters, Directors and Persons acting in concert, which includes Associates, Relatives and Friends of such Promoters and Directors.

(ii) 3,33,300 Warrants of Rs 452/- each aggregating to Rs 15,06,51,600.(Rupees Fifteen Crores Six Lacs Fifty One Thousand Six Hundred only) with option of conversion of each Warrant into One Equity Share of Rs 10/- each within a period of 18 months from the date of issue and allotment to Employees the Company, Group Companies and Associates Companies, subject to necessary provisions and approvals.

Source : Equity Bulls

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