Consolidated Securities to issue convertible warrants, shares

Consolidated Securities Ltd has announced that the Board of Directors of the Company at its meeting held on January 05, 2008, has decided to issue 9,00,000 Convertible Warrants to Promoters and 6,15,000 Convertible Warrants to Strategic Investors on preferential basis at a price of Rs 350/- per warrant.

To increase the Authorized Share Capital of the company from existing Rs 4,50,00,000 divided into 45,00,000 Equity Shares of Rs 10/- each to Rs 6,00,00,000 divided into 60,00,000 Equity Shares of Rs 10/- each and consequential amendments in Memorandum & Articles of Associations of the Company.

To hold the Extraordinary General Meeting on January 31, 2008 for obtaining the shareholders approval for the above mentioned preferential issue and increase in Authorized Share Capital for which the Board of Directors have approved the notice of the said Extraordinary General Meeting to be dispatched to the Shareholders of the Company.

Source : Equity Bulls

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