Sterling Holiday Resorts seeks EGM approval for preferential issue

Sterling Holiday Resorts India Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on January 31, 2008, inter alia, to create, offer, Issue and allot up to 32,28,000 (Thirty Two lakhs and Twenty Eight Thousand Only) Warrants at a price of Rs 73.16/- (Rupees Seventy Three and paise sixteen only) per warrant, on a preferential basis ("Warrants") with each warrant convertible into one Equity Share of the Company of nominal value of Rs 10/- (Rupees Ten only) each at a premium of Rs 63.16/- per equity share, so that the total number of equity shares to be issued by the Company upon conversion of the Warrants does not exceed 32,28,000 (Thirty Two lakhs and Twenty Eight Thousand Only) Equity Shares, to M/s. GRID CAPITAL, MAURITIUS, on such terms and conditions as may be decided and deemed appropriate by the Board of Directors of the Company ("Board" which shall be deemed to include any duly authorised committee thereof) at the time of issue or allotment, subject to necessary provisions & approvals.

Source : Equity Bulls

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