Valecha Engineering to allot warrants to promoters, others

Valecha Engineering Ltd has announced that the Board of Directors of the Company at its meeting held on January 11, 2008, has decided to issue Convertible Warrants into Equity Shares on Preferential basis to the following Promoters / Promoter group and other investors upto 19,00,000 warrants at a price not lower than the minimum price specified as per SEBI Guidelines for Preferential Issue under SEBI (Disclosure and Investor Protection) Guidelines, 2000 but not less than Rs 322/- per equity share.

The above is subject to approval of members at the General Meeting and other authorities. The Extra Ordinary General Meeting to approve the above will be held on February 11, 2008.

Source : Equity Bulls

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