Pharmaids Pharmaceuticals to make preferential allotment

Pharmaids Pharmaceuticals Ltd has announced that the Board of Directors of the Company at its meeting held on January 11, 2008, has resolved to Make Preferential Allotment of 640234 Equity Shares of Rs 10/- each and 166870 Share warrants to the persons at a price to be determined as per chapter XIII i.e. Guidelines for Preferential Issues of SEBI (Disclosure and Investor Protection) Guidelines to meet the expansion and Modernisation of the Plant and machinery to meet the International Standard.

These resolutions are subject to the approval of Shareholders and the concerned statutory authorities. Board also decided to convene the Extra ordinary General Meeting of Shareholders on February 18, 2008 to obtain the approval of shareholders.

Source : Equity Bulls

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