Twentyfirst Century Management Services to issue securities

Twentyfirst Century Management Services Ltd has announced that the Board of Directors of the Company at its meeting held on January 14, 2008 has decided to issue 600000 Equity shares of Rs 10 each at a premium of Rs 97 (at a value of Rs 107 per share) to the persons other than promoters and their associate group at a price higher than that computed as per SEBI (DIP) Guidelines.

To issue 1200000 warrants convertible into Equity shares of Rs 10 each at a premium of Rs 97 (at a value of Rs 107 per share) to the promoters and persons acting in concert at a price higher than that computed as per SEBI (DIP) Guidelines. These warrants are convertible within a period of 18 months from the date of allotment.

The Board approves investment of Rs 200 lacs towards taking a 33.33% stake in Premium Narmada Securities & Broking Pvt. Ltd., (the Company owning and operating the portal www.premiuminvestment.in) based on the valuation done by a firm of chartered accountants and based on the authority granted by the Board of Directors at the meeting held on January 07, 2008.

To Convene EGM on February 06, 2008 for the approval of shareholders for the issue of shares and warrants as mentioned above and other Company law matters.

Source : Equity Bulls

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