Ladderup Finance EGM approves issue of warrants

Ladderup Finance Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 15, 2008, inter alia, have accorded the increase in authorized capital of the Company from INR 5 Crores divided into 50,00,000 Equity Shares of Rs 10 each to INR 10 Crores divided into 1,00,00,000 Equity Shares of Rs 10/- each and consequential amendments in Memorandum & Articles of Association of the Company.

Issue of 40,00,000 convertible warrants to the promoter group and other investors with each warrant convertible into one equity share of the Company at a later date at a price of Rs 20/- per share i.e. at premium of Rs 10/- per share.

Increase in borrowing limits of the Company to INR 25 Crores.

Source : Equity Bulls

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