Valiant Communications seeks EGM approval for issue of 6 lakh shares

Valiant Communications Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on February 06, 2008, inter alia, to offer, issue and allot in one or more tranches, 600,000 (six lacs only) equity shares having face value of Rs 10/- each at a price Rs 55/- (including share premium of Rs 45/- each), calculated in confor mity with the provisions of Clause 13.1.1.1 of SEBI (Disclosures and investor Protection) Guidelines, 2000, with reference to the relevant date, January 06, 2008, to OSTRICH ESTATE PVT LTD, on a private placement basis and / or preferential allotment basis, equity shares which shall be ranked in all respects pari passu with the existing shares capital, however that the total amount raised through the aforesaid Securities should not exceed Rs 3,50,00,000 (Rs Three Crores and fifty lacs only), to meet the Company's capital expenditure and working capital requirements, subject to necessary provisions & approvals.

Source : Equity Bulls

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