Pyramid Saimira to raise US$ 400 Million

Pyramid Saimira Theatre Ltd has announced that the Board of Directors of the Company at its adjourned meeting held on January 17, 2008, has discussed certain proposals to raise additional funds for the Company.

To raise additional funds through FCCB / GDR / ADR up to US$ 400 millions.

To issue up to 1,00,00,000 convertible warrants to promoters / promoters group.

The Board also decided to seek the approval of the shareholders by convening an Extra Ordinary General Meeting for the above proposals.

Source : Equity Bulls

Keywords