AXIS IT&T AGM approves preferential issue

AXIS IT&T Ltd has announced that the members at the 16th Annual General Meeting (AGM) of the Company held on September 29, 2006, inter alia, have given the authority to the Board to issue 3,22,421 equity shares of face value of Rs 5/- each, equity shares so issued shall not be less than Rs 10.08/- (including a premium of Rs 5.08/-) per equity share, being the price with respect to the Relevant Date, i.e. August 29, 2006 as prescribed under the Guidelines for Preferential Issues contained in Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 to Mr Rohitasava Chand, Executive Chairman jointly with his wife Mrs Mina Chand, subject to necessary provisions & approvals.

Source : Equity Bulls

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