Emmsons International EGM approves issue of securities

Emmsons International Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 28, 2008, inter alia, have unanimously accorded approval to issue 8,00,000 equity warrant, convertible into 8,00,000 Equity shares within a period of 18 months from the date of allotment to the promoters / promoters Group, at a price not less than Rs 250/- per share (including premium of Rs 240/- per share) determined as per the SEBI (DIP) Guidelines, 2000 for Preferential Issue. The securities issued under the above Preferential issue shall be locked in for a period of three years from the date of allotment. The lock-in on the shares allotted on exercise of option attached to warrants, if any, shall be reduced to the extent the warrants have already been locked in.

To sell / reissue and allot 7,89,100 Forfeited Equity shares to financial investors, other than promoters / promoters group as at a price not less than Rs 250/- per share including premium of Rs 240/- per share) following the pricing norms considering the SEBI (DIP) Guidelines, 2000 and subject to the lock in provisions to be followed for the Re-issue of these shares.

Source : Equity Bulls

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