Indiabulls Financial to consider raising funds

Indiabulls Financial Services Ltd has announced that a meeting of the Board of Directors of the Company will be held on February 05, 2008, inter alia, to consider raising of funds including by way of issue of Convertible Debentures or Debentures with right to subscribe to equity shares of the Company, upto such amount as may be determined by the Board, and to decide about the date for seeking approval of shareholders, in accordance with the provisions of the Companies Act, 1956 in this regard.

The Company has further announced that the Board of Directors has also decided to postpone the Extra Ordinary General Meeting of the members of the Company scheduled to be held on February 01, 2008 with a view to include additional agenda item(s) including, inter alia, modification of the terms of its existing ESOP Plan i.e. Indiabulls Employees Stock Option Plan - II, and to consider the agenda items to be transacted in the Board Meeting scheduled to be held on February 05, 2008. The Company shall separately inform its shareholders regarding the new date on which approval of the shareholders will be sought in this regard through Public announcement in the leading news papers and shall also send the revised Notice for seeking shareholders approval in this regard and shall also keep the exchanges informed.

Source : Equity Bulls

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