Daikaffil Chemicals EGM approves preferential issue to H G E Chemical

Daikaffil Chemicals India Ltd has announced that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on January 29, 2008, inter alia, have approved the Offer and issue of upto 9,19,000 Equity Shares constituting 14.90% of the post issued share capital of the Company, on preferential / private placement basis to M/s H G E Chemical Co. SA, Luxembourg at a price not less than 14.57/- (Offer Price Rs 14.60/-) in accordance with SEBI / RBI Guidelines on the subject.

Increase in Authorised Share Capital from Rs 6.00 Crore to Rs 6.50 Crore by creation of additional 50,00,000 Equity Shares of Rs 10/- each, consequent alteration to relevant Clauses of Memorandum and Articles of Association of the Company.

Source : Equity Bulls

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