Maharashtra Seamless approves issue of 36.8 Lakh warrants

Maharashtra Seamless Ltd has announced that the Board of Directors of the Company at its meeting held on January 31, 2008, inter alia, has considered and approved to issue 36,80,000 warrants to promoters of the Company on preferential basis, subject to necessary approvals. Each Warrant will carry a right to apply / subscribe to one equity share of Rs 5/- each, at a price not less than the price arrived at as per the SEBI Guidelines, within of a period of 18 months from the date of allotment of the Warrants.

To convene the Extra-ordinary General Meeting on March 01, 2008 to obtain shareholders approval for alteration of Authorised share capital of the Company i.e. change of face value of equity shares of Rs 2/- each to Rs 5/- each and allotment of warrants to promoters.

Source : Equity Bulls

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