Gontermann Peipers to raise US$ 50 Million in International Markets

Gontermann Peipers India Ltd has announced that the Board of Directors of the Company at its meeting held on February 04, 2008, has decided to convene an Extra Ordinary General Meeting of the Shareholders to be held on March 07, 2008, for the purpose of obtaining the approval of shareholders to issue by International Offerings convertible securities / ADRs / GDRs and FCCBs convertible into Equity Shares of the Company upto US$ 50 million, for funding the expansion project undertaken by the Company.

For borrowing monies, which together with monies already borrowed (apart from temporary loans obtained from the Company's bankers in the ordinary course of business), in excess of the paid up capital of the Company and its free reserves.

Source : Equity Bulls

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