Twentyfirst Century Updates on Preferential Issue

Twentyfirst Century Management Services Ltd has clarified with reference to the earlier announcement dated February 08, 2008, regarding Outcome of Board Meeting, that in the said announcement the Company has wrongly mentioned that it was approved to issue "1,00,000 Equity shares of Rs 10/- each to Individual at a price to be calculated in accordance with SEBI Guidelines", besides the issue of Preferential issue of 11,00,000 Warrants convertible into equity shares of Rs 10/- each to Promoter group. Actually the Individual is also to be issued 1,00,000 Warrants convertible into equity shares of Rs 10/- each at a price to be calculated in accordance with SEBI Guidelines and not Equity Shares.

Hence the Company given below the correct resolution of the Board Meeting, which reads as follows-

"The Board of Directors at their meeting held on February 06, 2008 considered the Preferential issue of Warrants / shares which was earlier deferred at the EGM held on February 06, 2008 and approved the Preferential issue of 11,00,000 Warrants convertible into equity shares of Rs 10/- each to Promoter group and 1,00,000 Warrants convertible into Equity shares of Rs 10/- each to an Individual at a price to be calculated in accordance with SEBI Guidelines."

Source : Equity Bulls

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