Indo Asian Fusegear seeks EGM approval for issue of securities

Indo Asian Fusegear Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on April 02, 2008, inter alia, to create, offer, issue and allot, in one or more trenches, up to 19,00,000 (Nineteen Lacs) Zero Coupon convertible Warrants, entitling the holder of each Warrant from time to time to apply and obtain allotment, of one equity share of Rs 10/- each against such warrant in one or more tranches in such manner and at such price inclusive of premium as to be determined in accordance with the SEBI (Disclosure and Investor Protection) Guidelines, 2000 on Preferential basis by private placement to the following, whether or not the existing members of the Company.

Up to 15,00,000 (Fifteen Lacs) Zero Coupon Warrants convertible into Equity shares to the "Promoter(s)" of the Company (which shall include the Promoter/Group Companies and the Directors of the Company)

Up to 4,00,000 (Four Lacs) Zero Coupon Warrants convertible into Equity Shares to such Bodies Corporate, Banks, Financial and Investment Institutions, Mutual Funds, Individuals and Investors, etc other than promoter(s) of the Company, as the Board, in its absolute discretion, may decide.

Source : Equity Bulls

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