Sandesh EGM on Oct 30, 2006 to issue shares on preferential basis

Sandesh Ltd has announced that an Extra Ordinary General meeting (EGM) of the members of the Company will be held on October 30, 2006, inter alia, to transact the following business:

1. Modification/Alteration in the Articles of Association of the Company by inserting Article no 99.

2. Authority to the Board to offer, issue and allot by way of a preferential issue 10,37,714 fully paid up equity shares of the Company of Rs 10/- each at a price of Rs 262.82 per share (including premium of Rs 252.82 per equity share) which is higher than the price determined in accordance with the SEBI DIP Guidelines to Bennett Coleman & Company Ltd ("Investor"), subject to necessary provisions & approvals.

Source : Equity Bulls

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