Impex Ferro to issue 60 Lakh warrants

Impex Ferro Tech Ltd has announced that the Board of Directors of the Company at its meeting held on May 21, 2008, inter alia, have decided to issue 60,00,000 warrants which are convertible into equity shares on preferential basis to the persons belonging to Promoter Group and Strategic Investors belonging to non-promoter group.

The Authorised share capital of the Company will also be increased from Rs 52 cr to Rs 58 cr to accommodate the equity shares that will arise on conversion of the aforesaid warrants.

Further, an extra ordinary general meeting for obtaining the shareholders approval for the above mentioned preferential issue and increase in authorized capital is scheduled to be held on June 17, 2008.

The Board of Directors have approved the notice of the said Extra Ordinary General Meeting to be dispatched to the shareholders of the Company.

Source : Equity Bulls

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