Gupta Synthetics EGM approves issue of 300000 warrants

Gupta Synthetics Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on October 07, 2006, have accorded to the Board to issue and allot up to 300000 Convertible Warrants which will be convertible into equal number of equity shares Rs 10/- each within 18 months from the date of allotment at the price of Rs 165/- per equity share (including share premium of Rs 155/- per share) being issued and allotted to domestic non promoters investors called "Preferential Shareholders", on preferential allotment basis without offering the same to any persons, without being required to seek any further consent of the Members, with the intent that the Members shall be deemed to have given their consent thereto expressly by the authority of this resolution.

Names of Preferential Shareholders:

1. Mr Chetan Mehta - 100000 (Maximum Number of Equity shares proposed to be issued on conversion of Warrants)

2. Mr Kamal Singh Bhutoria - 100000 (Maximum Number of Equity shares proposed to be issued on conversion of Warrants)

3. Mr Manoj Mittal - (Maximum Number of Equity shares proposed to be issued on conversion of Warrants)

Source : Equity Bulls

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