Energy Development seeks EGM approval for warrants issue

With reference to earlier announcement dated July 30, 2008 regarding the Board of Directors have proposed to issue 40,00,000 warrants convertible into equivalent number of equity shares on preferential basis at a price to be determined in accordance with the SEBI Guidelines to the Non-promoters / Promoters / Promoters' Group, Energy Development Company Ltd has now announced that an Extra-Ordinary General Meeting of the Members of the Company will be held on August 27, 2008.

The relevant date for this Preferential Issue is July 28, 2008, prior to 30 days from EGM. In compliance with the SEBI (DIP) Guidelines, 2000, the price for aforesaid Preferential Issue on the basis of relevant date i.e. July 28, 2008, is Rs 135/-.

Source : Equity Bulls

Keywords