Liberty Phosphate to allot 28 Lakh shares on preferential basis

Liberty Phosphate Ltd has announced that the Board of Directors of the Company at its meeting held on August 04, 2008, inter alia, has decided the following subject to approval of shareholders.

To offer, issue and allot 28,00,000 nos. of equity shares of Rs 10/- each of the Company on preferential allotment basis to promoter group and non promoter group for cash consideration at a price of Rs 18/- per share being the price slightly higher than the price to be calculated as prescribed under Guidelines for Preferential Issues contained in Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, as Amended, with respect to the Relevant Date i.e. August 04, 2008, being the date 30 days prior to the date of the Extra Ordinary General Meeting.

Further the Company has informed that, to take the approval of shareholders in respect of above matter, it has been decided to call Extra Ordinary General Meeting on September 03, 2008 and the notice in respect of the EGM has been approved by the Board.

Source : Equity Bulls

Keywords