Hazoor Media to raise funds through issue of shares, increase capital

Hazoor Media & Power Ltd has announced that the Board of Directors of the Company at its meeting held on October 26, 2006, inter alia, has considered and authorized Mr Vijendra Garg, Director to make necessary actions for the following:

1. Issue of further share capital by one or more of the following modes:

- Public Issue
- Rights Issue
- Offerings to Qualified Institutional Buyers pursuant to Guidelines issued by SEBI for Qualified Institutions Placement (QIP).
- Issue of Equity Shares or Equity linked securities with or without voting rights, American Depository Receipts (ADRs), Global Depository Receipts (GDRs), Convertible / Non-Convertible Debentures, Redeemable Preference Shares, Secured Premium Notes (SPNs), Floating Rate Bonds and / or other securities instruments.

2. Increase in Authorised Share Capital of the Company to adequately cover the proposed issue of equity shares.

3. Issue of Notice convening extra-Ordinary General Meeting for obtaining approval of the shareholders for the aforesaid matters and proposed bonus issue recommended in earlier board meeting.

Source : Equity Bulls

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