Raunaq Automotive to issue 19 lakh warrants

Raunaq Automotive Components Ltd has announced that the Board of Directors of the Company at its meeting held on September 01, 2008, inter alia, has considered and approved the issue of 19,00,000 (Nineteen Lacs) convertible warrants (to be converted into equal number of shares within a period of 18 months) @ Rs 19/- per warrant which is in accordance with SEBI Guidelines for issue of preferential allotment.

The relevant changes required in Memorandum and Articles of Association.

The said issue of Convertible Warrants is subject to the approval of the Shareholders at their forthcoming AGM to be held on September 29, 2008.

Source : Equity Bulls

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