Binayak Tex to amalgamate companies, to issue shares on preferential basis

Binayak Tex Processors Ltd has announced that at the Board of Directors of the Company held on October 30, 2006, the discussion on the remaining two items of the agenda viz., the scheme of amalgamation of Valiant Glass Works Pvt Ltd, Jimtex Pvt Ltd and Benktesh Synth Processors Pvt Ltd with the Company and the proposal for preferential allotment / issue of Equity Shares or Warrants having an option to apply for the equity shares of the Company remained inconclusive and the Board has decided to meet again on November 04, 2006 to further discuss on these matters.

Source : Equity Bulls

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