Victory Projects to issue warrants & shares

Victory Projects Ltd has announced the Board of Directors of the Company at its meeting held on September 16, 2008, inter alia, has decided to issue 12,00,000 equity share warrants convertible into equity shares on preferential basis in accordance with SEBI - DIP Guidelines 2000 to the promoters and other selected independent subscribers.

The Board of Directors of the Company has decided to issue 12,00,000 equity shares on preferential basis in accordance with SEBI - DIP Guidelines 2000 to the promoters and other selected independent subscribers.

The Board or Directors of the Company has decided to convene an Extra Ordinary General Meeting of the shareholders of the Company on October 20, 2008 for obtaining the approval for the issue of above 12,00,000 equity share warrants convertible into equity shares on preferential basis and 12,00,000 equity shares on preferential basis to the promoters and other selected independent subscribers at a price to be determined in accordance with SEBI DIP Guidelines 2000, subject to necessary approvals.

Further the Company has informed that, the Board of Directors of the Company has decided to Change the name of the Company to TeleCanor Global Projects Ltd or any other name approved by the Registrar of Companies, Andhra Pradesh subject to other necessary approvals.

The Stock was trading at Rs.28.95, down by Rs.1.50 or 4.93%. The stock hit an intraday high of Rs.30.30 and low of Rs.28.95.

The total traded quantity was 258669 compared to 2 week average of 156352.

Source : Equity Bulls

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