Champagne Indage approves preferential issue of 50 Lakh shares

Champagne Indage Ltd has announced that the Board of Directors of the Company at its meeting held on October 31, 2008, has approved the issue on preferential basis, not exceeding 50,00,000 Equity Shares and / or Convertible Equity Share Warrants carrying an entitlement to subscribe to an equivalent number of Equity Shares of Rs 10/- each to the identified investors, QIBs and promoters / promoter group entities at a price and on the terms and conditions to be determined in accordance with the applicable SEBI Guidelines. The Board has also authorised the Executive Committee to convene Extra Ordinary General Meeting for seeking approval of the Shareholders for the above issue, obtain other approvals as may be necessary and to take all necessary steps in this regard.

Source : Equity Bulls

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