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

Binayak Tex Processors Ltd has announced that the Board of Directors of the Company at its meeting held on November 04, 2006, has approved and accepted the following business:

1. The proposal for preferential allotment of upto 2,00,000 equity shares of Rs 10/- each at a premium of Rs 140/- per equity share, to be approved by the shareholders of the Company at the ensuing EGM to be held on November 28, 2006.

2. Discussed the proposal for amalgamation of Valiant Glass Works Pvt Ltd, Jimtex Pvt Ltd and Benktesh Synth Processors Pvt Ltd with the Company and decided to pursue it immediately after the preferential allotment is made.

Source : Equity Bulls

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