Confidence Petroleum EGM approves issue of warrants

Confidence Petroleum India Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 06, 2006, inter alia, have accorded to the following:

1. To allot the 5,00,00,000 warrants of Rs 1/- each convertible into equal number of equity shares of Rs 1 each on Preferential Basis to Strategic Investors.

2. To Increase the Authorised Share Capital of the Company from Rs 5,00,00,000 divided into 5,00,00,000 Equity Shares of Rs 1 each to Rs 21,00,00,000 divided into 21,00,00,000 Equity Shares of Rs 1 each and consequent amendment in memorandum & articles of association of the Company.

Source : Equity Bulls

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