Sterling Holiday Resorts approves preferential issue

Sterling Holiday Resorts India Ltd has announced that the Board of Directors of the Company at their adjourned Board Meeting held on December 22, 2008, inter-alia decided to convene an Extra-ordinary General Meeting on January 21, 2009.

The Board also approved the issue of warrants, shares on preferential basis, subject to the approval of the members at the ensuing Extra-ordinary General Meeting.

The company is planning to issue 58,83,276 Equity Shares on Preferential basis, by Private placement.

The company is planning to issue 30,00,000 Warrants on Preferential basis, by Private placement.

The company is also planning to alter Articles of Association.

Source : Equity Bulls

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