Midas Pharmasec EGM approves issue of securities

Midas Pharmasec Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 01, 2009, inter alia, have considered and approved the increase in Authorised Share Capital from Rs 4 Crores to Rs 10 Crores and consequential changes in Capital Clauses of Memorandum and Articles of Association.

The Board also approved the Preferential Issue of 83,20,000 warrants convertible into equity shares of the Company (each warrant entitled to apply and allot one equity share of Rs 10/- each at par) for an aggregate value not exceeding Rs 8,32,00,000/- (Rupees Eight Crore Thirty Two Lac).

Source : Equity Bulls

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