Shakti Pumps to issue warrants

Shakti Pumps India Ltd has announced that the members at the 11th Annual General Meeting (AGM) of the Company held on November 11, 2006, inter alia, have approved the declaration of final dividend at the rate of Rs 1.00 per share on the paid up equity share capital of the Company for the year ended June 30, 2006.

To de-list the equity shares of the Company from the M P Stock Exchange, Indore subject to necessary provisions and approvals.

Increase in Authorized Share Capital from Rs 5.50 Crores to Rs 9.00 Crores.

To vest increased borrowing powers on the Board of Directors of the Company exceeding the Paid- Up Capital and free reserves of the Company.

Issue of 1500000 Warrants Convertible into Equity Shares at a premium of Rs 117/— to promoter and prospective investor on preferential basis.

Source : Equity Bulls

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