Garware Wall to issue shares, warrants

Garware Wall Ropes Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 21, 2006, inter alia, to consider the following proposals:

1. To issue Equity Shares, American Depository Receipts (ADR), Global Depository Receipts (GDR), Foreign Currency Convertible Bonds, in course of international offerings, not exceeding USD 10.0 Million;

2. To issue 27,46,000 Convertible Warrants to Promoters;

3. To issue 9,98,000 Convertible Warrants to proposed Employees Welfare Trust.

Source : Equity Bulls

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