Pacific Cotspin to issue shares on preferential basis

Pacific Cotspin Ltd has announced that in view of the delay in complying with some of the provisions of clause 13.3 of the SEBI (DIP) Guidelines on Preferential Issues, the Board of Directors of the Company has decided not to proceed further with the Preferential Issue duly approved by the shareholders of the Company at their Annual General Meeting held on September 23, 2006.

However, the Board also proposes to re-start the procedure to make the Preferential Issue to the promoters of the Company duly complying with all the provisions of SEBI (Disclosure and Investor Protection) Guidelines, 2000 on Preferential Issues and other applicable laws.

Source : Equity Bulls

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