Bilcare Board recommends issue of 15,00,000 warrants

Bilcare Ltd has announced that the Board of Directors of the Company at its meeting held on November 23, 2006 has recommended to issue and allot 15,00,000 Warrants, convertible into Equity Shares, to Mrs Nutan Bhandari, who is a part of Promoter Group and wife of Mr Mohan Bhandari, Managing Director of the Company, subject to approval of Members of the Company and other required statutory approvals.

The preferential offer will be made at a price arrived at in terms of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000.

An Extra ordinary General Meeting of the Members of the Company is scheduled to be held on December 23, 2006 to seek Member’s approval for issue and allotment of said Warrants.

Source : Equity Bulls

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