Shriram City Union extends validity of warrants

Shriram City Union Finance Ltd has announced that the Board of Directors of the Company at its meeting held on April 11, 2009 has, subject to the approval of shareholders of the Company and other statutory authorities, where required, approved the proposal to extend the validity of the following warrants issued by the Company on preferential allotment basis under Chapter XIII of the Securities and Exchange Board of India (Disclosure And Investor Protection) Guidelines, 2000 ("SEBI (DIP) Guidelines") from their original term of 12 months to 18 months from their respective dates of allotment.

The holders of said warrants are Bessemer Venture Partners Trust - 12,50,000, IDBI Trusteeship Services Ltd - 7,50,000, Van Gogh Ltd - 6,62,500 and Asiabridge Fund I LLC - 5,87,500.

All other terms and conditions of the aforementioned warrants issued in terms of the approval of the shareholders of the Company granted at their Extraordinary General Meeting held on May 03, 2008 will remain unchanged.

An Extraordinary General Meeting of the shareholders of the Company will be convened on May 11, 2009, to consider the approval of above proposal.

The stock closed on Thursday at Rs.322.25, down by Rs.0.75 or 0.23%. The stock hit an intraday high of Rs.325 and low of Rs.322.25.

The total traded quantity was 75 compared to 2 week average of 88.

Source : Equity Bulls

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