Igarashi Motors BOard to consider preferential issue

Igarashi Motors India Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 30, 2006, inter alia, to consider the following:

1. Proposal to raise capital by way of Preferential Issue / Qualified Institutional Placement (QIP) by issuing Equity Shares / Convertible Debentures / warrants or other securities subject to the approval of shareholders;

2. Corporate initiatives including organic and in-organic growth options and possible Strategic Alliances;

3. To recommend for shareholders approval to authorize Board of Directors of the Company for creation of charges / mortgage / hypothecation etc., under Section 293(1)(a) of the Companies Act, 1956;

4. To decide the date and time of Extra-Ordinary General Meeting.

Source : Equity Bulls

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