Sundaram Multi Pap to issue shares and warrants on preferential basis

Sundaram Multi Pap Ltd has announced that the Board of Directors of the Company at its meeting held on November 24, 2006, inter alia, has decided the following:

1. Considered issue of upto 30 Lacs equity shares of Rs 1/- each of the Company on Preferential basis in compliance with the provisions of Chapter XIII of the SEBI (Disclosure and Investor Protection) Guidelines, 2000.

2. Considered issue of upto 20 Lacs Optionally Fully Convertible Warrant (OFCW's) of Re 1/- each at a price arrived at as per Chapter XIII of the SEBI (Disclosure and Investor Protection) Guidelines, 2000 to the Promoter / Promoter Group / Friends / Associates.

3. Extra Ordinary General Meeting of the Company will be held on December 28, 2006 to approve the above referred Preferential issue of shares and Optionally Fully Convertible Warrant.

Source : Equity Bulls

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