Exdon Trading to raise funds

Exdon Trading Company Ltd has announced that the Board of Directors of the Company at its meeting held on April 16, 2009, has decided to increase the Authorized Capital from the existing Authorized Capital of Rs 75,00,00 (Rupees Seventy Five Lakhs only) to Rs 4,75,00,000 (Rupees Four Crores Seventy Five Lakhs only) by issuing 40,00,000 (forty lakhs) equity shares of Rs 10/- each.

To raise funds to the tune of Rs 3,76,50,000 (Rupees Three Crore Seventy Six Lakhs Fifty Thousand only) by offering, issuing and allotting 37,65,000 Convertible Equity Warrant on preferential basis, subject to consent of shareholders of the Company.

To convene an Extra Ordinary General Meeting of the members of the Company on May 25, 2009.

The Board considered and approved Draft notice for the Extra Ordinary General Meeting and authorizes the Secretary / Director or other person to issue the notice convening the Extra Ordinary General Meeting.

Source : Equity Bulls

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