Lok Housing to raise resources, increase authorised capital

Lok Housing & Constructions Ltd has announced that the Board of Directors of the Company at its meeting held on November 25, 2006, has transacted the following:

1. To increase Authorised Capital of the Company from Rs 50,00,00,000 to 60,00,00,000.

2. To issue GDR / ADR / FCCBs / Other Financial Instruments etc., not exceeding US $200 Millions subject to approval of various statutory bodies / shareholders of the Company.

3. To convene EGM of shareholders of the Company on December 27, 2006 for the approval of the above referred items.

Source : Equity Bulls

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