Vijay Shanthi to issue warrants at Rs.56, seeks EGM approval

Vijay Shanthi Builders Ltd has announced that the Board of Directors of the Company at its meeting held on November 22, 2006 has resolved the following:

1. To make Preferential Issue of 1906300 warrants with an option to convert in to equity shares at a future date, not exceeding 18 months from the date of issue. Such warrants shall be convened in to equity shares at a ratio of 1 equity share per warrant at a price of Rs 56/- per share (including premium of Rs 46/- per share) either in one or more instalments but not exceeding 18 months from the date of allotment of such warrants.

2. Increasing borrowing powers of the company from Rs 100 crores presently to Rs 200 crores.

3. Convene EGM of the Company to be held on December 18, 2006 for seeking members approval for both the above resolution.

Source : Equity Bulls

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