Sahara Housingfina to approve preferential issue through Notice of Postal Ballot

Sahara Housingfina Corporation Ltd has announced that the members of the Company will consider to approve the following Special resolution by way of Postal Ballot, to issue and offer 70 Lac Equity Shares of Rs 10/- each for cash at such premium as may be decided by the Board in consultation with the Merchant Bankers to aggregate a sum not exceeding Rs 30 Cr. on Rights Basis in the ratio of 1:1, i.e. 1 Equity Shares of Rs 10/- each for every 1 Equity Shares held of Rs 10/- each, to the existing Equity Shareholders of the Company whose names appear in the Register of Members of the Company as on such date, being "The Record Date" in this behalf to be fixed by the Board in consultation with Stock Exchange(s), subject to necessary provisions & approvals.

The Company has appointed Mr P V Subramanian, ACS, LLB, Practicing Company Secretary, as Scrutinizer for conducting the postal ballot exercise.

The Postal Ballot form duly completed should reach the Scrutinizer not later than the close of working hours on December 22, 2006. The result of the postal ballot shall be announced on December 27, 2006.

Source : Equity Bulls

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