Bodal Chemicals seeks EGM approval for issue of shares

Bodal Chemicals Ltd has announced that an Extraordinary General Meeting (EGM) of the members of the Company will be held on December 19, 2006, inter alia, to transact the following:

1. To increase the present Authorized Share Capital of the Company from Rs 15,00,00,000/- divided into 1,10,00,000 Equity Shares of Rs 10/- each and 40,00,000 Preference Shares of Rs 10/- each to Rs 27,00,00,000/- divided into 2,30,00,000 Equity Shares of Rs 10/- each and 40,00,000 Preference Shares of Rs 10/- each and consequential amendments in the Memorandum of Association of the Company.

2. To offer, issue and allot on right basis to the existing equity shareholders of the Company, such numbers of equity shares of the face value of Rs 10/- each, for an aggregate value not exceeding Rs 25 crores, at such premium and other terms of the issue offer as may be determined by the Board in its absolute discretion, subject to necessary provisions & approvals.

3. To de-list the Equity shares of the Company from the "The Stock Exchange, Ahmedabad", subject to necessary provisions & approvals.

Source : Equity Bulls

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