KLG Systel to issue warrants, shares on preferential basis

KLG Systel Ltd has announced that a Meeting of the Board of Directors of the Company will be held on December 05, 2006 to consider the following:

1. Discuss the matter regarding issue of warrants / equity shares to promoters on Preferential allotment basis with an option to apply for and be allotted shares on conversion of warrants and take further steps as may be considered necessary in this regard.

2. Discuss the matter regarding borrowing in excess of the Paid up Capital and its Free Reserves for the purpose of further expansion, diversification etc.

Source : Equity Bulls

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