MVL EGM on May 11, 2009 to approve issue of securities

MVL Ltd has announced that an Extra Ordinary General Meeting (EGM) of the Members of the Company will be held on May 11, 2009, inter alia, to approve the issue of securities.

To issue and allot 71,28,755 (Seventy One Lakh Twenty Eight Thousand Seven Hundred Fifty Five) Convertible Warrants (Warrants) for cash to Bennett, Coleman & Co Ltd (BCCL), a non-promoter, on the terms and conditions, subject to necessary provision and approvals.

To issue and allot 1,00,000 (One lac only) Zero Coupon Unsecured Fully Convertible Debentures (FCDs) of face value of Rs 100/- each aggregating to Rs 1,00,00,000 (Rupees one crore only) ("Subscription Amount") for cash to DB Corp Ltd (DBCL) a non-promoter, on the terms and conditions, subject to necessary provision and approvals.

Source : Equity Bulls

Keywords