Surana Industries to consider preferential issue, FCCB

Surana Industries Ltd has announced that the Board of Directors of the Company at its meeting held on December 04, 2006 had considered and approved the following business:

1. To consider the proposal for Preferential Issue of Equity Shares to the Promoters of the Company.

2. to consider the proposal for Preferential Issue of Equity Shares to Select Group of Persons (Non Resident Indian) who are not part of the Promoter Group.

3. To Consider the proposal for Preferential Issue of Foreign Currency Convertible Bonds (FCCB) to Select Group of Persons (Foreign Body Corporates/Nationals) who are not part of the Promoters Group.

4. To Consider the Proposal for Preferential Issue of warrants to the promoters of the Company.

5. To consider the proposal for Increasing the Foreign shareholding Limits in the Company to the extent of 95% of the Paid up capital.

Source : Equity Bulls

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