Iykot Hitech to consider preferential issue on Jun 15, 2009

Iykot Hitech Toolroom Ltd has announced that a meeting of the Board of Directors of the Company will be held on June 15, 2009, inter alia, to consider and approve the Preferential issue of equity shares or convertible warrants, by way of private placement to the Promoter / Persons acting in concert group, in order to raise further equity capital of Rs 150 lakhs, as sanctioned by BIFR in its Rehabilitation Scheme vide its Order dated January 31, 2007, for funding the margin requirements for proposed additions to fixed assets and for investment in working capital and to take further steps in this matter.

Source : Equity Bulls

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