Shreyas Shipping to consider acquisition of companies

Shreyas Shipping & Logistics Ltd has announced that a meeting of the Board of Directors of the Company will be held on December 09, 2006,inter alia, to consider:

1. The proposal to invest, either by itself or through its subsidiary, an aggregate amount not exceeding Rs 150 crores in potential acquisition opportunities in India or overseas and /or to make equity investments in Indian Companies or Companies registered overseas engaged in warehousing / road transport / logistics activities and to raise funds for this purpose by alternative modes and from sources, both domestic and overseas.

2. The proposal for utilization of Shares / Securities Premium pursuant to the provisions for reduction of capital under Section 100 to 104 read with section 78 and other applicable provisions, if any, of the Companies Act 1956 for setting off expenditure incurred or to be incurred towards refurbishment and upgradation of the Company's fleet, etc.

Source : Equity Bulls

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