Dollex Industries approves fund raising plan

Dollex Industries Ltd has announced that the Board of Directors of the Company at its meeting held on June 19, 2009, inter alia, has approved the increase of Authorised Share Capital of the Company from Rs 20,00,00,000/- to Rs 50,00,00,000/- and approve the Consequent ional changes in Memorandum and Articles of Association of the Company.

The Board approved issue of 2,51,30,000 Convertible Warrants into Equity Shares on preferential basis subject to SEBI guidelines. The relevant date for the pricing of the aforesaid Issue is June 20, 2009.

The Board also approved issue of Global Depository Receipts not exceeding USD 15 million subject to necessary statutory compliances.

The Board has called for Extra-ordinary General Meeting of the members of the Company to be held on July 20, 2009.

The Board approved appointment of Mr. Anis Khan as a CEO of the Company.

Source : Equity Bulls

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