Borosil Glass seeks EGM approval for issue of warrants

Borosil Glass Works Ltd has announced that an Extra-Ordinary General Meeting (EGM) of the members of the Company will be held on January 04, 2007, to create, offer, issue and allot upto 534850 Warrants carrying a right to subscribe to equal number of equity shares in the Company ("Warrants?) to (1) Gujarat Fusion Glass Ltd, (2) Croton Trading Ltd and (3) Fennel Investments and Finance Pvt Ltd, promoter companies on preferential basis on such terms and conditions and in such manner as the Board may think fit without offering the same to person(s) / shareholders / members who on the date of offer are holders of the equity shares in the Company, subject to necessary provisions and approvals.

The holders of the Warrants so issued, shall have right to subscribe equal number of equity shares of nominal value of Rs 10 each at a premium of Rs 266.50 computed in accordance with Chapter XIII (Guidelines for Preferential Issues) of the SEBI (Disclosure and Investor Protection) Guidelines, 2000 as amended from time to time.

Source : Equity Bulls

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