Rasoya Proteins to increase authorised share capital, issue shares on preferential basis

Rasoya Proteins Ltd has announced that the Board of Directors of the Company at its meeting held on December 12, 2006, inter alia, has approved the following items:

1. To increase the Authorised Share Capital of the Company from Rs 8.00 Crores to Rs 25 crores & consequential amendments in Memorandum & Articles of Association of the Company.

2. To issue offer and allot 30,00,000 Equity shares of the company on preferential basis, to persons other than Promoters.

3. To issue offer and allot 30,00,000 Shares warrants of the company on preferential basis to persons other than Promoters.

4. To increase in the Borrowing Powers of the company up to Rs 200 Crores.

The Board also decided to call the Extra Ordinary General Meeting to be held on January 08, 2007, to seek the approval of the shareholder of the company by approving the draft notice and resolutions as prepared for circulation to the shareholders.

Source : Equity Bulls

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