Bombay Rayon Board to consider and approve allotment of warrants at Rs.207

Bombay Rayon Fashions Ltd has announced that a meeting of the Board of Directors of the Company will be held on December 19, 2006, inter alia, to consider and approve the Allotment of 61,00,000 Convertible Warrants ("Warrants") to Bombay Rayon Clothing Ltd, an entity belonging to Promoter Group, each Warrant being convertible, at the option of the Warrant holder, within a period of 18 months from the date of issue, into one Equity Share of Rs 10/ each for cash at an exercise price of Rs 207/- determined in accordance with SEBI Guidelines for Preferential Issues.

Source : Equity Bulls

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