Pacific Cotspin approves preferential allotment to promoters

Pacific Cotspin Ltd has announced that the Board of Directors of the Company at its Meeting held on December 22, 2006 has approved to make, subject to all Statutory Compliances/Approval, Preferential allotment of Equity Shares, not exceeding Rs 1.50 Crores in aggregate to the Promoters for funding the working Capital and expansion programme of the Company. It has been decided to obtain the approval of the said issue from the Shareholders in the ensuing Annual General Meeting.

Source : Equity Bulls

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