Simplex Trading & Agencies to raise Rs 2.50 crore

Simplex Trading & Agencies Ltd has announced that the Board of Directors of the Company at its meeting held on August 28, 2009, inter alia, has decided to increase authorized share capital of the Company up to Rs. 5,00,00,000 (Rupees Five Crore only) by issuing 25,00,000 (Twenty Five Lakhs) equity shares of Rs. 10/- each, subject to consent of the shareholders of the Company.

The Board will raise fund to the tune of Rs. 2,50,00,000 (Rupees Two Crore Fifty lakhs only) by offering, issuing and allotting convertible warrants on preferential basis, subject to consent of the shareholders of the Company.

The Board will convene Annual General Meeting of the members of the Company on September 30, 2009.

The Board also approved the draft notice for Annual General Meeting is duly approved by the Board and authorizes any of the Directors or any other person to issue the notice convening Annual General Meeting of the Company.

Source : Equity Bulls

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