Bilcare EGM approves issue of 15,00,000 warrants at Rs.535

Bilcare Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 23, 2006, have considered, approved and authorised issuance and allotment of 15,00,000 Warrants entitling to apply for one Equity Share against each Warrant on a preferential basis at a price of Rs 535/- (including premium of Rs 525/-), being conversion price, of face value of Rs 10/- each of aggregate value of Rs 80.25 crores, to be converted into Equity Shares within a period of eighteen months from the date of allotment, in either one tranche or in more than one tranches, with respect to the Relevant Date i.e. November 23, 2006, as prescribed under the Guidelines for Preferential Issues contained in Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, to be subscribed by Mrs Nutan Bhandari, who is a part of Promoter Group and wife of Mr Mohan Bhandari, Chairman and Managing Director of the Company.

Source : Equity Bulls

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