Flex Industries Board to consider raising funds for expansion plans

Flex Industries Ltd has announced that a meeting of the Board of Directors of the Company will be held on December 27, 2006, inter alia, to consider the following:BR>
1. Proposal for mobilising funds for the Company’s plans for expansion, modernisation, acquisitions, capital expenditure, other corporate purposes etc., through issue, offer and allotment against subscription in foreign currency, by way of Private Placement of equity shares / warrants on preferential basis and / or through prospectus and / or offering circular / letter, equity shares of the Company and / or any other equity related instrument and / or Global Depository Shares ("GDSs") and / or American Depository Shares ("ADSs") against the issue of underlying Shares and / or Foreign Currency Convertible Bonds ("FCCBs") convertible at the option of the holder into equity shares and / or GDSs, to resident or foreign institutional investors and such other persons resident outside India / companies / individuals as may be permitted under applicable law and policy whether or not they are members of the Company in such form as may be decided and in one or more tranches or as may be deemed appropriate.

2. To approve notice for the Extra General Meeting of the Shareholders and to fix date, time and venue for the same.

Source : Equity Bulls

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