H S India to increase authorised share capital, issue shares / warrants

H S India Ltd has announced that the Board of Directors of the Company at its meeting held on December 30, 2006 has decided the following:

1. To make expansion by means of adding facilities of Health Club, Coffee Shop and Executive Room, and to uplift & renovate hotel property.

2. To call and convene Extra-ordinary General Meeting of the shareholders of the Company on January 29, 2007 to transact the following businesses:

a. To increase Authorised Share Capital from Rs 12,00,00,000 divided into 1,20,00,000 equity shares of Rs 10/- each to Rs 16,00,00,000 divided into 1,60,00,000 equity shares of Rs 10/- each.

b. To amend Capital Clause V of Memorandum of Association of the Company.

c. To amend Article 3 of the Articles of Association of the Company.

d. To allot 50,00,000 convertible warrants on preferential basis at Rs 17.25 (Rs 10/- face value + Rs 7.25/- premium).

Source : Equity Bulls

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