Wire & Wireless India to issue convertible warrants to Jayneer Capital Pvt Ltd

With reference to the earlier announcement dated January 30, 2007 regarding as a part of the aforesaid fund raising programme, Wire & Wireless India Ltd has announced that, the Board of Directors of the Company at its meeting held on January 29, 2007, has also approved, subject to approval of shareholders and prescribed authorities and such other approvals if any, to make a preferential issue of convertible warrants to Jayneer Capital Pvt Ltd, a promoter group Company, upto a sum of approx. Rs 131 Crores. The warrants would be convertible into equity shares of the Company at a price of Rs 122/-, as per the regulatory guidelines in force. An Extra Ordinary General Meeting of the Company is scheduled to be held on February 26, 2007 for the approval of above fund raising.

Source : Equity Bulls

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