Safari Industries approves preferential allotment of 390000 shares

Safari Industries India Ltd has announced that the Board of Directors of the Company at its meeting held on January 29, 2007, has approved preferential allotment of 390000 Equity Shares of Rs 10/- each for cash at the price of Rs 35/- per equity share (including premium of Rs 25/- per share) or as per SEBI (DIP) Guidelines 2000, which ever is higher, to the persons mentioned below on preferential allotment:

1. Mr. Jagdish N Seth (NRI): 1,95,000 no of equity shares
2. Mr. Shailesh J Mehta (NRI): 1,95,000 no of equity shares

Further the Company has informed that, an Extra Ordinary General Meeting of the members of the Company will be held on February 28, 2007, to approve the above said preferential allotment.

Source : Equity Bulls

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