Kotawala India shareholders approve preferential allotment of 20,00,000 warrants

Kotawala India Ltd has announced that the Board of Directors of the Company at its meeting held on January 30, 2007, inter alia, has considered and approved the following:

1. A committee of the Board of Directors comprising of Mr. S N Sharma, Managing Director and Sandeep Sharma, Director was formed for the purpose of making Preferential allotment subject to obtaining in principle approval. The shareholders approved the preferential allotment of 20,00,000 warrants convertible into 20,00,000 equity shares of Rs 10/- each at a premium of Rs 25/-, at the Extra Ordinary General Meeting of the Company held on January 18, 2007.

Source : Equity Bulls

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