Punj Lloyd clarifies on announcement regarding re-organization of capital

With reference to the earlier announcement dated February 06, 2007 regarding the re-organisation of authorised share capital of the Company, raising of funds and preferential allotment of warrants to promoters, Punj Lloyd Ltd has clarified as under:

"(a) that the existing authorised capital of the Company consist of 6,00,00,000 equity shares of Rs 10/- each and 2,00,00,000 preference shares of Rs 10/- each. The present proposal is to reorganise the authorised capital by cancelling 1,00,00,000 preference shares and in lieu thereof create 1,00,00,000 equity shares of Rs 10/- each and to split the equity shares of Rs 10 each into 5 equity shares of Rs 2/- each. As a consequence, the total authorised capital of the Company will become 35,00,00,000 equity shares of Rs 2/- each and 1,00,00,000 preference shares of Rs 10/- each.

(b) the raising of funds through appropriate securities including but not limited to issuance of equity shares not exceeding 1,75,00,000 will be of face value of Rs 2/- each. Also equity shares not exceeding 80,00,000 to be allotted on exercise of warrants proposed to be issued to promoters will be of Rs 2/- each."

Source : Equity Bulls

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