Compact Disc seeks EGM approval for issue of warrants at Rs.21

Compact Disc India Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on March 12, 2007, inter alia, to offer, issue and allot up to 13,50,000 Convertible Warrants at a price of Rs 21/- each based on relevant date i.e. February 10, 2007 on a preferential basis in one or more tranches on such terms and conditions and in such manner as the Board may think fit, without offering the same to any other persons who at the date of offer are holders of the equity shares; each Warrant entitling the holder thereof to apply and be allotted one fully paid-up equity share of Rs 10/- each, at any time not exceeding eighteen months from the date of allotment of the Warrants in accordance with the SEBI (DIP) Guidelines and other relevant authorities as may be applicable such that the total number of equity shares to be issued by the Company upon conversion of the Warrants do not exceed 13,50,000 equity shares of Rs 10/- each to Interactive Creative Media Pte Ltd, Singapore, on such terms and conditions as may be decided and deemed appropriate by the Board of Directors of the Company (Board) at the time of issue of warrants, subject to necessary provisions & approvals.

Source : Equity Bulls

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