Mukesh Steels to raise funds through preferential issue

Mukesh Steels Ltd has announced that the Board of Directors of the Company at its meeting held on February 24, 2007, has considered and approved to raise funds by way of issuance of 12,50,000 Preferential Equity Shares / Warrants convertible into equity at a price not less than Rs 13.50/- per share or at such other price as determined by SEBI (Substantial Acquisition & Take Over regulations), 1992 and other relevant guidelines issued for the purpose for the pricing of the issue, whichever higher subject however to passing of the resolution by the shareholders in the Extra Ordinary General Meeting (EOGM) to the persons to be named in the notice of EOGM.

Further Company has informed that, the Board has decided to call an Extra Ordinary General Meeting to be held on March 27, 2007.

Source : Equity Bulls

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