Electrotherm India to issue equity shares

Electrotherm India Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 10, 2007, inter alia, to consider the following the business:

1. To enter into and authorise signatory for execution of Shareholder Agreement with India Advantage Fund VI (Investor).

2. To consider issue of 13,68,333 Equity Shares to The Western India Trustee and Executor Company Ltd (India Advantage Fund VI) for cash at a price of Rs 600/- per Equity Share and within the sanction / authority accorded by the special resolution passed by the Shareholders at their Extra-ordinary General Meeting held on March 01, 2007.

3. To consider issue of 9,75,000 warrants to Western India Speciality Hospital Ltd. at a price of Rs 600/- per equity share on conversion of warrants and within the sanction / authority accorded by special resolution passed by the shareholders at their Extra-ordinary General Meeting held on March 01, 2007.

Source : Equity Bulls

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