Sharon Bio Medicine EGM approves fund raising proposal

Sharon Bio Medicine Ltd has announced that has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 15, 2007, inter alia, have accorded to the following & the Board of Directors has been authorized for:

1. Issue of FCCBs for an amount not exceeding Rs 200 crores.

2. Preferential allotment of 1,50,000 equity shares to M/s Pharmtak Ltd, Mauritius at a Price of Rs 300/- per share.

3. Preferential allotment of 3,75,000 warrants to M/s Asis Industries Ltd at a price of Rs 300/- per warrant.

4. Issue of Equity shares or Convertible instruments to Qualified Institutional Buyers (QIBs) for an amount not exceeding Rs 200 crore.

Source : Equity Bulls

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