Speciality Papers Ltd to raise funds for expansion plans

Speciality Papers Ltd has announced that the Board of Directors of the Company at its meeting held on March 20, 2007, to consider options for raising finance for the Company's on going expansion cum modernization project.

The Board of Directors of the Company has after considering various options of raising funds decided on funding of the expansion cum modernization project through a Rights Issue of equity shares to the existing shareholders of the Company.

For this purpose, the Board of Directors has formed a Committee who have been authorized by the Board of Directors to carry out all activities related to the proposed Rights Issue and decide the ratio and price of the proposed issue.

Source : Equity Bulls

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