PI Drugs to issue 3000000 shares to Fraxis Life Sciences Pvt Ltd

PI Drugs & Pharmaceuticals Ltd has announced that on receipt of consent letter of M/s. Fraxis Life Sciences Pvt Ltd, proposed allottee dt. March 21, 2007, addressed to the Company stating their consent to subscribe to the proposed issue of 3000000 equity shares of Rs 10/- each at a price of Rs 65/- per equity share an emergency Board Meeting was called on Match 21, 2007.

Further the Company has informed that, the Board of Directors of the Company at its meeting held on March 21, 2007, accepted January 31, 2007 as the revised relevant date being a date prior to 30 days from the date of adjourned EGM and revised price to Rs 65/- per share as arrived on the basis of revised relevant date on account of adjournment of Extra-ordinary General Meeting.

Source : Equity Bulls

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