Sacheta Metals updates on expansion plans

Sacheta Metals Ltd has announced that the Board of Directors of the Company at its meeting held on March 21, 2007, inter alia, has taken following decisions:

1. To increase the existing production capacity at the Talod Plant to 6000 MT per annum at an estimated cost of Rs 6 crores.

2. To, issue, subject to approval of the shareholders, equity shares / option-warrants to promoters and persons other than existing shareholders of the Company, of not more than 50,00,000 equity shares at a price which shall not be less than the price determined under the provisions of the guidelines issued by the SEBI in this regard.

3. To increase, subject to the approval of the shareholders, the authorised share capital of the Company to Rs 15 crores.

4. To re-issue, subject to the approval of the shareholders, 1,07,500 equity shares forfeited earlier by the Company.

Source : Equity Bulls

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