Archies to issue shares to Bennett, Coleman & Co. Ltd

Archies Ltd has announced that the Board of Directors of the Company at its meeting held on March 26, 2007, inter alia has transacted the following Business:

(i) To offer, issue and allot

1. 2,50,000 Equity Shared to Bennett, Coleman & Co, Ltd, in accordance with the provisions of Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, and other Laws, Rules, Regulations wherever applicable.

2. 10,00,000 Warrants convertible into Equity Shares to promoter / promoters groups and Other Entities in accordance with the provisions of Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, other Laws, Rules Regulations wherever applicable.

(ii). To convene Extra Ordinary General Meeting of the Shareholder of the Company on April 19, 2007, to accord the consent of the Company for issue and allotment of said Shares and Warrants.

Source : Equity Bulls

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