Vijay Shanthi Builders to issue warrants to promoters

Vijay Shanthi Builders Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 31, 2007, inter alia, to consider the following:

1. Preferential issue of 45,00,000 Warrants to promoter group, with option to apply for equity shares at a future date, not exceeding 18 months from the date of Issue, at a price to be determined by the Board in accordance with SEBI Guidelines in this regard.

2. To Increase Borrowing powers of the Company from Rs 100 Cores presently to Rs 200 Crores.

3. To Convene EGM of the Members of the Company seeking their approval as requires under Companies Act, 1956 for the above.

Source : Equity Bulls

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