|
The board
of directors of the company at its meeting held
today has interalia decided to:
a) Issue 1,85,00,000 warrants of face value
of Rs.10 each to promoter/promoter group on
preferential allotment basis, entitling the
holder of warrant to apply for and obtain allotment
of one equity share against each warrant for
an aggregate amount of Rs.1,000 crore (approx)
in accordance with the provisions of Section
81(1A) and all other applicable provisions of
the Companies Act, 1956 and pursuant to the
provisions of the Chapter XIII of the Securities
and Exchange Board of India (Disclosure and
Investor Protection) Guidelines 2000 [ SEBI
(DIP) Guidelines].
b) Convene an Extra Ordinary General Meeting
for the approval of aforesaid preferential issue/
allotment on Wednesday the 17 June 2009 at the
registered office of the company at Indian Rayon
compound, Veraval, Gujarat.
|