Sharyans Resources Board to consider issue of shares on preferential basis

Sharyans Resources Ltd has announced that a meeting of the Board of Directors of the Company will be held on April 04, 2007, inter alia, to transact the following business:

1. To allot on a preferential basis 18,40,000 equity shares to the selected persons and 5,00,000 equity shares together with 10,00,000 convertible warrants to the promoter group for cash at a price of Rs 230/- per share to the persons in accordance with the terms and conditions as mentioned in the Extra Ordinary General Meeting Notice dated February 17, 2007 as well as in due compliance of the Guidelines for Preferential Issues contained in Chapter XIII of the SEBI (Disclosure & Investor Protection) Guidelines 2000, as amended.

2. To allot 10,00,000 equity shares to Kempro Traders Pvt Ltd (part of promoter group) pursuant to the exercise of 'conversion option' of the warrants allotted to them on June 02, 2006.

Source : Equity Bulls

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