Ankur Drugs to seek EGM approval for issue of shares

Ankur Drugs & Pharma Ltd has announced that the Board of Directors of the Company at its meeting held on April 28, 2007, has resolved to hold an Extra-ordinary General Meeting to transact following:

1. Increase in Authorised Capital from Rs 21 Crores to Rs 28 Crores.

2. Alteration of Memorandum of Associations Clause.

3. Alteration of Articles of Association.

4. Issue of Equity shares on Preference Basis of 10/- each at a premium of Rs 224/- to the following allottees:

a. Kampani Finance Ltd - 963000

b. Deutsche Securities Mauritius Ltd - 1,80,000

c. Blue Ridge Ltd Partnership and/or Blue Ridge Offshore Master Ltd Partnership and/or Blue Ridge Capital Offshore Holdings, LLC. - 9,00,000

5. Issue of Foreign Currency Convertible Bonds (FCCBs) not exceeding US$ 20 million.

6. To increase the borrowing powers from Rs 400 Crores to Rs 600 Crores.

Source : Equity Bulls

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