Atul Auto EGM approves issue of securities

Atul Auto Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 21, 2007, have accorded to the Board to create offer, issue and allot, from time to time, in one or more tranches or installments, Equity Shares and / or Fully Convertible Debentures / Partly Convertible Debentures / Optionally Convertible Debentures / Optionally Partly Convertible Debentures or any other convertible instrument or any other instrument, exchangeable with equity shares ("Securities") aggregating the amount of Rs 25 crores at such price including premium and on such terms and conditions as the Board may think proper at the appropriate time, to Qualified Institutional Buyers (QIBs), whether in India or abroad, as defined under Clause 2.2.2B (v) of SEBI (DIP) Guidelines, whether or not such QIBs are currently members of the Company, pursuant to Chapter XIII A of SEBI (DIP) Guidelines ("QIP Issue"), on such date or dates as may be determined by the Board but not later than 12 months from the date of this resolution to be subscribed on the basis of placement document(s), subject to necessary provisions and approvals.

Source : Equity Bulls

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