Dwarikesh Sugar EGM approves issue of warrants, preference shares

Dwarikesh Sugar Industries Ltd has announced that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on June 30, 2007, inter alia, have approved the following resolutions:

1. Increase in authorised share capital by Rs 15 crores by creation of 15 lakh cumulative redeemable preference shares of Rs 100 each and consequential amendment in Memorandum of Association and Articles of Association on account of the said increase.

2. Issue of 15 lakhs warrants (convertible into 15 lakh equity shares) to promoters group or persons acting in concert or on private placement basis.

3. Issue of 15 lakhs redeemable cumulative preference shares in one or more tranches on such terms or may be decided by the Board or duly authorised committee.

Source : Equity Bulls

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