Temptation Foods to issue warrants to promoters

Temptation Foods Ltd has announced that the Board of Directors of the Company at its meeting held on July 30, 2007, inter alia, has taken following decisions:

1. Issue of Warrants to the Promoters of the Company so as to increase their minimum shareholding of 51%, post increase in the paid-up share capital of the Company due to issue of the proposed Fully Convertible Bonds under Chapter 13A of the SEBI (DIP) Guidelines and conversion of the Bonds into Equity Shares.

2. Issue of Equity Shares on preferential basis to fund the proposed business acquisitions and normal business requirement. The number of shares to be issued and the offerees to be decided in subsequent meeting of the Board of Directors.

Source : Equity Bulls

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