Saven Technologies to issue warrants

Saven Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on August 22, 2007, inter alia, has considered & approved the following:

1. Decided place before the ensuing AGM Special resolution for issuing 3,00,000 warrants convertible into 3 equity shares of face value of Rs 10 each at a price of Rs 10/- each on preferential basis to a Key Management Person. The issue price has been arrived at as per SEBI pricing formula for the preferential issue.

2. Decided to place before the ensuing AGM Special resolution tot issuing 20,00,000 warrants convertible into 20,00,000 equity shares of face value of Rs 10/- each at a price of Rs 10/- each on preferential basis to the Promoter and Promoters. The issue price has been arrived, at as per SEBI pricing formula for the preferential issue.

3. Decided, to convene the Annual General Meeting of the Company to be held on September 20, 2007 for approval of the members for the above.

Source : Equity Bulls

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