IKF Technologies AGM approves issue of warrants

IKF Technologies Ltd has announced that the members at the Annual General Meeting (AGM) of the Company held on September 28, 2006, inter alia, have approved the issue and allotment of 3,00,00,000 warrants @ Rs 7/- each with an entitlement to convert into/exchange with the equal number of Equity Shares of the Company in one or more tranches at the option of the warrant holders within a period of 18 months from the date of issue of such convertible warrants, subject to the provisions of Section 81(1A) of the Companies Act, 1956, the Memorandum and Articles of Association of the Company, the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 Listing Agreement and guidelines issued by the Reserve Bank of India or other competent authorities in this behalf and other applicable provisions, if any. The warrants are being issued to the Non Promoters Group.

Source : Equity Bulls

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