Intec Securities AGM approves issue of warrants

Intec Securities Ltd has announced that the members at the 12th Annual General Meeting (AGM) of the Company held on September 28, 2006, inter alia, have authorised the Board to create, offer, issue and allot 25,00,000 Convertible Warrants of Rs 40/- each carrying a right to subscribe to equal number of equity shares in the Company on Conversion within a period of 18 months from the date of allotment ("Warrants") in cash aggregating to Rs 10,00,00,000/- which price is calculated in accordance with the Guidelines for preferential issue Issued by SEBI under Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, with August 29, 2006, being the relevant date i.e. the date 30 days prior to the date of Annual General Meeting of the Company, where the proposed issue is to be considered and shall be payable before the Date(s) of allotment, on such terms as may be deemed appropriate by the Board, on preferential basis, of an amount not exceeding Rs 10,00,00,000/- in the aggregate, subject to necessary provisions & approvals.

Source : Equity Bulls

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