Silverline Technologies EGM on Oct 12, 2006 to raise funds

Silverline Technologies Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on October 12, 2006, to issue, offer and allot, in the course of international offerings, in one or more foreign markets, equity shares / preference shares / convertible debentures/ convertible notes/ Foreign Currency Convertible Bonds (FCCB’s) / Secured Premium Notes (SPN) and / or any securities convertible into equity shares at the option of the Company and / or holder of the securities and / or securities linked to equity shares through American Depository Receipts (ADR’s) and / or Global Depository Receipts (GDR’s) and / or any other instruments or securities (Securities) subscribed to in foreign currency(ies), for cash or stock swap or for other valuable consideration including strategic alliances, business(es) or a combination thereof, to Foreign Investors (whether Institutions and or Incorporated Bodies and or Individuals and whether or not such investors are members of the Company) through Public Issue(s), Private Placement(s), Preferential Allotment(s), which upon conversion of all Securities so issued or allotted, could give rise to the issue upto 50,000,000 underlying new Equity shares (inclusive of such premium as may be determined) and such issue and allotment to be made at such time or times, in one or more tranches, at such price or prices, on such terms and condition including security, rate of interest and in such manner as the Board may, in its absolute discretion think fit, in consultation with the Lead Manager(s) / Investment Banker(s) and / or the Underwriters subject to guidelines of the Reserve Bank of India (RBI), Securities & Exchange Board of India (SEBI) and Ministry of Finance, and otherwise on such terms and conditions as may be decided and deemed appropriate by the Board at the time of issue or allotment, subject to necessary provisions & approvals.

Source : Equity Bulls

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