Fulford India to issue shares on preferential basis at Rs.575

Fulford India Ltd has announced that the Board of Directors of the Company at its meeting held on October 16, 2006, has resolved to convene an Extra-Ordinary General Meeting of the members of the Company on November 15, 2006, for the purpose of approving the proposal to issue 7,00,000 equity shares of the face value of Rs 10/- each, at a price of not less than Rs 575/- per equity share, including a premium of not less than Rs 565/- per equity share, to its promoter, Dashtag, U.K., [which is not less than the price with respect to the Relevant Date i.e. October 16, 2006, as prescribed under the Guidelines for Preferential Issues contained in Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines], by way of preferential allotment, subject to all other regulatory approvals. The post preferential allotment shareholding of Dashtag would be 19,80,000 equity shares constituting 50.77% of the paid-up share capital of the Company.

Source : Equity Bulls

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