Sujana Universal EGM approves preferential issue, to raise US$ 15 million through GDR

Sujana Universal Industries Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on October 18, 2006, have passed the following resolutions:

1. Increase of Authorised Share Capital of the Company from Rs 80.00 Crores to Rs 110.00 Crores.

2. Issue of Equity Shares/Warrants by way of Preferential Allotment U/S 81 (1A) of the Companies Act, 1956 to the extent of Rs 6.30 Crores consisting of 30,00,000 equity shares of Rs 10/- each and 33,00,000 warrants of Rs 10/- each to the promoters group.

3. Issue of Equity Shares by way of issue of GDRs etc., to the extent of US$ 15.00 Million.

Source : Equity Bulls

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