Crew BOS to allot warrants, raise US$25 million through overseas issue

Crew BOS Products Ltd has announced that a Board Meeting of the Company shall be held on December 15, 2006, to consider and approve the following:

1. Preferential allotment of share warrants to Promoters of the company and other private business investors u/s 81(1A) of the Companies Act, 1956 subject to consent of the members of the Company.

2. To raise the funds up to US$ 25 million through Global Depositary Receipts (GDRs) / Foreign Currency Convertible Bonds (FCCBs) / American Depository Receipts (ADRs) or by way of private placement including Qualified Institutional Placement, etc. subject to the consent of the members of the company and all applicable laws of the country and approvals of statutory authorities, if any, whether in Indian currency or foreign currency and such issue and allotment to be made at such time or times, in such tranche or tranches, at such price or prices in such a manner as the Board/Committee of Directors, in its discretion think fit in consultation with the lead manager(s) and the underwriters, and otherwise on such terms and conditions as may be decided and deemed appropriate by the Board/Committee at the time of issue or allotment.

3. To decide the date, time and venue of the Extra Ordinary General Meeting for the aforesaid purpose.

Source : Equity Bulls

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