Ganesh Housing Board approves increase in FII limit, authorised share capital

Ganesh Housing Corporation Ltd has announced that the Board of Directors of the Company at its meeting held on December 15, 2006 has taken the following decisions:

1. To Increase Authorised Share Capital of the Company from Rs 20,00,00,000 divided into 2,00,00,000 Equity shares of Rs 10/- each to Rs 50,00,00,000 divided into 5,00,00,000 Equity shares of Rs 10/- each.

2. To raise maximum limit of investment by FII up to 49% of paid up share capital.

3. To offer/issue/allot equity shares not exceeding 70,00,000 to such person or persons, who may or may not be the shareholders of the Company, as the Board or a Committee thereof may at its sole discretion decide, including one or more of the members, promoters, employees, Non-resident Indians, Foreign Institutional Investors (FIIs), Qualified Institutional Buyers, bodies corporate including mutual funds, banks, insurance Companies, private or public or other entities, authorities and to such other persons in one or more combinations thereof, whether through public issue, rights issue, qualified institutions placement or through any other financial instrument, in the domestic or international markets, in one or more modes or combinations thereof and in one or more trenches, in consultation with advisors as per SEBI (Disclosure & Investor Protection) Guidelines, 2000.

4. To convene Extraordinary General Meeting of shareholders on January 17, 2007 to seek their approval for the above items.

Source : Equity Bulls

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