Gayatri Projects EGM approves issue of FCCB / securities

Gayatri Projects Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 21, 2006, have accorded the following:

1. Issue of FCCB's / other securities to be subscribed in foreign currency which at the option of the holders of the Securities may be converted into equity shares of the Company up to 30 Million USD.

2. Increase of Authorised capital of the Company from Rs 12 crores to Rs 15 crores.

3. Shifting of Registered office of the Company from the state of Maharashtra to the state of Andhra Pradesh subject to requisite approvals.

Source : Equity Bulls

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