Sundaram Multi Pap EGM approves preferential issue

Sundaram Multi Pap Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 28, 2006, inter alia, have accorded the following business:

1. Approved the Preferential Issue of 30,00,000 equity shares of Re 1/- each at a price of Rs 16.50/- per share (Re 1/- face value + Rs 15.50/- premium) to the persons whose names have been included in the Notice / Resolution.

2. At the request of the shareholders present at the meeting as well as the representation received from the shareholders who have shown interest to participate in warrant issue, the proposed equity warrants to be issued to the promoters was deferred and accordingly the resolution was dropped.

Source : Equity Bulls

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