Shriram City Union CoD Meeting approves preferential issue

Shriram City Union Finance Ltd has announced that the Business Development Committee of Directors (CoD) at its meeting held on December 29, 2006, has allotted to:

1. Van Gogh Ltd : 40,00,000 Equity shares of Rs 10 each.

2. Shriram Enterprise Holdings Pvt Ltd : 35,00,000 warrants convertible at the option of the holder into Equity Shares of Rs 10 each at the rate of 1 Equity Share for every warrant for cash on preferential basis at the rate of Rs 160/- per share (including a premium of Rs 150/- per share) being the price higher than the price determined under Chapter XIII of SEBI (Disclosure and Investor Protection) Guidelines, 2000 as amended.

Source : Equity Bulls

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