Steel Strips Wheels - Outcome of EGM
Steel Strips Wheels Ltd has informed BSE that the Shareholders of the Company, at its Extra ordinary General Meeting held on June 28, 2008, inter alia, had approved the proposed resolution, with certain amendments, to offer, issue and allot Optionally Convertible Bonds (0CB) to M/s Tata Capital Ltd, up to an amount of Rs 20.00 Crore, by way of Preferential allotment. These OCB can be converted into fully paid up equity shares within 18 months from the date of issue of OCB, as per the terms and conditions mentioned in the approved resolution.
As per the approved Resolution, the relevant date is fixed as May 29, 2008, being 30 days prior to the date of Extra Ordinary General Meeting.
Tags: Steel Strips