Shri Lakshmi Cotsyn approves conversion of FCCBs worth USD 10,00,000 into equity shares

Shri Lakshmi Cotsyn Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 06, 2012, have considered and decided the following:1. Approved the increase in Authorised Share Capital from Rs. 50 Crores to Rs. 75 Crores.2. Approved the proposal for raising equity by way of preferential issue of share warrants upto 45 Lacs nos. to non-promoter / Strategic Investor at Rs. 150/- or SEBI Floor price, whichever is higher to meet out the partial cost of expansion project.3. The Board authorised Chairman to fix the date, venue and time for an Extra Ordinary General Meeting to obtain consent of the members regarding the aforesaid matters.4. Approved the conversion of Foreign Currency Convertible Bonds (FCCBs) worth USD 10,00,000 into equity shares.Source : BSE

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