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2 March 2007
Hindalco board approves issue of preferential
shares/warrants
Pursuant to the provisions of Section 81 (1A)
and all other applicable provisions of the Companies
Act, 1956 (including any statutory modification(s)
or re-enactment thereof, for the time being in
force) and pursuant to the provisions of Chapter
XIII of the Securities and Exchange Board of India
(Disclosure and Investor Protection) Guidelines
2000 (SEBI [DIP] Guidelines), the Board of Directors
of Hindalco has approved in their meeting held
today, the issue of preferential shares/warrants
to the promoters/promoter group, subject to shareholders
approval, as given:
Issue upto 67,500,000 equity shares of Re.1/-
each amounting to not to exceed Rs.12,000 million
- Issue of 80,000,000 warrants, entitling the
holder of warrant to apply for and obtain allotment
of one equity share against one warrant amounting
to not to exceed Rs.14,000 million
- The Board has also approved the calling of
an Extra Ordinary General Meeting for the approval
of the preferential allotment on Wednesday,
28 March 2007.
The relevant date for the purpose of determining
the price for the preferential issue of the equity
shares and warrants would be 30 days prior to
the date of the Extra Ordinary General Meeting
to be held on 28 March 2007 under Chapter XIII
of the Securities and Exchange Board of India
(Disclosure and Investor Protection) Guidelines
2000 (SEBI [DIP] Guidelines).
For more information, contact:
Dr. Pragnya Ram,
Group Executive President,
Corporate Communications,
Aditya Birla Management Corporation Private Limited
Tel: 91-22-6652 5000 / 2499 5000
Fax: 91-22-6652 5741/ 42
Email: pragnya.ram@adityabirla.com
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