Bombay Rayon Fashions Ltd has informed that the Board of Directors of the Company at its meeting held on March 24, 2009,
inter alia, has considered and approved the following:
1. Issue of 1,80,00,000 Equity Shares of Rs 10/- each fully paid up representing 20.67% of the enhanced Equity Capital on preferential allotment basis to AAA United B.V., a private limited liability Company constituted under the laws of The Netherlands for cash at a premium of Rs 175 per Equity Share aggregating Rs 333,00,00,000 (Rupees Three Hundred Thirty Three Crores only). The Proposed issue is to be augment working capital requirements, finance / acquisition for new projects & businesses and other Corporate purposes. The aforesaid proposed issue of Equity Shares shall be in accordance with the SEBI Guidelines for Preferential Issues.
2. Aggregate Investments limits by FIIs / Sub-accounts in the Company shall be 26% of the total paid up Equity Capital of the Company.
3. Draft Notice convening Extra-Ordinary General Meeting.
Bombay Rayon Fashions Ltd
marketing@alchempro.com
