Bombay Dyeing & Manufacturing Company Ltd has informed that the members of the Company by way of Postal Ballot, have passed with requisite majority, the special resolution, by authorizing the Board of Directors to create, offer, issue and allot warrants, entitling the warrant holder(s) any time within 18 months from the date of issue of the warrants to apply for equity shares of the Company in one or more tranches, to The Bombay Burmah Trading Corporation Ltd, a Company in the Promoter Group, on a preferential basis in such manner and on such terms and conditions as may be determined by the Board in its absolute discretion in accordance with the applicable SEBI Regulations, provided that the aggregate number of resultant equity shares of the Company to be issued against such warrants shall not exceed 19,30,000 fully paid up equity shares of the face value of Rs 10 each at a price equal to:
(a) The average of the weekly high and low of the closing prices of the Company's shares quoted on the stock exchange (National Stock Exchange of India Ltd) during the six months preceding the 'relevant date'
OR
(b) The average of the weekly high and low of the closing prices of the Company's shares quoted on a stock exchange (National Stock Exchange of India Ltd) during the two weeks preceding the 'relevant date'
whichever is higher; the 'relevant date' for this purpose being July 28, 2007.
Bombay Dyeing & Manufacturing Company Ltd
marketing@alchempro.com
