Rainbow Papers Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 28, 2011, inter alia, to consider the following matters:
1. To issue and allot 40,00,000 Equity Shares to M/s. Orient Newsprint Limited, on preferential basis, at Rs. 60 per Share, under SEBI (ICDR) Regulations, 2009 as approved by the Shareholders in the Extra Ordinary General Meeting of the Company held on April 20, 2011.
2. To issue and allot 60,00,000 warrants to M/s. Orient Newsprint Limited on preferential basis, convertible in to 60,00,000 Equity Shares, at a price of Rs. 60/- each, under SEBI (ICDR) Regulations, 2009 as approved by the Shareholders in the Extra Ordinary General Meeting of the Company held on April 20, 2011.
Sensex
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Wednesday, April 20, 2011
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