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| Exchange Disseminated Time | SAL Steel Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 29, 2005, inter alia, has discussed the following decisions of the earlier Board meeting dated September 13, 2005:
1. To give preferential allotment of Equity Shares of 5% of capital to the Promoters, on a private placement basis.
2. To issue warrants of 5% of capital to Promoter, Shri Rajendra V. Shah on a private placement basis.
3. Proposed increase of Authorised Share Capital from Rs 950 million to Rs 1,000 million.
4. Proposed Extra Ordinary General Meeting - scheduled to be held on October 22, 2005.
The Board after long and detailed discussion on the same, at present, deferred all of the above matters, which will be again discussed and decided by the Board in future, once the broad terms on the same have been agreed. |
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