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| Exchange Disseminated Time | Maral Overseas Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 30, 2007, inter alia, have decided to offer for subscription 1,08,79,000 Equity Shares of Rs 10/- each in a price band of Rs 18 - 21 on rights basis, in the ratio of 1:2 i.e. One Equity Share for every Two Equity Shares held in the Company, to be issued to the shareholders of the Company, on a record date to be fixed by the Board of Directors or a duly constituted Committee thereof, in accordance with the SEBI (Disclosure and Investor Protection) Guidelines, 2000, as in force and subject to the approvals, permissions and sanctions as may be necessary from the SEBI, Stock Exchanges and RBI in this regard and the compliance of all legal and other formalities, as may be required.
The Board also decided to restructure the operations at Maral. This would include discontinuance of the Garment Unit at Maral Sarovar. |
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