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| Exchange Disseminated Time | S.A.L. Steel Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the Company will be held on January 05, 2012, inter alia, to transact the following special business:
- To create, offer, issue and allot upto 3,20,00,000 Convertible Warrants (hereinafter referred to as the
"Warrants") for cash at a price of Rs. 10/-each to Strategic Investors and to persons belonging to Promoter and
Promoters Group Category (hereinafter referred to as the "Investors") aggregating to Rs. 32,00,00,000 (Rupees
Thirty Two Crores only) convertible into 3,20,00,000 number of equity shares of face value of Rs. 10/- each at
a price of Rs. 10 per equity share, which price is higher than the price arrived at in terms of the pricing
guidelines of SEBI (ICDR) Regulations, 2009 and such conversion should be made at any time on or before
expiry of 18 months from the date of issue in one or more tranches at the option of the Investors, subject to necessary provisions and approvals. |
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