|
| Exchange Disseminated Time | Alpine Housing Development Corporation Ltd has informed BSE that the meeting of the Board of Directors of the Company will be held on March 21, 2005, inter alia, to consider issue of equity shares on a preferential basis as per following:
1. To consider an issue not exceeding 35 lakhs number of equity shares at par amounting to Rs 35 million on preferential basis to the promoters and their friends and relatives.
2. The money raised on the issue will be used to finance Company's Cast Iron Product Unit to be set up at Bangalore. The major portion of the product will be used for captive consumption in the Sleeper Unit of the Company.
3. Subsequent to the issue there will be no change in the Board of Directors or the Management of the Company.
4. These shares when issued will be locked in for a period of three years.
5. As on December 31, 2004 the promoters and persons act in concert hold 51% voting rights.
6. Port issue (if fully subscribed only by Promoters) the Promoters voting rights will be increased to 68.12%. |
|
|