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| Exchange Disseminated Time | Nagreeka Exports Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 31, 2005, inter alia, has taken following decisions:
1. Decided not to split the Company’s Equity Shares of Rs 10/- each.
2. Passed resolution for demerger of the Company’s Investment Portfolio into a separate Company subject however to the approval of the members of the Company and requisite consent of the honorable Calcutta High Court in this regards.
3. Passed Resolutions for issue and allotment of 18,00,000 Equity Linked Warrants on preferential basis to the Promoters of the Company subject however, to the approval of the members of the Company. The issue price of each warrant will be determined as per SEBI (Disclosure and Investors Protection) Guidelines 2000 on the relevant date which will be 30 days prior to the holding of the Extra Ordinary General Meeting of the Company in which the matter pertaining to the issue of warrants will be considered by the members of the Company. Each, warrant can be converted into equity share of Rs 10/-. |
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