Country Club India Ltd has announced that the Board of Directors of the Company at its meeting held on April 01, 2010, inter alia, has approved the issue of 30,000,000 warrants convertible into equivalent number of equity shares, to the Promoter(s) and / or their associates at a price of Rs 25 per warrant, in accordance with the SEBI (ICDR) Regulations 2009.
The Board also approved issue of Equity Shares and / or convertible instruments through Qualified Institutional Placement (QIP) Issue in accordance with SEBI (ICDR) Regulations, 2009, FCCBs / GDRs / ADRs to the tune of upto USD 125 Millions or its Rupee equivalent.
The Board will convene Extra Ordinary General Meeting (EGM) of the members of the Company on April 30, 2010.
The actual funds to be raised pursuant to the enabling resolution no. 2 above, shall be as decided by the Board from time to time, and may be lower than that approved.
Source: Equity Bulls