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Premier's board at the meeting held on 23 January 2007, has approved to issue of 43,26,000 convertible warrants to Maitreya Doshi, promoter, on preferential basis, at Rs 38.50 per warrant convertible into equity shares of Rs 10 each, at a premium of Rs 28.50 per share, within 18 months from the date of allotment of warrants.
Accordingly, the board has also approved to increase authorised capital to Rs 31 crores comprising of 3.10 crore equity shares of Rs 10 each.
Further, the board will hold extraordinary general meeting (EGM) of the members on 22 February 2007, to seek approval for the above proposals.
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