SVC Resources has informed that a meeting of the board of directors of the company will be held on May 08, 2013, to consider allotment of shares 100,00,000 shares on Preferential / option at a price of Rs. 2.63 per share aggregating to Rs. 2,63,00,000 (Determined as per SEBI Guidelines) to the Promoters, their relatives and group companies for the loans and advances given to the Company for meeting its day to day expenses under Section 81 (3) of the Companies Act, 1956 and to report the developments to the Board regarding the Petition filed by certain shareholders before the Company Law Board.
The above information is a part of company’s filings submitted to BSE.