The board of directors of Mid-Day Multimedia, which met today, approved a proposal to issue and allot, on a preferential basis, 21,90,000 fully paid up equity shares of Rs 10/- each for Rs 82/- per share (including premium of Rs 72/- per share) to T Rowe Price International Inc.According to a release issued by the company to the BSE today, the alloment will aggregate Rs 17.96 crore.The meeting also approved another proposal to increase foreign direct investment limit up to 26% of the paid-up capital of the company. "An EGM has been scheduled on September 17, 2005 to obtain shareholders' approval for the above issues," the release added.
