Date:11/03/2005 URL: http://www.thehindubusinessline.com/2005/03/11/stories/2005031100840400.htm

Back Aban Lloyd to go in for overseas funding

Our Bureau

Chennai , March 10

ABAN Lloyd Chiles Offshore Ltd plans to raise funds both from the domestic and overseas markets.

In a notice to the stock exchanges, the company has said that it might raise capital through an issue of cumulative redeemable preference shares and raise long-term resources through a FCCB or GDR issue.

The company also proposes a share split and an ESOP.

The decisions are to be taken at a board meeting to be held on March 18, following which an extraordinary general meeting of shareholders is to be convened to get shareholders' approval.