Walchandnagar Industries - Updates on Outcome of EGM
Walchandnagar Industries Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 04, 2008, inter alia, have accorded the Board to create, offer, issue and allot for cash consideration on preferential basis upto 5,25,000 (Five Lakhs Twenty Five Thousand only) warrants convertible into equity shares of the Company within 18 months from the date of allotment at a price of Rs 6396/- (Rupees Six Thousand Three Hundred Ninety Six only) per warrant / share, being the price determined as per the SEBI (DIP) Guidelines on preferential issue (which price shall stand adjusted appropriately after sub-division of shares and issue of bonus shares) aggregating up to Rs 335.79 Crores (Rupees Three Hundred Thirty Five Crores and Seventy Nine Lakhs only) to the following entity belonging to the promoters / promoters group, each warrant convertible into 1 (One) Equity Share presently of Rs 10/- (Rupees Ten) each (equivalent to 10 equity shares of Rs 2/- each after sub-division of equity shares into 5 equity shares of Rs 2/- each and further issue of Bonus equity shares in the ratio of 1:1 as already approved by the shareholders at the Annual General Meeting held on January 30, 2008)
(i) Rodin Holdings Inc : 525000 No of warrants to be allotted.
Tags: Walchandnagar