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| Exchange Disseminated Time | West Coast Paper Mills Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 19, 2012, have decided the following:
1. To issue 33,00,000 Equity shares of face value of Rs.2/- each on Preferential basis to persons/entities in the Promoter Group at a price of Rs. 54.30/- (including premium of Rs.52.30/-).
2. Warrants of amount upto Rs.10 Crores on Preferential basis to persons/entities in the Promoter Group at a price of Rs. 54.30/- per warrant convertible into 1(one) equity share of face value of Rs. 2/- at a premium of 52.30/- per equity share at the option of the warrant holders within a period of 18 months from the date of allotment subject to option not being exercisable prior to April 01, 2013.
The price per share/warrant has been arrived at with respect to the relevant date i.e., April 19, 2012, as per SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2009 and the preferential issue of equity shares and warrants is subject to approval of the shareholders in the Extra-ordinary General Meeting to be held on May 19, 2012. |
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