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| Exchange Disseminated Time | SEL Manufacturing Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 09, 2012, inter alia, duly approved the following:
1. Allotment of 7,29,00,000 Convertible Equity Warrants at a price of Rs. 12.00 each aggregating to Rs. 874.80 Million to the Promoters of the Company.
As per the terms of the issue of said warrants, these 7,29,00,000 convertible equity warrants are convertible into equal number of Equity Shares of the Company of the face value of Rs.10/- each (at a premium of Rs.2.00 each), at the option of the allottee(s), in such number of options exercised by the holder of such Equity warrants, in one or more lots, at the option of the holder of such Equity warrants, at any time, within a period, not exceeding eighteen months (18 months) from the date of issue of Equity warrants in accordance with SEBI Regulations in this regard.
2. The Board of Directors have appointed Mr. Amit Narang, as an Additional Director on the Board of Directors of the Company w.e.f. June 09, 2012. (For more details kindly refer Corporate Announcements on www.bseindia.com). |
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