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| Exchange Disseminated Time | Marksans Pharma Ltd has informed BSE that pursuant to the Special Resolution passed by the shareholders of the Company at the 19th Annual General Meeting held on 29Ih September, 2011 and in-principle approval received from the Stock Exchange, the Board of Directors of the Company had, at its meeting held on October 25, 2011 issued and allotted 1,75,00,000 Warrants (convertible into equal number of equity shares of Re. 1/- each) to Mr. Mark Saldanha (Promoter Group) on preferential allotment basis in accordance with Chapter VII of the SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2009.
Mr. Mark Saldanha has exercised the right of conversion of the warrants into equity shares. Accordingly, in terms of the issue of the said warrants and pursuant to the approval of the shareholders, the Board of Directors of the Company has, at its meeting held on December 14, 2012 converted the said warrants into Equity Shares and accordingly, issued and allotted 1,75,00,000 Equity Shares of Re. 1/- each to Mr. Mark Saldanha.
Accordingly, the Issued, Subscribed and Paid-up Equity Share Capital of the Company has increased from Rs. 367807204/- divided into 367807204 Equity Shares of Re. 1/- each to Rs. 385307204/- divided into 385307204 Equity Shares of Re. 1/- each effective from December 14, 2012. |
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