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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 September 29, 2011 and in-principle approval received from the Stock Exchange, the Board of Directors of the Company has, 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. Brief particulars of the warrants are given below:
1. Name of Allottee: Mr. Mark Saldanha (Promoter Group)
2. Securities allotted: Warrants
3. Number of Warrants: 1,75,00,000
4. Price of Warrants: Rs. 2.56/- per warrant determined in accordance with Regulation 76(1) of Chapter VII of SEBI (ICDR) Regulations, 2009.
5. Conversion: The allottee will be entitled to apply for and obtain allotment of one Equity Share of face value of Re. 1/- each against each Warrant at any time after the date of allotment but on or before the expiry of 18 months from the date of allotment, in one or more tranches.
6. Lock-in: The Warrants and the Equity Shares to be allotted on conversion of the Warrants shall be subject to lock-in period as specified under Regulation 78(1) of Chapter VII of SEBI (ICDR) Regulations, 2009. |
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