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| Exchange Disseminated Time | Vimta Labs Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 23, 2006, has considered the allotment of 4064690 Equity Shares of Rs 2/- each at a premium of Rs 188/- per share to the investors on preferential allotment basis in pursuance of the approval given by the Members in their Extra Ordinary General Meeting of the Company held on March 18, 2006 and in-principle approvals given by the Exchanges.
Further the Company has informed that the while allotting the above shares the Board has considered the recommendations of its Committee by limiting the allotment of shares to Voyager Fund Mauritius Ltd below 5% of the post issue paid up capital of the Company in line with FEMA Regulations as Voyager Fund is a foreign corporate registered as a sub account of an FII. Therefore, there is a variation between the actual allotment and the approval of the Members and the Exchanges. |
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