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| Exchange Disseminated Time | Arihant Foundations & Housing Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on June 22, 2009, inter alia, to transact the following:
- Issue of Equity Warrants on a Preferential basis to Promoters and General Public
for offering, issuing and allotting on a preferential basis up to:
(i) 15,50,000 Convertible Equity Warrants (“Warrants”) to the following:
a. 4,30,000 Warrants to Mr. Kamal Lunawath
b. 4,30,000 Warrants to Mr. Vimal Lunawath
c. 6,90,000 Warrants to Taj Foundations (P) Ltd
each Warrant convertible at the sole option of the holder at any time before the expiry of 18 months from the date of allotment into 1 fully paid up equity share of the Company of face value Rs 10/- each, at an Exercise price of Rs 89/- (Rupees Eighty nine only) per share (including a premium of Rs 79/- (Rupees seventy nine only) which is not lower than the minimum price specified as per Clause 13.1.1.1 of Chapter XIII of SEBI Guidelines, as amended from time to time; on such necessary terms & conditions. |
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