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| Exchange Disseminated Time | Alkyl Amines Chemicals Ltd has informed BSE that on December 18, 2006, the Company had allotted to Mr. Yogesh M Kothari, Promoter and Chairman & Managing Director, 10,00,000 - 6% Cumulative Redeemable Optionally Convertible Preference Shares of Rs 100/- each of the aggregate value of Rs 10 crores. As per the terms of issue, Mr. Yogesh Kothari has an option to convert these preference shares into Equity Shares at any time before 18 months at a price of Rs 75/- per share.
The Company has received a letter dated April 15, 2008 from Mr. Yogesh Kothari stating that he wishes to exercise his option to convert these shares into equity shares at a price of Rs 75/- per share and has requested the Company to kindly arrange to allot the equity shares to him. The Company would be shortly allotting these equity shares to him.
Mr. Kothari has also informed the Company that he is aware that this will attract the provisions of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and he proposes to make an open offer to the shareholders of Alkyl Amines Chemicals Ltd as stipulated under the Regulations. |
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