|
| Exchange Disseminated Time 16/01/2017 18:01:00 | Sat Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 16, 2017, has allotted 1,83,00,000 equity shares of the face value of Rs. 2/- each at a premium of Rs. 11.50 per share on conversion of 1,83,00,000 warrants.
Consequent to the conversion of warrants into equity shares as aforesaid, the paid up equity share capital of the Company stands increased from present Rs. 14,66,00,000/-divided into 7,33,00,000 equity shares of face value of Rs. 2/- each, to Rs. 18,32,00,000/- divided into 9,16,00,000 equity shares of face value of Rs. 2/- each.
The Company decided to further acquire 29,13,855 equity shares of Rs. 10/- each in Sah Polymers Limited, an existing subsidiary of the Company, subject to all permissions, sanctions etc. Subsequent to this acquisition Sah Polymers Limited will become an wholly owned subsidiary of the Company. |
|
|