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| Exchange Disseminated Time | SEL Manufacturing Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 02, 2010, have (upon exercise of conversion option to convert convertible Warrants into Equity Shares of the Company by the under mentioned allottees of Equity Warrants, by paying 75% balance money) has passed the resolution, pursuant to approval received of the Shareholders at their meeting held on August 26, 2009, that 57,00,000 Equity Shares of Rs. 10/- each of the Company be allotted, on such conversion of warrants, at a price (including premium), of Rs. 70.00 per share in the following manner:
1. Name of the Allottee: Prime Industries Ltd.
- No. of Equity Shares allotted on conversion of warrants: 1500000
2. Name of the Allottee: Star Global Resources Ltd.
- No. of Equity Shares allotted on conversion of warrants: 1500000
3. Name of the Allottee: Mr. Dhiraj Saluja
- No. of Equity Shares allotted on conversion of warrants: 1350000
4. Name of the Allottee: Mrs. Reema Saluja
- No. of Equity Shares allotted on conversion of warrants: 1350000
Consequent upon the conversion of 57,00,000 Equity Warrants into Equity Shares of the abovesaid allottees, the total issued and paid up capital of the Company stands increased to Rs. 30,35,70,000 dividend into 3,03,57,000 Equity Shares of Rs. 10/- each.
The new 57,00,000 Equity Shares of Rs. 10/- each allotted to the aforesaid allottees are under Lock-in period in compliance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. |
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