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| Exchange Disseminated Time | Sumeet Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 03, 2011, inter alia, have taken the following decision:
- The 50,00,000 Equity Warrants proposed to be issued to the Promoters and Promoter group of the Company on preferential basis which will be converted into equivalent number of equity shares of Rs. 10/- at a price of Rs. 35/- (including premium of Rs. 25/-) in one or more tranches within 18 months from the date of issue. The floor price has been arrived Rs. 33.25 in accordance with chapter VII of SEBI Regulation. The relevant date for proposed preferential allotment is August 26, 2011. The required disclosures as per SEBI (ICDR) Regulations, 2009 are circulating with Notice of Annual General meeting.
The details of the proposed allotees are as under:
1. Name of Proposed Allottee(s): M/s. Somani Overseas Private Ltd.
No. of warrants to be allotted: 15,00,000
2. Name of Proposed Allottee(s): M/s. Sumeet Menthol Private Ltd.
No. of warrants to be allotted: 15,00,000
3. Name of Proposed Allottee(s): M/s. National Poly Yarn Private Ltd.
No. of warrants to be allotted: 15,00,000
4. Name of Proposed Allottee(s): Mr. Shankarlal Somani
No. of warrants to be allotted: 1,00,000
5. Name of Proposed Allottee(s): Mr. Sushil Shankarlal Somani
No. of warrants to be allotted: 1,00,000
6. Mrs. Gangadevi Shankarlal Somani
No. of warrants to be allotted: 1,00,000
7. Mr. Sumeet Shankarlal Somani
No. of warrants to be allotted: 1,00,000
8. Mrs. Manisha Sumeet Somani
No. of warrants to be allotted: 50,000
9. Mrs. Neelam Sushil Somani
No. of warrants to be allotted: 50,000 |
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