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| Exchange Disseminated Time | Aro Granite Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 22, 2006 had allotted, by way of preferential allotment, 3,69,000 Convertible Warrants to Shri Sunil K Arora, Managing Director at a price of Rs 120/- convertible at the option of the Allottee within an aggregate time period of 180 days from the date of allotment of the warrants into 3,69,000 Equity Shares of Rs 10/- each at a premium of Rs 110/- per share.
Note: Further the Company has informed that, regarding allotment of 369000 Convertible Warrants on Preferential basis to Sh. Sunil K Arora, Managing Director at a price of Rs 120/- per warrant. However due to typographical error, inadvertently the aggregate time period for conversion of the warrants into equity shares has been mentioned as "180 days from the date of allotment" whereas it should be "18 months from the date of allotment". Hence the conversion period of the warrants into equity shares shall be read as "18 months from the date of allotment". |
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