|
| Exchange Disseminated Time | SEL Manufacturing Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 18, 2009, has approved the allotment of 66,00,000 Convertible Equity Warrants at Rs. 70/- each aggregating to Rs. 462.00 million. The details of the allottees are as under:
Name of Allottee : Prime Industries Ltd
No. of convertible equity warrants allotted : 1500000
Name of Allottee : Star Global Resources Ltd
No. of convertible equity warrants allotted : 1500000
Name of Allottee : Mr. Dhiraj Saluja
No. of convertible equity warrants allotted : 1800000
Name of Allottee : Mrs. Reema Saluja
No. of convertible equity warrants allotted : 1800000
Further the Company has informed that, 66,00,000 convertible equity warrants are convertible into equal number of equity shares of Rs. 10/- each at a premium of Rs. 60/- per share, at the option of the allottee(s), in such number of options exercised by the holder of such Equity warrants, in one or more lots, at the option of the holder of such Equity warrants, at any time, within a period, not exceeding eighteen months (18 months) from the date of issue of Equity warrants in accordance with SEBI Regulations in this regard. |
|
|